Soybean Oil Prices Need a Drop in the Crush to Gain a Foothold

Soybean oil prices attempted to bounce near the June lows and are consolidating.  Soybean oil stocks remain at elevated levels, and tariffs on soybeans continue to weigh on the entire soybean complex.  The oil share, which reflects the price of soybean oil relative to soybean meal, remains near the lower end of the 5-year range, 8% below the 5-year average and 7% above the lower end of…