Soybean price sentiment to have spillover effect

KUALA LUMPUR: The bearish near-term soybean price sentiment is likely to cause a knee-jerk negative impact on crude palm oil (CPO) price given the tight supply and demand balance for vegetable oil.

According to the United States Department of Agriculture 2022 planting report, US farmers intend to plant 91 million acres of soyabean and 89.5 million acres of corn, possibly due to skyrocketing fertiliser prices.