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Strong Demand And Supply Disruption Pushing SoyBean Oil To High

Chicago Soybeans: Oil traded above $17 per bushel, close to their highest since September 2012 supported by prospects of strong demand for US supplies and shipment disruptions from the Black Sea region.

Adverse weather in parts of Brazil and Argentina is cutting grains and oil seeds production, which coupled with higher freight costs boosted hopes for higher demand for US shipments.

However,China brought in 3.37 million tonnes in March from the US, compared to 7.18 million a year earlier as poor livestock production margins curbed buying.

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