# Oil prices fall sharply; soymeal trades weak

> Dalian soymeal futures contract 01 rose 0.76% to 3198 yuan/ton while rapeseed meal fell 0.94%. CBOT January soybeans fell 18 cents to 1216 cents/bushel as Iran peace talk expectations pulled crude oil sharply lower. Brazil's soybean planting reached 56.4% by 30 October, ahead of last year and the five-year average.

- Date: 2026-11-03 · published 2026-11-03T06:05:54.500Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/77030-oil-prices-fall-sharply-soymeal-trades-weak
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Lower crude weakens the biofuel link that supports soyoil and palm oil, and fast Brazilian planting eases supply worries for soymeal. Palm oil is expected to trade in a low range given ample supply and rising Malaysian exports.

## Read by commodity

- SBM: bearish ▼
- SBO: bearish ▼
- SOY: bearish ▼
- WTI: bearish ▼
- BRENT: bearish ▼
- CANMEAL: bearish ▼
- PALMOIL: bearish ▼

## Sources

- finance.eastmoney.com: https://finance.eastmoney.com/a/202611033919553468.html

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