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Soybean and grain prices hit two-month lows
Soybean oil prices on the Chicago Exchange have fallen to their lowest level in two months, influenced by declining oil prices and expectations of a return to shipping activity through the Strait of Hormuz following a temporary agreement between the United States and Iran. The price of soybean oil decreased by 2.7%, reaching 68.94 cents per pound, while canola contracts declined by 2.1%, amid increased selling by investment funds as geopolitical tensions ease and weather conditions improve in American farming regions.
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