Commodities
Home›Commodities›Energy Transition›Energy prices lift soy and other oilseed markets amid…
Energy prices lift soy and other oilseed markets amid El Niño risk
International Grains Council data shows soybean values up 7% over the prior month, and Chicago spot prices rose 8% as energy gains and demand supported oilseeds.
Oilseed prices moved higher in recent weeks, with World Grain citing rising world energy prices as a key driver. The International Grains Council, in its Grain Market Report published Sept. 17, pointed to bullish sentiment bolstered by concerns over El Niño-affected weather.
The IGC said soybean values rose 7% over the previous month, reflecting gains across key origins, and that Chicago futures rallied. It added that the spot position rose 8% against a backdrop of higher energy values linked to heightened geopolitical worries in the Middle East.
On the demand and supply side, the IGC reported support from firm local and international demand, including Chinese buyers securing more cargoes for shipment in 2026-27. It also said Brazilian premiums eased slightly since mid-August as US futures gained and some buying interest shifted toward US new crop supplies, though premiums remained firm due to tightening spot availability and continued export demand.
Other oilseeds firmed as well. World Grain said the IGC noted that ICE canola futures in Canada gained a net 1% month on month in two-sided activity tied to volatility in energy and vegetable oil markets, while UN Food and Agriculture Organization data showed world vegetable oil prices in August up 0.6% from July, reaching the highest level since June 2022.