# Soyoil Futures Surge to All-Time High on Biofuel Demand - AgWeb

> U.S. soybean oil futures rallied to a record high on Monday, with July delivery contracts peaking at 73.74 cents per pound overnight. Prices were around 71.7 cents during the morning session. Futures had risen 71.3% year to date.

- Date: 2021-06-24 · published 2021-06-24T12:00:00.000Z
- Category: market · region US · magnitude medium
- Page: https://feedsoft.ai/events/46685-soyoil-futures-surge-to-all-time-high-on-biofuel-demand-agweb
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Strong biofuel demand is tightening soyoil supplies, pushing up crush margins and feed costs for meal users. Higher oil prices raise the value of crushing soybeans, supporting soybean and soybean meal prices.

## Read by commodity

- SBO: bullish ▲
- SOY: bullish ▲

## Sources

- agweb.com: https://www.agweb.com/news/crops/soybeans/soyoil-futures-surge-all-time-high-biofuel-demand

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.