An acylglycerol-based molecule was synthesized by, the thermal polymerization (bodying) of soybean oil followed by transesterification with glycerol. Transesterification with glycerol at temperatures greater than 200 degrees C provided the desired polyol prepolymers. The extent of bodying and quantity of glycerol added during the transesterification provided tunability of the polyol molecular weight and functionality. The hydroxyl numbers, acidity, and viscosity of the polyols were characterized. The polyols were evaluated in elastomers and rigid foams. Extractability analyses were performed on the polyurethane elastomer wafers to evaluate crosslinking. Rigid foaming results for the processed soy-based polyol showed excellent physicochemical properties suggesting comparability with a petroleum-based polyether polyol. (C) 2008 Wiley Periodicals, Inc. J Appl Polym Sci 112: 19-27, 2009