Soybean oil prices are climbing as bean stocks continue to fall.

Chemical Market Reporter, May, 1997 by Scheraga, Dan

SOYBEAN OIL PRICES are climbing under pressure from rapidly shrinking bean and oil stocks. Strong exports, to China in particular, and heavy crush is keeping domestic soybean stocks on the decline, although producers are rationing their inventories to make them last. Soybean crush remains strong, with a US Department of Agriculture domestic crush forecast of 38.65 million metric tons for the current crop year, 1.38 million tons above last year.

Oil stocks remain sufficient, with a USDA ending stocks projection of 860,000 tons. Although oil remains the least bullish member of the soy complex according to Anne Frick, soybean analyst with Prudential Securities, consumption is strong enough to keep prices rising. Soy oil prices rallied 2 cents in April to...