Why Soybeans and Soybean Oil Closed Lower

Soybeans and Soybean Oil closed lower primarily as Soybeans moved back down to test support at the breakout levels just below the lows of the day yesterday. Soybean Oil weakened due to weakness in Crude Oil futures and subsequent demand concerns...

Why Soybeans and Soybean Oil Closed Lower
Soybeans and Soybean Oil closed lower primarily as Soybeans moved back down to test support at the breakout levels just below the lows of the day yesterday. Soybean Oil weakened due to weakness in Crude Oil futures and subsequent demand concerns due to the potential for closings to return due to a resurgence of the Coronavirus. Soybean Meal was higher as demand has greatly improved in the US and Canada.