CBOT Soybean Oil Drops 6% in Week Ending June 19, Largest Weekly Loss in Months

According to Jin10 Futures, CBOT soybean oil futures fell 6% in the week ending June 19, marking their largest weekly decline in several months and closing at a two-month low. The sell-off was driven by funds liquidating long positions following a collapse in crude oil prices after the U.S.-Iran peace agreement, combined with a stronger dollar following the Federal Reserve's hawkish guidance.

Meanwhile, the National Oilseed Processors Association reported soybean oil inventories held by members in late May at 1.74 billion pounds, down 10.6% from the prior month and marking a five-month low, below market expectations of 1.86 billion pounds.