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Mysteel oils market daily: Postponement of China-US ummit likely; sharp fall in US soybeans drags down soyoil price

Source: Mysteel Mar 17, 2026 09:42
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Plant Oil Demand Price Supply
The head of the International Energy Agency indicated that more reserves might be released, and some vessels are transiting the Strait of Hormuz, leading to a decline in international oil prices. Meanwhile, the China-US meeting may be postponed, casting doubt on the expected US soybean exports, causing a significant drop in US soybean prices and a high-level retreat in nighttime soyoil futures. On the spot market, the buying and selling atmosphere is relatively subdued. According to Mysteel's inventory statistics, national soyoil inventories have slightly decreased, with future supply expected to reduce, maintaining a drawdown in soyoil stocks. However, due to relatively high flat prices, downstream purchasing interest is generally tepid.

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