World soybean oil price today

The price of Soybean Oil today, updated on 08/09/2026, is trading at 70.73 UScents/lb, equivalent to approximately 40,659,519 VND/ton. According to market data, the price of this commodity recorded an increase of 0.18% compared to the previous trading session, continuing to consolidate the upward trend in the international agricultural commodity category.

In the Vietnam market, the current price is significantly higher than this month's average of 61.44 UScents/lb (approximately 35,319,113 VND/ton) and far exceeds last month's average of only 13.92 UScents/lb. This discrepancy indicates strong volatility in the raw material market in the short term, directly affecting import costs and profit margins for domestic food and animal feed production enterprises.

In the last 30 days, the fluctuation range of soybean oil prices was recorded from 0.00 to 72.63 UScents/lb. Observing the developments in early September 2026, prices have continuously remained around the 69 - 72 UScents/lb threshold, showing that the market is establishing a new stable price floor at a high level after the period of strong volatility from the previous month.

On the international market, Soybean Oil is traded in lb units and quoted in UScents.

Soybean oil belongs to the Agricultural products group. This is one of the most commonly traded commodity groups on global commodity exchanges.

Soybean Oil prices (priced in UScents/lb) are influenced by many complex factors, primarily revolving around global supply and demand dynamics, macro policies, weather conditions in key production regions, and geopolitical events.

Regarding supply, global soybean production is a key factor, as soybean oil is a byproduct of the soybean crushing process. Factors affecting soybean production include planted area, crop yields (especially in the US, Brazil, and Argentina), current inventory levels of soybeans and soybean oil, and the crushing capacity of processing plants. Regarding demand, consumption demand for soybean oil comes from two main sectors: the food industry, where soybean oil is widely used as cooking oil and a processing ingredient; and the biofuel (biodiesel) industry, where support policies and biodiesel blending mandates in countries like the US, Brazil, and Indonesia can create significant demand. Additionally, the prices of alternative vegetable oils (palm oil, rapeseed oil) also affect competitive demand.

In addition to supply and demand, other factors play an important role. Trade policies (import taxes, quotas), energy policies (mandatory biofuel blending levels), and agricultural subsidies from major producing and consuming nations can significantly alter trade flows and prices. Adverse weather such as droughts or floods in key soybean-growing regions during critical stages of the crop cycle can severely impact yields and production. Finally, geopolitical events (conflicts, trade tensions) and macroeconomic fluctuations (energy prices, USD exchange rates) can all impact transportation costs, production, and the competitiveness of biodiesel, thereby indirectly affecting soybean oil prices.

Soybean Oil prices have recently been under pressure from various intertwining factors, showing significant volatility. Currently, the market is reacting strongly to crude oil price movements, global soybean crop outlooks, and biofuel policies.

Regarding fundamental analysis, the soybean supply outlook from South America (Brazil, Argentina) remains a key factor, with weather and harvest yield reports directly impacting soybean prices and, consequently, soybean oil. Demand from the biofuel (biodiesel) industry continues to be a strong price support driver, particularly in the United States and Brazil, where policies encouraging green fuel use are being promoted. Additionally, palm oil and other vegetable oil prices also play a crucial role in shaping soybean oil market sentiment.

From a technical analysis perspective, soybean oil prices are fluctuating within a certain range, with key support and resistance levels needing close monitoring. There is a high probability that prices will maintain a volatile trend in the short term; however, with support pressure from rising biodiesel demand and potential supply tightening in the future, a slight upward trend or stability at high levels could be maintained in the medium term. Investors should pay attention to the latest USDA supply and demand reports, weather developments, and global energy policies to make appropriate decisions.

At the current time, the Soybean Oil market is showing volatility and complex signals, requiring investors to take a cautious view. Based on both fundamental and technical analysis, we suggest that investors should monitor closely instead of making hasty buy or sell decisions.

Regarding fundamental analysis, Soybean Oil prices are heavily influenced by the global soybean supply situation, particularly the crop outlook in South America (Brazil, Argentina). Any concerns about drought or unusually heavy rain can significantly impact supply and drive prices up. Demand from the biodiesel industry is also a key factor; rising crude oil prices often support Soybean Oil prices. Additionally, import demand from major markets like China and India needs to be closely monitored.

From a technical analysis perspective, Soybean Oil (UScents/lb) is currently fluctuating within a specific price range. Technical indicators such as the RSI (Relative Strength Index) or MACD (Moving Average Convergence Divergence) may indicate that the market is in a state of equilibrium or tending to form important support/resistance zones. A breakout of these levels could determine the next short-term trend. However, volatility remains high, and technical signals can change rapidly.

In summary, with intertwining fundamental and technical factors, the general recommendation is to maintain a neutral or cautious position. Investors should wait for clearer signals regarding market direction, especially from crop reports, inventory data, and energy policies. Risk management is the key factor in this phase. Note: This is for reference only and does not constitute investment advice.