- Broad rally in vegetable oils: Sunflower, soybean, rapeseed and palm oils all moved higher, led by US CBOT soybean oil, signaling robust global demand and tighter supply expectations.
- Softness in meal markets: Soybean meal prices weakened in Brazil, the US and EU while rapeseed meal in the EU edged higher, pointing to comfortable protein supply and improved crushing margins.
- Mixed oilseed performance: Soybeans traded unevenly across regions, but rapeseed futures in France reached weekly highs, underscoring regional divergence in oilseed fundamentals.
Vegetable Oil Market Update
Global vegetable oil markets strengthened on February 9, 2026, with gains across sunflower, soybean, rapeseed and palm oil benchmarks. Sunflower oil FOB Black Sea rose $5.00/t to $1,285.00/t, while the key destination market of Mumbai saw sunflower oil CIF values climb $9.95/t to a weekly high of $1,422.85/t.
Soybean oil led the complex higher. US CBOT futures surged $29.98/t to $1,249.80/t, marking maximum weekly levels. European soybean oil FOB increased $16.51/t to $1,303.91/t, Brazilian FOB gained $7.96/t to $1,182.16/t, and Dalian China advanced $6.03/t to $1,182.90/t.
Rapeseed oil FOB Netherlands moved $16.37/t higher to $1,283.06/t, also at a weekly high. The palm oil complex posted moderate gains: Malaysian palm oil FOB advanced $7.46/t to $1,074.60/t, Dalian RBD palm oil increased $3.11/t to $1,286.04/t, and palm kernel oil FOB Malaysia rose $9.95/t to $2,049.70/t. Coconut oil FOB Indonesia remained unchanged at $2,810.90/t.
| Commodity | Market / Basis | Price (USD/t) | Change (USD/t) |
|---|---|---|---|
| Sunflower Oil | FOB Black Sea | 1,285.00 | +5.00 |
| Sunflower Oil | CIF Mumbai | 1,422.85 | +9.95 |
| Soybean Oil | US CBOT | 1,249.80 | +29.98 |
| Soybean Oil | FOB EU | 1,303.91 | +16.51 |
| Soybean Oil | FOB Brazil | 1,182.16 | +7.96 |
| Soybean Oil | Dalian China | 1,182.90 | +6.03 |
| Rapeseed Oil | FOB Netherlands | 1,283.06 | +16.37 |
| Palm Oil | FOB Malaysia | 1,074.60 | +7.46 |
| RBD Palm Oil | Dalian China | 1,286.04 | +3.11 |
| Palm Kernel Oil | FOB Malaysia | 2,049.70 | +9.95 |
| Coconut Oil | FOB Indonesia | 2,810.90 | 0.00 |
Meal and Oilseed Market Update
Meal markets diverged from the strength in oils. Soybean meal FOB Brazil slipped $0.90/t to $334.32/t, US CBOT declined $6.39/t to $328.27/t and CIF EU dropped $9.95/t to $379.10/t. In contrast, Dalian China soybean meal edged up $0.33/t to $432.82/t, while rapeseed meal FOB EU gained $1.22/t to $294.26/t.
In oilseeds, soybeans were mixed across origins. FOB Brazil soybeans inched $0.20/t higher to $417.00/t, US CBOT soybeans softened $1.65/t to $408.12/t, and Dalian China soybeans firmed $3.53/t to $626.55/t. Rapeseed MATIF France advanced $6.52/t to $582.86/t, hitting the highest value of the week.
| Commodity | Market / Basis | Price (USD/t) | Change (USD/t) |
|---|---|---|---|
| Soybean Meal | FOB Brazil | 334.32 | -0.90 |
| Soybean Meal | US CBOT | 328.27 | -6.39 |
| Soybean Meal | CIF EU | 379.10 | -9.95 |
| Soybean Meal | Dalian China | 432.82 | +0.33 |
| Rapeseed Meal | FOB EU | 294.26 | +1.22 |
| Soybeans | FOB Brazil | 417.00 | +0.20 |
| Soybeans | US CBOT | 408.12 | -1.65 |
| Soybeans | Dalian China | 626.55 | +3.53 |
| Rapeseed | MATIF France | 582.86 | +6.52 |
Market Analysis and Implications
The broad rally in vegetable oils, led by US soybean oil, underscores strong global demand and expectations of tighter supplies. For Black Sea exporters, the $5.00/t rise in sunflower oil FOB to $1,285.00/t keeps the region competitive, while the $137.85/t spread to CIF Mumbai highlights firm import demand and favorable freight economics into South Asia.
Weakness in Western soybean meal benchmarks versus firmer oils widens crush margins, potentially incentivizing higher crush rates and supporting oilseed demand. The modest firmness in Chinese meal and soybeans, alongside strength in MATIF rapeseed, signals regional divergence but a generally supportive backdrop for oilseed processors and exporters, particularly in the Black Sea sunflower segment.
Source: Market Data
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