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.
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.
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 ...
