During the past week, soybean oil prices increased relative to meal and soybean values, allowing soybean oil to capture a large percentage share of crush relative to meal. Soybean oil prices ended the week at 48.89 cents per pound, 2% higher than the week prior. Soybean and soybean meal prices closed one percent lower. This allowed soybean oil to capture 42.3% of the crush value at week’s end.
Over the past year soybean oil’s share of the crush has ranged between 33% and 47%. Since February soybean oil’s percentage share has mostly fluctuated between 40% and 42%. Should the biofuel industry begin to ramp higher, this could lead to increased soybean oil demand and lift the soybean oil share of the crush.
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