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South American FOB soybean oil prices in Argentina and Brazil have fallen about 30% from late-April highs, back to pre-Russia-Ukraine-invasion levels. Argentine and Brazilian August-loading cargoes were assessed at $1,391.34/mt on June 23, the lowest front-month level since January.
Weak regional demand and a worsening macro backdrop are pulling vegetable oil prices lower, which points to softer soybean oil values and reduced pressure on meal-crush economics for feed buyers.
spglobal.comJun 24, 2022Not 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.
