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South American soybean oil spot prices fell below $800/mt for the first time since September 2020, with Argentine and Brazilian FOB levels down 6.7% and 8.4% year-to-date. The decline tracks lower CBOT futures and weak biofuel demand, as cheaper competing feedstocks and a sharp fall in D4 RIN prices reduce soybean oil's subsidy.
Weaker biofuel demand and cheaper competing feedstocks push soybean oil prices lower, weighing on vegetable oil and soybean complex values.
ukragroconsult.comFeb 8, 2024
spglobal.comFeb 5, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
