.jpg)
4 hours ago
2
![4ac]4rc}{ur5md)vnzs8aw7o_media_dl_1.png](https://smartcdn.gprod.postmedia.digital/financialpost/wp-content/uploads/2026/03/investors-have-biggest-net-long-in-soyoil-since-2016-higher.jpg?quality=90&strip=all&w=288&h=216&sig=8sdJgAV4LK39QSBeE8uJIQ)
Article content
(Bloomberg) — Soybean oil climbed as much as 3.4% in Chicago as higher crude oil costs prompted by the Iran war continued to boost the biofuel sector.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Prices for soyoil, used to make renewable diesel and foods such as salad dressing, are nearing a fresh three-year high after US President Donald Trump threatened to hit Iranian energy assets while crude oil advanced.
Article content
Article content
Article content
The soyoil jump comes after the White House on Friday unveiled long-awaited biofuels blending standards that increase requirements for fuels made from crops. The mandate “materially increases biomass-based diesel demand in 2026, underpinning feedstock demand, especially soybean oil,” No Bull Ag analyst Susan Stroud said.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
Soyoil for May delivery rose to 69.68 cents per pound, just below a March 9 peak that marked the highest since late-2022. That’s as investors are the most bullish on soybean oil in nearly a decade, according to regulatory data.
Article content
Prices for palm oil also rose sharply after Indonesian President Prabowo Subianto said the top producer is going “a big way” into biofuels.
Article content
Stronger demand for biofuel, along with higher costs for fertilizer due to the war, is likely to prompt American growers to increase planting of soybeans at the expense of corn this spring.
Article content
Analysts surveyed by Bloomberg expect the US Department of Agriculture to show soy plantings rising while corn sowings are likely to fall by an equal amount in the annual prospective planting report due Tuesday. Analysts also expect the USDA to show bigger stockpiles of soy, corn and wheat from a year ago.
Article content
—With assistance from Pyotr Kozlov.
Article content
English (US)