Global price of Soybeans Oil
This dataset tracks global price of soybeans oil over time.
Latest Value
1168.54
Year-over-Year Change
21.19%
Date Range
1/1/1990 - 6/1/2025
Summary
The Global price of Soybeans Oil tracks the international market price for this key agricultural commodity. It is an important economic indicator for agricultural markets, food prices, and trade flows.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Global price of Soybeans Oil measures the spot price for refined, bleached, and deodorized soybean oil, quoted in U.S. dollars per metric ton. This benchmark price is widely used to assess global supply and demand dynamics for this major vegetable oil.
Methodology
The data is collected and reported by the World Bank's Pink Sheet commodity price data.
Historical Context
Soybean oil prices influence production, consumption, and trade policies for a range of industries including food, biofuel, and animal feed.
Key Facts
- Soybeans are one of the world's most widely traded agricultural commodities.
- Soybean oil is a leading vegetable oil, accounting for over 30% of global vegetable oil production.
- Prices are influenced by supply, demand, and trade policies for soybeans and soybean products.
FAQs
Q: What does this economic trend measure?
A: The Global price of Soybeans Oil measures the international spot market price for refined soybean oil, a key agricultural commodity.
Q: Why is this trend relevant for users or analysts?
A: Soybean oil prices are an important indicator for agricultural markets, food production and trade, as well as biofuel policies.
Q: How is this data collected or calculated?
A: The data is reported by the World Bank's Pink Sheet commodity price database.
Q: How is this trend used in economic policy?
A: Soybean oil prices influence policies related to agricultural production, food trade, and biofuel mandates.
Q: Are there update delays or limitations?
A: The data is published monthly with a short lag, and may not capture rapid intra-month price fluctuations.
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Citation
U.S. Federal Reserve, Global price of Soybeans Oil (PSOILUSDM), retrieved from FRED.