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Soybean oil futures on CBOT fell to $959/mt on June 24 from $964/mt the week before, and the Vesper Argentina forward index also declined. USDA crop ratings showed 67% of soybeans rated good to excellent, down from 70%, which was steeper than expected.
Strong South American supply also weighed on the complex.
Routine price moves tied to a weather-driven crop rating and steady Latin American supply point to lower soy oil values in the near term.
vespertool.comGehrman KosenkovJun 26, 2024Not 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.
