The latest USDA’s World Agricultural Supply and Demand Estimates report, released at midday on Tuesday February 11, was considered neutral for the soybean oil market, with no changes in monthly forecasts for soybean oil stocks and consumption for 2024/25.

For the 2024/25 marketing year, the agency maintained its US soybean oil production outlook at 27.6 billion lb and its soyoil export projection at 1.6 billion lb.

At the end of 2024, US soyoil exports surged as domestic prices became more competitive than most other vegetable oils around the world.

Soybean oil exports out of the US Gulf soared, as Malaysian palm oil prices surged, and Argentina’s soybean oil export-basis premiums rose above their counterparts in the US at various intervals, making the US a more attractive market for foreign buyers.

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