# Crude Oil’s Next Move? Clues from Soybean Oil

> CME Group research notes that soybean oil prices peaked on November 9, 2017, and fell about 10% before crude oil peaked in late January 2018. The authors describe this as the eleventh episode since 2005 in which soybean oil led crude oil. WTI rose from $42 to $66 per barrel between June 2017 and January 2018 while soybean oil did not follow.

- Date: 2018-03-01 · published 2018-03-01T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/66094-crude-oil-s-next-move-clues-from-soybean-oil
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Soybean oil's lead over crude is a signal for biofuel-linked demand, which feeds into soybean crush economics and meal supply. Traders watching this relationship may read the soybean oil weakness as a warning for energy prices.

## Read by commodity

- SBO: neutral
- WTI: neutral

## Sources

- cmegroup.com: https://www.cmegroup.com/education/featured-reports/crude-oils-next-move-clues-from-soybean-oil

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