The products are different in nature.
Although they are all petroleum, crude oil is the raw material for mineral production and chemical industry; Soybean oil is an agricultural by-product. Soybean oil can be used as food. In the new technology, soybean oil can be used for the research and development of biofuels.
The price change factors are different.
Although both crude oil and soybean oil have futures spot contracts in financial products; The change of crude oil price is affected by the supply and demand of crude oil production and demand, and soybean oil is affected by the supply and demand of soybean oil production and demand. There is no internal connection between them and there is no comparability. Compared with the industrial exploitation of crude oil, soybean oil depends on the cultivation of crops and is greatly affected by uncontrollable factors such as weather.
Relationship and difference between crude oil and soybean oil in price
If there is a connection between the two, it is that the NYSE and Chicago Stock Exchange, which have a large trading volume, are quoted in US dollars, and both of them are affected by the exchange rate fluctuation of the US dollar itself. Another point is that if the price of crude oil rises beyond a certain limit, soybean oil will easily flow into the energy industry driven by interests, and soybean oil used to make biofuels will also increase, thus pushing up the price of soybean oil; On the other hand, if the price of crude oil falls, the rate of return of soybean oil can be used for food and does not necessarily need to flow into the energy market, so its price may be affected to some extent and fall back, but it cannot form an effective negative correlation.
There is nothing else to say, because it is two different product contracts. If you put them together to tell the difference, you might as well look at them separately and talk about the connection, which is easier to understand.