Soybean oil is a vegetable oil extracted from the seeds of the soybean. It is one of the most widely consumed cooking oils and the second most consumed vegetable oil. As a drying oil, processed soybean oil is also used as a base for printing inks (soy ink) and oil paints.
Processed soybeans are the world’s largest source of animal protein feed and the second largest source of vegetable oil. The United States is the world’s leading soybean producer and the second-leading exporter. Soybeans comprise about 90 percent of U.S. oilseed production, while other oilseeds—including peanuts, sunflowerseed, canola, and flax—make up the remainder.
Soybeans Crop Progress
Soybean Oil Futures – Contract Specification
|Name||Symbol||Exchange||Size||Months||Tick||Unit Move $|
|Soybean Oil||ZL||CBOT||60K Ibs||F,H,K,N,Q,U,V,Z||0.0001/$6.00||600|
Weekly Historical Data
From USDA: United States Department of Agriculture
The following historical charts covering selected agricultural commodities starting from calendar year 1990 through the current week’s date reflecting weekly exports, accumulated exports, net sales, and outstanding sales for the current marketing year and net sales and outstanding sales for next marketing year are available
Export Sales Weekly Historical Data (USDA)
Soybean Oil Futures Price
COT Report: SOYBEAN OIL – CHICAGO BOARD OF TRADE
Social Sentiment Trend
Long-term interest ratesTotal, % per annum, Jan 2007 – Mar 2021
Report USDA: Prospecting Plantings
This report contains the expected plantings and last year’s harvest for principal crops and tobacco presented on a state basis. Principal crops are as follows: corn, all wheat, winter wheat, durum wheat, other spring wheat, oats, barley, flaxseed, cotton, rice, all sorghum, sweet potatoes, dry edible beans, soybeans, sunflower, peanuts, sugarbeets, canola, and proso millet.
The World Agricultural Supply and Demand Estimates (WASDE) is prepared and released by the World Agricultural Outlook Board (WAOB). The report is released monthly, and provides annual forecasts for supply and use of U.S. and world wheat, rice, coarse grains, oilseeds, and cotton. The report also covers U.S. supply and use of sugar, meat, poultry eggs and milk, as well as Mexico’s supply and use of sugar. The WAOB chairs the Interagency Commodity Estimates Committees (ICECs), which include analysts from key USDA agencies who compile and interpret information from USDA and other domestic and foreign sources to produce the report. For more information about the WASDE process and data, visit the WASDE FAQs page.
The above information was drawn from sources believed to be reliable. Although it is believed that information provided is accurate, no guarantee is made. Thinksmart assumes no responsibility for any errors or omissions.