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CBOT Soybean Futures Fall 0.7% on Crude Oil Collapse, Down Third Day in Four

2026-06-24 23:39:18

According to Jin10 Futures, on Wednesday, CBOT soybean futures closed lower, with the benchmark contract declining 0.7% as crude oil prices plunged over $3 per barrel to a four-month low. The selloff was driven by speculation funds exiting positions and easing supply concerns as more tankers departed the Strait of Hormuz. Soybean futures typically track crude oil movements, as soybeans are a primary feedstock for biofuel production.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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