A record global soybean crop forecast for 2026/27 is offset by strong crush demand, active exports, and rising US biodiesel use of soybean oil. USDA projects a significant increase in domestic soybean oil consumption, while higher crude petroleum prices in August provided additional support to soybean oil values.
Soybean oil futures rose on the week, supported by a significant increase in Indian import demand and reduced Black Sea vegetable oil supplies. US soybean crushing volumes increased year-on-year while soybean oil stocks fell, tightening available supply. Higher crude oil prices also improved the economics of vegetable oil-based biofuel production, providing additional price support.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Crude Soybean Oil | China | FOB | USD 1,268.57/MT | July 2026 |
| Crude Soybean Oil | India | CIF | USD 1,375.38/MT | July 2026 |
| Crude Soybean Oil | Germany | CIF | USD 1,402.20/MT | July 2026 |
| Crude Soybean Oil | Australia | CIF | USD 1,367.03/MT | July 2026 |
| Crude Soybean Oil | Brazil | CIF | USD 1,440.18/MT | July 2026 |
| Crude Soybean Oil | China | FOB | USD 1,256.70/MT | June 2026 |
| Crude Soybean Oil | India | CIF | USD 1,344.24/MT | June 2026 |
| Crude Soybean Oil | Germany | CIF | USD 1,378.18/MT | June 2026 |
| Crude Soybean Oil | Australia | CIF | USD 1,322.78/MT | June 2026 |
| Crude Soybean Oil | Brazil | CIF | USD 1,428.30/MT | June 2026 |
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Asia
In the Chinese region, Crude Soybean Oil price stood at an approximate level of USD 1,269.25/MT in May and declined to approximately USD 1,257.00/MT in June during Q2 2026. Chinese market sentiments remained slightly weak due to strong crushing operations that made oil supply abundant while purchases continued at need basis. Rising inventories and ample soybean supply reduced the urgency to restock, outweighing temporary support from international vegetable-oil markets. Meanwhile, Crude Soybean Oil price increased from approximately USD 1,336.59/MT in May to around USD 1,344.20/MT in June in the Indian market. Indian sentiments were firm on the back of costly replacements for importers and stable consumption of edible-oil, despite competition from vegetable oils.
Europe
The Crude Soybean Oil market in Germany was estimated at USD 1,362.70/MT in May before rising to USD 1,378.20/MT by June 2026. Conditions in the European market were favourable due to increasing biofuel demand and tightness in vegetable oil markets, helping to support soybean oil substitution costs. Biofuel producers remained active buyers, but caution was taken due to uncertainties in energy supplies and feedstocks. Tight supply from South America prevented further price gains with projections of global soybean oil production at 74.7 million MT for MY 2026/27.
North America
Crude Soybean Oil markets in North America remained firm in much of Q2 amid strong demand for renewable diesel and tight supplies. Local crushing operations benefitted from high margins, while biofuel producers competed with food industry for limited oil. USDA predicted an increase in U.S. soybean oil used for biofuel production of 25% in MY 2026/27. Momentum in the market slowed somewhat during June due to favourable weather, profits taking and reduced export prospects.
Analyst Insight
According to Procurement Resource, crude soybean oil markets are expected to remain mixed, with South American supply limiting gains while biofuel demand continues supporting Europe and North America.
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Asia
In Asia, crude soybean oil prices largely remained range-bound during Q1’26. In India, prices increased marginally between January and March. Market sentiment remained influenced by India’s agreement to allow duty-free imports of U.S. soybean oil and DDGS under a new trade framework, which raised concerns over cheaper imported edible oils and pressured domestic oilseed markets. China increased soybean imports during March as larger Brazilian cargo arrivals improved crushing activity and edible oil supply availability. Global soybean production for 2025/26 exceeded 420 million metric tons, while Brazil’s soybean output remained near 169 million metric tons, supporting export flows across Asia. However, Iran war related disruptions around the Strait of Hormuz increased freight, marine insurance, and cargo transit costs, tightening short-term supply availability and supporting regional prices.
European
The European crude soybean oil market remained stable-to-range-bound during Q1’26 as elevated freight costs and logistical disruptions influenced procurement activity. Expectations of stronger South American soybean exports prevented sustained price increases despite higher international vegetable oil benchmarks. Europe’s import-dependent market structure kept buyers sensitive to freight volatility and shipment delays caused by Middle Eastern maritime disruptions. Demand from food manufacturing and biofuel sectors remained steady, while cautious procurement strategies limited aggressive buying activity during the quarter.
North America
In North America, crude soybean oil prices followed mixed movements during Q1’26, supported by renewable diesel and biodiesel blending demand. Biofuel consumption continued to support soybean oil fundamentals despite ample soybean supply expectations from South America limiting stronger price gains. Export demand remained supportive, while evolving trade policies influenced regional competitiveness and global trade flows. Elevated marine freight and fuel costs linked to the Iran war indirectly increased transportation and procurement expenses across the edible oil supply chain.
Crude Soybean Oil is basically oil derived from soybean flakes with mixed hexanes. Crude degummed soybean oil is defined as pure soybean oil which is obtained from fair to average quality crude soybean oil by removing most of the natural gums (phospholipids) present in it through hydration and mechanical separation.
Producing Salad Dressings, Baking and Frying Fats, Margarines, Salad and Cooking Oils
Bunge Limited, The Archer Daniels Midland Company, Cargill, Incorporated, Adams Group, CHS Inc., Grain Millers Inc
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
In this process, first soybeans undergo cracking process and then heated at a temperature ranging between 60-88oC or 140-190°F. These are further rolled into flakes and solvent-extracted with hexanes. This extracted oil containing hexanes is known as Crude Soybean Oil. Upon refining the same, it is referred to as soybean oil.
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