# Soybean Market: Weather and Supply Swing Prices

> 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.

- Date: 2024-06-26 · published 2024-06-26T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/29861-soybean-market-weather-and-supply-swing-prices
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

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.

## Read by commodity

- SBO: bearish ▼
- SOY: bearish ▼

## Sources

- vespertool.com: https://vespertool.com/news/soybean-market-weather-and-supply-impact-prices/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.