Global Soybean Oil Futures Tumble On Weak China Demand, Market Eyes Brazilain Crop Too

23 Sep 2022 , 01:04 PM

The global Soya oil prices are turning lower. The global market is focusing on the developments in leading producer Brazil as planting of soybeans in the key Mato Grosso state. Indian Soybean harvest will also be getting ready in coming weeks. The commodity has been under stress on global economic growth worries and signs of a demand contraction in leading consumer China. Chinas soybean imports fell 24.5% in August compared to a year ago. The US Soya oil futures are down 1.64% to 66 cents per pound. The counter has shed nearly 8% in last one and half weeks.Powered by Commodity Insights