China soybean market weakens amid falling crush margins, COVID-19 lockdowns

China’s soybean market has weakened on negative crush margins and lower downstream demand for vegetable oil amid COVID-19-related movement restrictions and lockdowns in many cities, market sources told S&P Global Commodity Insights. The state-owned Sinograin has been releasing soybean oil in the domestic market as part of its stocks-rotation strategy, which has added downward pressure on soybean oil prices, the…