# Soybean oil futures fall to lowest level since Oct amid virus spread fears | S&P Global

> 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.

- Date: 2020-02-24 · published 2020-02-24T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/54687-soybean-oil-futures-fall-to-lowest-level-since-oct-amid-virus-spread-fears-s
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

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.

## Read by commodity

- SBM: bearish ▼
- SBO: bearish ▼
- SOY: bearish ▼

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/agriculture/022420-soybean-oil-futures-fall-to-lowest-level-since-oct-amid-virus-spread-fears

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