Soybeans Oil (Expiring Future) SoyOil.FUT

Soybeans Oil is a traded commodity that is made by extraction from soybeans. The process involves crushing the beans and separating the oil, which will then be refined and distilled to remove any contaminating parts. The uses of the asset are primarily for cooking purposes, such as frying and baking, but can also be used in sauces and dressings, and other snacks.

Soybeans were initially produced and traded in Ancient China, and its production has migrated across the world since the industrial revolution and globalisation. In the 1940s, the United States was the primary supplier and producer due to its wartime needs of additional oil and domestic fats.

The price of Soybeans Oil can depend on the soybeans themselves – the growth of them, the quality, supply and demand. For instance, there may be a shortage of other oils, which would increase the demand and price of Soybeans Oil. Like the other soybean ingredients, it is traded on a futures contract, meaning that investors can trade on a set date, a set amount, with a set price, for some time in the future.

Keep an eye on price movements of SoyOil by adding it to your eToro watchlist.