About this chart: This is the weekly continuation chart of CBOT soybean oil. You can see the major low ($39.30) in December 2024, and the rally to the high ($58) in July 2025. Prices corrected to a major low ($47.50) in December 2025, then rallied to $78/50 in early May 2026. Now a close above $78.50 will project prices up for a test of the all-time high ($91.40).
What does this mean for you: The soybean market corrected lower this week, but I still think long-term that soybean oil and soybean futures will move higher.