Soybeans were lower on fund and technical selling. Global vegetable oils were down on demand concerns linked to China’s zero-COVID policy. Outside markets were mostly bearish during the session, with the dollar up and crude oil down sharply. Domestic crush margins have dipped a bit, but remain firmly in positive territory. Soybean meal was down on the bearishness in the soy complex and the fundamental implications of another big crop in Brazil. Also, while China is very short of soybean meal, it’s not turning to the U.S.
