Chicago: Soybeans Oil bottomed around $16-per-bushel, a level not seen in a month, as investors’ fears over a further disruption in supplies from the Black Sea eased amid continuing peace talks between Russia and Ukraine.
Still, the market remains very tight on the heels of Russia’s invasion of Ukraine and Argentina’s decision to halt export registrations of soybean oil, soy meal, and other related products.
The world’s top exporter, Argentina, said the government wants to raise tariffs to 33% from the current 31%. The move pauses sales and exports of the 2021/22 crop, which could tighten the oilseed supplies already squeezed by drought
