- Bullish: Black Sea sunflower oil and rapeseed rally on record-high benchmarks and firm vegetable oil complex.
- Bearish: Soybean meal and broader meal complex weaken on softer livestock feed demand.
Sunflower Oil Surges to Record High
Sunflower oil FOB Black Sea jumped $100.00/t on January 13, 2026, reaching $1,390.00/t versus $1,290.00/t in the prior session. This marks the highest recorded level for this benchmark and underscores rapidly tightening conditions in the Black Sea export corridor.
Vegetable Oil Complex: Broad-Based Gains
Vegetable oils traded higher across key origins, led by sunflower oil but supported by soybean and rapeseed oil strength. Soybean oil benchmarks in the US, Brazil, and EU all advanced, while rapeseed oil FOB Netherlands posted a weekly high.
| Commodity | Location / Contract | Price | Change (d/d) |
|---|---|---|---|
| Sunflower Oil | FOB Black Sea | $1,390.00/t | +$100.00/t |
| Soybean Oil | US CBOT | $1,119.51/t | +$21.16/t |
| Soybean Oil | FOB Brazil | $1,145.05/t | +$13.83/t |
| Soybean Oil | FOB EU | $1,285.74/t | +$12.03/t |
| Rapeseed Oil | FOB Netherlands | $1,222.35/t | +$6.62/t |
Meal Markets Under Pressure
In contrast to oils, meal values softened across the board. Soybean meal eased at all major benchmarks, with Brazil marking a price floor. Rapeseed meal and sunflower meal in Europe also edged lower, signaling weaker feed demand relative to oil demand.
| Commodity | Location / Contract | Price | Change (d/d) |
|---|---|---|---|
| Soybean Meal | FOB Brazil | $328.55/t | -$10.65/t |
| Soybean Meal | US CBOT | $315.70/t | -$9.04/t |
| Soybean Meal | CIF EU | $381.09/t | -$5.97/t |
| Rapeseed Meal | FOB EU | $235.16/t | -$5.19/t |
| Sunflower Meal | CIF France | $238.65/t | -$0.53/t |
Oilseed Benchmarks: Soybeans Softer, Rapeseed Strong
Oilseed prices were mixed. Soybeans traded lower across Brazil, US, and China, while rapeseed on MATIF France continued to firm, posting a fresh high and reinforcing bullish sentiment in the European rapeseed complex.
| Commodity | Location / Contract | Price | Change (d/d) |
|---|---|---|---|
| Soybeans | FOB Brazil | $403.47/t | -$1.89/t |
| Soybeans | US CBOT | $375.97/t | -$3.58/t |
| Soybeans | Dalian, China | $621.00/t | -$0.40/t |
| Rapeseed | MATIF France | $551.22/t | +$4.90/t |
Market Interpretation and Sentiment
The $100.00/t spike in Black Sea sunflower oil highlights tightening regional supplies and robust import demand, potentially reshaping trade flows as some price-sensitive buyers step back. The divergence between firm oils and softening meals points to stronger demand for food and biofuel feedstocks versus more cautious livestock feed buying. Overall sentiment is bullish for Black Sea sunflower oil and rapeseed, and bearish for the soybean meal complex.
Source: Market Data
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