July Soybean Oil Futures Price range Projection
This month USDA forecast the 2024/25 crop year average price for soybean oil at $43/hundredweight compared to $48 last season. On 01/17/2025 July 2025 soybean oil closed at $47. We have included price range data for July soybean oil as a function of USDA’s January price forecast. The USDA’s $43 season estimate suggests a July Soybean Oil Futures price range of $41 to $52 during the winter through summer period.
The USDA’s 2024/25 US soybean oil S/D features a major swing in trade in the US favor, strong bio fuel use and a tighter stocks usage balance.
| US Soybean Oil Balance (Million pounds) | |||||
| 2021/22 | 2022/23 | 2023/24 | 2024/25 | 2025%2024 | |
| Beginning Stocks | 2,131 | 1,991 | 1,607 | 1,501 | |
| Production | 26,155 | 26,227 | 27,130 | 28,680 | 6% |
| Imports | 303 | 376 | 621 | 550 | -11% |
| Supply, Total | 28,589 | 28,594 | 29,358 | 30,731 | |
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Domestic Disappearance
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| Biofuel | 10,379 | 12,510 | 12,989 | 13,600 | 5% |
| FSI | 14,449 | 14,099 | 14,251 | 14,000 | -2% |
| Exports | 1,771 | 378 | 617 | 1,600 | 159% |
| Use, Total | 26,598 | 26,987 | 27,856 | 29,200 | 5% |
| Ending stocks | 1,991 | 1,607 | 1,501 | 1,531 | 2% |
| Carryout % Usage | 7% | 6% | 5% | 5% | |
| Price $/Cwt. | $73 | $65 | $47 | $43 | -9% |
| USDA January 2025 estimates | |||||
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