Crude Soybean Oil Price Trend and Forecast 2026-2027

China paid the most for crude soybean oil in Q2 2026: USD 1,243/MT, up 1.9% from USD 1,219 in Q1. The steady food and biodiesel demand kept things firm there. Worldwide, the average moved up 1.9%, to USD 1,133/MT from USD 1,112, largely because the soybean feedstock costs kept climbing across every region we track. What about H2 2026? We'd expect a global average somewhere in the USD 1,115-1,210/MT range, with the steady food and biodiesel demand doing most of the work.

Crude soybean oil is extracted from soybeans during crushing, most of it destined for refining into cooking oil, though a growing share now feeds biodiesel blending directly. The US, Brazil, and Argentina together account for the large majority of world soybean production and, by extension, crude oil output, while China's enormous crushing industry makes it both a major producer and the largest single consuming market. Three things move the price more than anything else: the soybean feedstock costs, which track growing-season weather across all three major producing regions, the food-sector cooking-oil demand, and the biodiesel-blending demand that's grown into a major secondary outlet.

The crush-margin relationship deserves some explanation, since it shapes how soybean processors actually make their money and, in turn, how much oil reaches the market. Soybean crushing yields both oil and high-protein meal simultaneously, and processors' decisions about how much to crush depend on the combined value of both products relative to the whole bean's cost, not the oil price alone. That means crude soybean oil supply can be influenced by swings in the soybean meal and animal-feed markets just as much as by oil-specific demand, a dynamic that sets it apart from a single-output commodity. Buyers new to this market sometimes underestimate how much that structural detail matters until they see it play out in the pricing data over a full cycle.

The biodiesel-blending application is worth a mention too, since it's reshaped this market's demand profile substantially over the past two decades. As biodiesel mandates have expanded across the US, Brazil, and several other markets, soybean oil has become one of the leading feedstocks for that fuel, adding a demand stream that now rivals the traditional food-oil market in scale across some of the regions we track.

Crude Soybean Oil Price Forecast for 2026

Supply and demand should stay moderately tight through H2 2026, with the soybean feedstock costs doing most of the work on pricing. Brazil and Argentina both kept the export demand steady through H1, and that's likely to continue. China's crushing and food-sector demand kept building as well, while the US biodiesel-blending mandate kept its market firm. None of the four markets we track is showing signs of genuine disruption heading into the back half of the year.

Buyers should keep an eye on the soybean meal market alongside the oil price, since the crush-margin relationship means processor output decisions depend on both products together, not the oil market in isolation. That's worth building into any longer-range planning rather than assuming current conditions will simply persist unchanged.

The biodiesel-blending mandate levels across the major markets bear watching too, since any expansion there would add further structural demand on top of the already substantial food-oil market that's underpinned this commodity for decades.

What could push prices higher? A soybean feedstock spike, or a stronger-than-expected biodiesel-blending demand surge. What could pull them lower? A slowdown in food-sector demand or a pullback in biodiesel mandates.

For the Quarter Ending June 2026

Crude Soybean Oil Prices Q2 2026:

• United States: USD 1,165/MT
• Brazil: USD 1,099/MT
• Argentina: USD 1,057/MT
• China: USD 1,243/MT

Crude Soybean Oil Prices in United States

US crude soybean oil producers passed through the firmer soybean costs this quarter, and the domestic biodiesel-blending demand held steady. The gain came to 1.9%, USD 1,143/MT to USD 1,165.

Why did the price of Crude Soybean Oil change in Q2 2026 in United States?

The soybean feedstock costs firmed through the quarter, and the domestic biodiesel-blending demand held its ground right alongside that.

Crude Soybean Oil Prices in Brazil

Brazil climbed 1.9% to USD 1,099/MT, its large production base keeping it the most affordable market even as the demand firmed.

Why did the price of Crude Soybean Oil change in Q2 2026 in Brazil?

The large production base is exactly why Brazil stayed the cheapest of the four markets even as the demand ticked up.

Crude Soybean Oil Prices in Argentina

Argentina gained 1.9% to USD 1,057/MT, the export volumes continuing to hold steady through the period.

Why did the price of Crude Soybean Oil change in Q2 2026 in Argentina?

The export volumes held steady, and that alone explains most of the move here.

