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Soybean and soybean oil futures fell last week, with November soybeans down 1.7% and soybean oil down 3.8%. Brent crude dropped to an eight-month low near $86 a barrel, and the dollar hit a 20-year high.
Weaker energy prices, a strong dollar and favorable Brazilian planting weather reduce support for soybean and soyoil prices.
ukragroconsult.comSep 26, 2022Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not 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.
Dated the same day, it attributes the soybean oil slide to falling crude oil (lower biofuel/energy value) and a record-strong dollar, which weigh on export demand and prices.
