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CBOT March soybean oil futures settled at 29.49 cents/lb, the lowest since October 2, as coronavirus spread outside China drove a broad selloff in grain and oilseed markets. Soybeans and soybean meal also fell sharply.
Concerns about weaker Chinese and global demand pushed oilseed complex prices lower, and soybean oil's link to biodiesel means it also tracks US biofuel policy. Lower oil and meal prices reduce feed-ingredient costs for buyers.
spglobal.comWesley SwiftFeb 24, 2020Not 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.
