Perhaps one of the most-consumed cooking oils, soybean oil is common in everything from paints to insect repellents. The extraction of soybean oil from the cracked soybeans takes place in low heat, with the left over residue ground up into soybean meal for animal feed. On average, around 30-33 million tons of soybean oil is produced annually worldwide. The Chicago Board of Trade has soybean oil contracts that trade at 60,000 lbs at a time.
Undated commodities are priced using the front two futures contracts, and are subject to a daily adjustment at 22:00 UK time. This adjustment offsets one day's movement between the two futures contracts and is made separately to the overnight charge.
Undated commodities are priced using the front two futures contracts, and are subject to a daily adjustment at 22:00 UK time. This adjustment offsets one day's movement between the two futures contracts and is made separately to the overnight charge.
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