Soybean and soybean oil prices crashed with the August WASDE report issued today. Soybean prices fell more than 60 cents per bushel as soybean yields were increased, leading to a higher production outlook and stronger ending stocks for the 2015/16 crop year.

The December soybean oil futures contract hit a multi-year low of 28.79 before recovering slightly, ending the day with a 1.05 loss at 29.42 cents per pound.