Refined soybean oil prices in the United States strengthened considerably through April as multiple demand channels tightened merchant availability and exporters accelerated cargo bookings amid expectations of sustained vegetable oil firmness. Strong early-April soybean crushing activity and favorable Midwest planting conditions initially supported stable soybean oil processing rates; however, expanding renewable diesel capacity along the Gulf Coast and aggressive forward export commitments redirected larger soybean oil volumes away from spot merchant markets. By the end of April, inventories at key Chicago terminals had declined noticeably as export-focused trading activity remained dominant. The combination of stronger biofuel feedstock demand, active soybean oil export movement, and uncertainty surrounding upcoming crop development supported firmer FOB Chicago soybean oil sentiment throughout the month.
Demand-side fundamentals remained the key driver behind the soybean oil price increase. Renewable diesel refiners and biodiesel producers continued to aggressively procure feedstock under Low...
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