# The Bearish Dominoes Fall on Soybean Prices in Early 2023

> DTN analysis says Dalian May soybeans hit a new contract low in 11 sessions, with soymeal and soy oil also dropping sharply. US soybean demand had looked strong, with USDA raising its export estimate to 2.015 billion bushels in March.

- Date: 2023-03-24 · published 2023-03-24T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/36941-the-bearish-dominoes-fall-on-soybean-prices-in-early-2023
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Sharp declines in Chinese and Dalian complex prices signal weaker global soy demand sentiment, pressuring soybean and meal values for feed buyers.

## Read by commodity

- SBM: bearish ▼
- SBO: bearish ▼
- SOY: bearish ▼

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/article/2023/03/24/bearish-dominoes-fall-soybean-prices

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