The soybean oil market staged an early week rally that saw August delivery futures climb to a six-month high on the spot continuation chart. Stronger crude oil prices, coupled with concerns over the weather and crop conditions in the U.S. Midwest growing region, drove the advance. By week’s end, however, profit-taking pressured prices.

In Chicago, August soybean oil futures closed at 62.57 cents per pound on Friday, down 41 basis points per pound, or 0.65 percent. The December contract ended at 58.33 cents per pound, down 91 basis points per pound, or 1.54 percent. Still, for the week, the contracts were up 1.4 percent and one percent, respectively, in value.

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