US soybean oil stocks rise more than expected

According to a USDA report, U.S. soybean oil inventories in January totaled 2.43 billion pounds, up 11.7% from the previous month and 33.9% from a year earlier. These figures also exceeded market expectations, reaching the highest level since April 2023.

According to a USDA report, soybean oil inventories in January reached 2.43 billion pounds, up 11.7% from the previous month and 33.9% from a year earlier, significantly exceeding market expectations and reaching the highest level since April 2023. This indicates a significant supply glut and downward pressure on spot prices, as high inventories indicate insufficient demand. At the same time, coupled with the latest futures market data (for example, the closing price of the main soybean oil 2605 contract on the Dalian Commodity Exchange was 8350 yuan/ton, up 78 yuan), news of a sharp increase in inventories may reverse the recent rise, leading to downward pressure on futures prices and a significant negative impact.

Tags: soybean oil, USA, stocks