Fastmarkets’ soybean oil futures forecast

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The war between Israel, the United States and Iran is already affecting the flow of agricultural commodities from South America to Iran, particularly feed, with some soymeal cargoes said to have been washed out, market sources told Fastmarkets in the week to Thursday March 5.
Indian vegetable oil buyers are awaiting further details of a recently announced India-US trade deal, in which India is expected to reduce tariffs on certain US goods, including imports of soybean oil.
Fastmarkets’ weekly recap of the main movements in global cash markets.
The year of 2025 was one of uncertainty for the US vegetable oil market, with unresolved federal biofuel and tax policies sparking major shifts in supply and demand.
Ukraine exported 420,200 tonnes of sunflower oil in December 2025, up 3% from 409,300 tonnes in November, according to preliminary customs-based data compiled by the Ukroliyaprom Association.
Fastmarkets has corrected its AG-SYB-0078 Crush Margin China Soy (Brazil) M1 Yuan/mt and AG-SYB-0079 Crush Margin China Soy (US Gulf) M1 Yuan/mt, which had all forward curve months published incorrectly in February, and between April and September.