Analyst Expects A Rally For Soybean Oil

Mar 22, 2023

By Larry Lee

A global market analyst is expecting better prices for soybean oil soon. Dan Basse with AgResource Company tells Brownfield soybean oil prices have likely bottomed out. “We kind of think that the oil or vegetable oil markets are making some important bottoms, both canola in Canada, soybean oil in the United States, and we’ll see a rally that starts after the stocks and seedings report that will probably take us to the end of the year.”

Basse says he’s expecting significantly higher prices for soybeans and soybean products. “Today, you think about soybeans, soybean meal, soybean oil. Altogether, it’s a flat price environment and we believe that the soybean market needs to go back above $16.00 sometime in the future just to make sure we have enough going into new crops globally.”

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Video: Dicamba Returns for Georgia Farmers: What the New EPA Ruling Means for Cotton Growers

After being unavailable in 2024 due to registration issues, dicamba products are returning for Georgia farmers this growing season — but under strict new conditions.

In this report from Tifton, Extension Weed Specialist Stanley Culpepper explains the updated EPA ruling, including new application limits, mandatory training requirements, and the need for a restricted use pesticide license. Among the key changes: a cap of two ½-pound applications per year and the required use of an approved volatility reduction agent with every application.

For Georgia cotton producers, the ruling is significant. According to Taylor Sills with the Georgia Cotton Commission, the vast majority of cotton planted in the state carries the dicamba-tolerant trait — meaning farmers had been paying for technology they couldn’t use.

While environmental groups have expressed concerns over spray drift, Georgia growers have reduced off-target pesticide movement by more than 91% over the past decade. Still, this two-year registration period will come with increased scrutiny, making stewardship and compliance more important than ever.