CBOT soybean oil plummeted, the benchmark period closed down by about 5.37%

May 31, according to foreign media reports, the Chicago Board of Trade (CBOT) soybean oil futures market closed sharply on Tuesday, of which the benchmark period closed down about 5.37%, close to the lowest level in more than two years hit two weeks ago. International crude oil futures fell sharply as concerns over whether the U.S. Congress will pass the U.S. debt ceiling agreement intensified, dragging down the soybean oil market. A sharp drop in Malaysian palm oil futures also weighed on the soyoil market.

Volume in soyoil futures was estimated at 152,237 lots Tuesday, compared with 107,246 lots in the previous session. The volume of empty positions was 544337 lots, compared with 544407 lots in the previous trading day.