# Thin demand keeps Latam soybean oil at more than two-year lows | Hellenic Shipping News Worldwide

> Cash prices for South American FOB soybean oil cargoes are hovering near two-year lows as overseas demand remains weak. Platts assessed Argentine and Brazilian July-dated soybean oil at $881.85/mt on May 24, down more than $1,000/mt from April 2022 highs. Cheaper Black Sea sunflower oil and a discount to palm oil are limiting buying interest.

- Date: 2023-05-29 · published 2023-05-29T12:00:00.000Z
- Category: market · region South America · magnitude low
- Page: https://feedsoft.ai/events/36022-thin-demand-keeps-latam-soybean-oil-at-more-than-two-year-lows-hellenic
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Competing vegetable oils trading at a discount are capping demand for South American soybean oil, keeping prices under pressure. Weaker oil values also weigh on crush margins and the soybean meal co-product outlook for feed buyers.

## Read by commodity

- SBM: neutral
- SBO: bearish ▼
- PALMOIL: bearish ▼

## Sources

- hellenicshippingnews.com: https://www.hellenicshippingnews.com/thin-demand-keeps-latam-soybean-oil-at-more-than-two-year-lows/

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