# South American soybean oil prices drop to more than two-year low

> FOB soybean oil cash prices in South America fell below $1,000/mt to a more than two-year low, with Argentine and Brazilian May cargoes assessed near $988/mt on March 22. Prices are down about 20% so far in 2023 as CBOT futures lost 15%. Weak demand from China and India and a record Brazilian crop weighed on the market despite Argentina's drought losses.

- Date: 2023-03-28 · published 2023-03-28T12:00:00.000Z
- Category: market · region South America · magnitude low
- Page: https://feedsoft.ai/events/36951-south-american-soybean-oil-prices-drop-to-more-than-two-year-low
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Lower South American soyoil values reduce the cost of edible oil and feed-related fats, while very weak basis levels signal ample export supply. Bearish pressure on soybean oil also weakens crush economics, which can shift value toward soybean meal.

## Read by commodity

- SBO: bearish ▼
- SOY: bearish ▼

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/south-american-soybean-oil-prices-drop-to-more-than-two-year-low/

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