American soybean oil is quoted at cents per pound. 59.3 1 means 59.3 1 cent/pound.

Weight and volume conversion of soybean oil: 1 lb = 0.004536 metric tons,

US soybean oil (at 59.3 1 cent/pound) is converted into tons: 59.31/0.0004536 =130753.97 cents/ton (two decimal places) = 1307.5397 USD/ton.

The exchange rate of USD against RMB is 6.5668:1307.5397 * 6.5668 = 8586.35 yuan/ton (two decimal places).

The conversion of US soybean oil into RMB is 8586.35 yuan/ton, and the price of a catty is about 4.29 yuan.