
International soybean oil prices rose in October to their highest level since late 2022, according to FAO’s latest food price index. Strong biofuel-industry demand and seasonally lower export supplies from South America contributed to the increase, while rapeseed oil prices fell as supplies grew.
Biofuel demand and tighter South American export availability support soybean oil prices. Greater rapeseed oil availability may limit substitution demand and keep pressure on rapeseed markets.
After 296 past bullish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.