# Soybean Market Review: Domestic Markets Down, South American Harvest Almost Complete

> Indian edible oil and oilseed markets have been under pressure since early June, driven by weaker overseas edible oil prices, a weaker rupee and softer crude. Malaysian palm oil futures fell about 8% for a second straight week, while Chicago soybean futures remain high despite forecasts for a record U.S. harvest. USDA raised Brazil's 2021/22 soybean estimate to 126 million tonnes.

- Date: 2022-06-19 · published 2022-06-19T12:00:00.000Z
- Category: market · region India · magnitude low
- Page: https://feedsoft.ai/events/41024-soybean-market-review-domestic-markets-down-south-american-harvest-almost
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Higher South American supply and weaker palm oil reduce global vegetable oil and meal support, while Indian buyers face a weaker currency that raises the landed cost of imports.

## Read by commodity

- SBO: bearish ▼
- SOY: bearish ▼
- USDINR: bearish ▼
- PALMOIL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBO | 2022-06-20 | 1 | -4.7% | -3.9 | Malaysian palm oil futures fell about 8% for a second week amid weaker crude and overseas edible oil prices, dragging down competing vegetable oils such as soybean oil. |

## Sources

- krishijagran.com: https://krishijagran.com/commodity-news/soybean-market-review-domestic-markets-down-south-american-harvest-almost-complete/

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