# Analyst: Outlook promising for US soybean oil buyers | 2020-06-03  | World Grain

> A Foresight Commodity Services analyst told a Sosland webinar that soybean oil futures averaged about 26 cents per pound in April, the lowest April level in 14 years. He forecast US soybean production rebounding to about 4.14 billion bushels in 2020 and said favorable oil prices could persist into autumn absent heavy Chinese buying or weather problems.

- Date: 2020-06-03 · published 2020-06-03T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/52704-analyst-outlook-promising-for-us-soybean-oil-buyers-2020-06-03-world-grain
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Ample US and South American supplies point to continued low soybean oil prices, which benefits buyers of oil-based feed ingredients. The outlook hinges on Chinese purchase volumes and weather.

## Read by commodity

- SBO: bearish ▼
- SOY: bearish ▼

## Sources

- world-grain.com: https://www.world-grain.com/articles/13769-analyst-outlook-promising-for-us-soybean-oil-buyers

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