CBOT soybean oil fell, the benchmark period closed down about 0.48%

On June 6, according to foreign media reports, the soybean oil futures market closed slightly lower, and the benchmark period closed down by about 0.48%. The main reason was that the arbitrage of buying soybean oil and selling soybean meal was unlocked.

The unlocking of the arbitrage of buying soybean oil and selling soybean meal has put pressure on soybean oil prices, traders said.

U.S. soybean oil prices are well above competing vegetable oils because of strong demand for biodiesel in the U.S., the U.S. Department of Agriculture said.