Perhaps one of the most-consumed cooking oils, soybean oil is actually common in everything from paints to insect repellents. The extraction of soybean oil from the cracked soybeans takes place in relatively low heat, with the left over residue ground up into soybean meal for animal feed. On average, around 30-33 million tons of soybean oil is produced annually worldwide. The Chicago Board of Trade has soybean oil contracts that trade at 60,000 lbs at a time.
Soybean Oil Contract Specifications
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Soybean Oil Facts
Soybean oil is a widely used vegetable oil extracted from the seeds of soybean. It has made an impact to the food and fuel industries as it can be used for various purposes. Soybean oil is used by the food industry as cooking oils, margarine, and shortenings. It has also been an important ingredient for industrial products such as biofuels, paints, inks, and plastics.
Crush Spread: A spread trading strategy that is used by traders to manage risk that involves soybean, soybean meal, and soybean oil futures.
Last updated October 2015.
Recent Posts on Soybean Oil
- Beyond the Spotlight: September 20, 2021 (Crude Oil, Bean Oil, Sugar) (9/20/2021) - Beyond the Spotlight is a weekly video released on Mondays that spotlights two or three markets that may become trading opportunities for the week ahead. This enables you as a subscriber of the Trade Spotlight advisory service to look ahead with us, while potentially creating additional trading opportunities for yourself.