Tight supplies, due to increasing demand, aided U.S. soybean oil futures hitting a record high on Monday. This demand surge is likely in relation to the increased number of drivers returning to the roads as COVID-19 related shutdowns lessen. Prices for soybean oil for July delivery went up 0.37 cents at 71.71 cents per lb late morning, according to Chicago Board of Trade reports. During overnight trading sessions, prices hit their peak at 73.74 cents — the highest price recorded. Amidst this year’s shortage, soyoil futures skyrocketed 71.3% while end users have been clamoring for supplies to match demand. Get the current numbers.