What This Chart Shows
This chart displays the historical price of soybean oil, a major global commodity used in cooking oils, processed foods, industrial applications, and biofuel production. Soybean oil is one of the most widely consumed vegetable oils in the world, and its price reflects long‑term trends in agricultural production, energy markets, and global food demand.
Why Soybean Oil Matters
Soybean oil is a critical component of the global food and energy system. Its price is shaped by:
- Global demand for vegetable oils
- Weather patterns and crop yields
- Biofuel and renewable diesel production
- Fertilizer and energy costs
- U.S.–China trade flows
- Supply chain and export disruptions
Because soybean oil is used in everything from cooking oils to biodiesel, its price plays a major role in food inflation, energy markets, and agricultural economics.
Key Insights
- Soybean oil is one of the most widely used vegetable oils globally.
- Prices are highly sensitive to soybean crop yields and weather conditions.
- Renewable diesel and biodiesel demand create strong ties between soybean oil and energy markets.
- Global trade — especially U.S. exports — influences price trends.
- Soybean oil often moves differently from grains, offering diversification insights.
Source
U.S. Bureau of Labor Statistics (via FRED), Series ID: PSOYBOPUSDM