Commodities
Soybean Prices Plummet on Stiff Declines in Soyoil
Soybean futures at the Chicago Board of Trade plummeted on Wednesday, weighed down by significant declines in soyoil.
The United States Department of Agriculture reported that the July soybean crush was 8.2% higher than last year at 221.9 million bushels.
The USDA also announced a private sale for 202,000 tonnes of 2026-27 soybeans to China and released data showing soyoil stocks rose 4.7% from last year to 1.96 billion pounds.
Corn futures were lower due to the impact of declining soybean prices, despite gains in crude oil.