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Soybean Futures Plummet with Crude Oil Amid Mideast Conflict De-escalation

Guavy AI Editorial Team
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Soybean futures at the Chicago Board of Trade fell in tandem with crude oil on Monday, as investors grew optimistic about de-escalation in the Middle East conflict following a pause in US-Iran attacks over the weekend.

West Texas Intermediate crude oil plummeted nearly eight percent to $82.30 per barrel, weighing heavily on soybean prices.

The USDA reported flash sales of 132,000 tonnes of soybeans to China and an additional 126,000 tonnes to unknown destinations, while weekly US soybean export inspections rose nine percent to about 350,000 tonnes, albeit below last year's levels.

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