HOT Topics and HOT Nuggets
Live look at soybean oil:
Soybean oil rallied again today, up 2.8%, pushing prices above 54¢ for the first time since August.
Since the start of 2026, soybean oil is now up 11.2%, fueled (pun intended) by prospects of stronger biofuel demand in the months ahead.
Strength in soybean oil has lifted oil’s share of each bushel, with oilshare reaching a 13-week high today.
Oilshare surged following last week’s bearish crop report, which weighed on beans and meal.
But at 48%, oilshare is historically elevated for peak crush—especially with stocks building and EPA’s 2026 forward mandate unresolved.
Some of today’s enthusiasm likely tracked the broader energy complex, where heating oil jumped 2.7%. Still, this is classic soybean oil behavior—overreacting to policy chatter.
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