For the first time in nine consecutive trading sessions, US soybean oil futures in Chicago fell on Thursday September 26. Funds took profits and sold positions alongside losses in crude oil futures.
The October soybean oil contract closed the day at $0.4292 per lb, down by $0.0146 per lb, 3.3%, from a close of $0.4438 per lb on Wednesday September 25.
December soy oil futures ended at $0.4290 per lb on Thursday, down by $0.0125 per lb, 2.8%, from a settlement of $0.4415 per lb during the previous trading session.
A massive drop in soybean oil exports and sales also weighed on soybean oil prices.
Figures from the USDA published on Thursday showed US soybean oil exports and sales fell sharply from 2023/24 marketing-year highs.
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