Chuangshi Futures: Overnight International Soybean and Rapeseed Complex Plunge Expected to Weigh on Domestic Market Sentiment

Overnight, international oilseed and oil markets plummeted. U.S. soybeans and soybean oil hit their daily limit down, while rapeseed fell 5%. The trade negotiations between China and the U.S. in Paris did not meet market expectations for an additional purchase of 8 million tons of old-crop U.S. soybeans, and Trump threatened to delay his visit to China. There are also rumors that the RVO policy may be postponed until April, and overnight declines in international crude oil prices have further accelerated the drop in oilseed and oil markets. Overall, the failure to meet demand expectations has triggered a sharp correction in recently overextended U.S. soybean and rapeseed markets, which will transmit through costs to the domestic market. Today, the declines in two major soymeal varieties are expected to widen, and overall oilseed and oil prices will also remain under pressure. (Chuangchuang Futures)

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