Latin America soybean oil prices retreat 9% from record highs

Soybean oil prices in South America have lost nearly 9% since the April 28 record high, as sluggish demand from destinations and increasing supplies from Argentina and Brazil impacted market sentiment. Both Argentinian FOB Up River and Brazilian FOB Paranagua front-month outright prices were assessed at $1,745.40/mt on May 23, down 8.6% and 8.3%, respectively from the record highs reached…