# Soybean Oil Price Hits Three-Week High as Tensions Between the US and Iran Renew

> Chicago soybean oil futures rose 1.8% on Wednesday to a three-week high, extending gains for a fifth consecutive session as renewed US-Iran hostilities lifted crude oil prices. Soybean oil was up 1.4% to 68.18 cents per pound, while corn fell 0.4%; soybeans and wheat were little changed.

- Date: 2026-11-05 · published 2026-11-06T13:38:31.086Z
- Category: geopolitics · region US-Iran · magnitude medium
- Page: https://feedsoft.ai/events/84060-soybean-oil-price-hits-three-week-high-as-tensions-between-the-us-and-iran-renew
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Higher crude prices can make biofuels more attractive and strengthen demand expectations for soybean oil. The geopolitical risk therefore supported soybean oil, while the article reported a small decline in corn.

## Read by commodity

- SBO: bullish ▲
- SOY: neutral
- WTI: bullish ▲
- CORN: bearish ▼
- BRENT: bullish ▲
- WHEAT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2026-07-08 | [Soybean Oil Hits Three-Week High as US-Iran Ceasefire Dissolves - Bloomberg](https://feedsoft.ai/events/18449-soybean-oil-hits-three-week-high-as-us-iran-ceasefire-dissolves-bloomberg.md) | +7.3% | +1.8% |
| SBO | 2024-08-26 | [Palm and soybean oil prices rise in response to recovery in crude oil prices](https://feedsoft.ai/events/28878-palm-and-soybean-oil-prices-rise-in-response-to-recovery-in-crude-oil-prices.md) | +3.3% | +1.0% |
| SBO | 2026-03-30 | [Biofuel Demand, Iran Conflict Push Soybean Oil Prices Toward New Peak - Bloomberg](https://feedsoft.ai/events/20195-biofuel-demand-iran-conflict-push-soybean-oil-prices-toward-new-peak-bloomberg.md) | +4.8% | +6.2% |
| SBO | 2023-07-20 | [Palm oil futures hit four-month high as Black Sea tensions escalate](https://feedsoft.ai/events/11938-palm-oil-futures-hit-four-month-high-as-black-sea-tensions-escalate.md) | +7.5% | -0.1% |
| SBO | 2026-03-03 | [Global oil and gas prices soar as Iran crisis disrupts shipping, production \| Reuters](https://feedsoft.ai/events/8777-global-oil-and-gas-prices-soar-as-iran-crisis-disrupts-shipping-production.md) | +1.0% | -0.8% |
| WTI | 2026-07-08 | [Soybean Oil Hits Three-Week High as US-Iran Ceasefire Dissolves - Bloomberg](https://feedsoft.ai/events/18449-soybean-oil-hits-three-week-high-as-us-iran-ceasefire-dissolves-bloomberg.md) | +12.5% | +7.9% |
| WTI | 2018-06-28 | [U.S. oil prices hit three-and-a-half-year high on concern over Iran sanctions](https://feedsoft.ai/events/8780-u-s-oil-prices-hit-three-and-a-half-year-high-on-concern-over-iran-sanctions.md) | -3.7% | -6.5% |
| WTI | 2026-04-29 | [Crude oil price near three-week high as UAE leaves OPEC; Strait of Hormuz disruption, US-Iran tension persist \| Stock Market News](https://feedsoft.ai/events/19903-crude-oil-price-near-three-week-high-as-uae-leaves-opec-strait-of-hormuz.md) | +2.2% | -10.9% |

## Sources

- aleqt.com: https://www.aleqt.com/%D8%A7%D9%84%D8%A3%D8%B3%D9%88%D8%A7%D9%82/%D8%B3%D8%B9%D8%B1-%D8%B2%D9%8A%D8%AA-%D8%A7%D9%84%D8%B5%D9%88%D9%8A%D8%A7-%D9%84%D8%A3%D8%B9%D9%84%D9%89-%D9%85%D8%B3%D8%AA%D9%88%D9%89-%D9%81%D9%8A-3-%D8%A3%D8%B3%D8%A7%D8%A8%D9%8A%D8%B9-%D9%85%D8%B9-%D8%AA%D8%AC%D8%AF%D8%AF-%D8%A7%D9%84%D8%AA%D9%88%D8%AA%D8%B1-%D8%A8%D9%8A%D9%86-%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D8%A7-%D9%88%D8%A5%D9%8A%D8%B1%D8%A7%D9%86-11842

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