Crude Soybean Oil Prices in China

USD 1,243/MT. That's where China landed in Q2, up 1.9% from USD 1,219 in Q1. The crushing and food-sector demand stayed steady, and the soybean costs climbed just enough to push things higher.

Why did the price of Crude Soybean Oil change in Q2 2026 in China?

The crushing and food-sector demand didn't move much, honestly. It was the soybean feedstock costs doing most of the work this quarter.

For the Quarter Ending March 2026

Crude Soybean Oil Prices Q1 2026:

• United States: USD 1,143/MT
• Brazil: USD 1,079/MT
• Argentina: USD 1,037/MT
• China: USD 1,219/MT

Crude Soybean Oil Prices in United States

US crude soybean oil rose 1.9% to USD 1,143/MT, the biodiesel-blending demand firming with the new year.

Why did the price of Crude Soybean Oil change in Q1 2026 in United States?

The biodiesel-blending demand firmed with the new year, and the soybean costs kept climbing steadily too.

Crude Soybean Oil Prices in Brazil

Brazilian crude soybean oil gained 1.9% to USD 1,079/MT, the demand firming as the year opened.

Why did the price of Crude Soybean Oil change in Q1 2026 in Brazil?

The domestic and export demand firmed as the year opened, and the soybean feedstock costs edged higher right alongside it.

Crude Soybean Oil Prices in Argentina

Argentine crude soybean oil climbed 1.9% to USD 1,037/MT, the export demand building through the quarter.

Why did the price of Crude Soybean Oil change in Q1 2026 in Argentina?

The export demand built through the quarter, tracking the international crushing-sector buying closely.

Crude Soybean Oil Prices in China

Chinese crude soybean oil rose 1.9% to USD 1,219/MT, the crushing and food-sector demand staying firm through the quarter.

Why did the price of Crude Soybean Oil change in Q1 2026 in China?

The crushing and food-sector demand stayed firm, and the soybean costs firmed alongside it.

Quarterly Crude Soybean Oil Price Trends

The global average climbed steadily across the window, from USD 1,050/MT in Q1 2025 to USD 1,133 by Q2 2026, a net gain of about 7.9%. Every quarter posted a gain here, reflecting the firming soybean feedstock costs and the steady food and biodiesel demand across every market we track, with the pace of the gains picking up somewhat in the most recent two quarters. That kind of steady, uninterrupted climb is worth noting, since it stands in contrast to how choppy some other commodities in this space have looked over the same period.

What was Crude Soybean Oil Price in 2025?

2025 was a steadily firming year for crude soybean oil. Starting near USD 1,050/MT in Q1, the global average finished 2025 at USD 1,091, a gain of about 3.9%. The food and biodiesel demand held consistent all year across every market we track, before the pace of gains picked up further once 2026 got underway. Buyers who track this market closely tend to view that steady annual pattern as the baseline against which any future quarter's move should be judged.

Crude Soybean Oil Prices in United States in 2025

US prices moved from about USD 1,080/MT in Q1 2025 to USD 1,122 by Q4, up roughly 3.9%. The biodiesel-blending demand held steady all year.

Crude Soybean Oil Prices in Brazil in 2025

Brazilian prices climbed from USD 1,020/MT in Q1 to USD 1,059 by Q4, a 3.8% gain, as the large production base kept it the most affordable of the four markets throughout.

Crude Soybean Oil Prices in Argentina in 2025

Argentine prices rose from USD 980/MT in Q1 to USD 1,018 by Q4, up 3.9%, as the export volumes stayed steady through the year.

Crude Soybean Oil Prices in China in 2025

Chinese prices moved from USD 1,150/MT in Q1 to USD 1,196 by Q4, a 4.0% gain, the highest absolute price throughout the four markets on the established crushing and food-sector demand.

How We Can Help

Expert Market Research: Your Source for Real-Time Crude Soybean Oil Price Intelligence

We keep a continuous eye on the crude soybean oil prices wherever it's produced or consumed at scale, tracing causation through the soybean feedstock economics, the food-sector cooking-oil demand, and the biodiesel-blending demand that's grown into a major secondary outlet. Our analysts track the soybean meal market alongside the oil price, given how directly the crush-margin relationship ties the two together. We also flag any material shift in the underlying feedstock or trade-logistics conditions as soon as it becomes apparent. Need pricing data, bespoke market analysis, or procurement advisory? Reach out to our team.