What it is
The oil pressed from soybeans. It is a cooking oil and an ingredient of processed food, and a growing share is turned into biodiesel and renewable diesel.
How it is usually quoted
US cents per pound.
This is the customary unit of the reference market. Other markets for the same commodity may use another unit or currency, and an exchange can change a contract’s terms: its own rulebook is the authority.
Where the reference contract trades
CME (Chicago Board of Trade); also the Dalian Commodity Exchange.
Named for orientation only. Naming an exchange or a market here does not mean that GIO4X gives access to it.
What commonly moves it
- Biofuel policy in the United States and Brazil
- The price of palm oil and other competing oils
- How many soybeans are being crushed
- The price of crude oil
These are the things people who follow this market usually watch. They explain how the market works; they do not say what the price will do next.
Where it comes from
China, the United States, Brazil and Argentina.
The order of producers changes from year to year, so no quantities or shares are given here.
At GIO4X
Soybean oil is not offered as a GIO4X instrument. This page is general education about a market that exists elsewhere, and nothing on it means that GIO4X quotes, trades or gives access to it.
The commodities GIO4X does list are Brent crude, gold, natural gas, palladium, platinum, silver and WTI crude.
Words worth knowing
A reference page. Educational information, not investment advice or a recommendation to trade. It gives no price and no forecast.