Foreign media: Due to the escalation of U.S. military strikes against Iran, the tense situation in the Middle East has caused severe fluctuations in the global commodities market.
Soybean oil prices soared to a two-year high, mainly driven by the rise in crude oil prices, as soybean oil can be used as a biodiesel feedstock and forms a substitute relationship with crude oil. At the same time, the conflict threatens the security of the Strait of Hormuz, a key global oil trade route, prompting agricultural traders to make emergency adjustments to their positions.
In addition to soybean oil, supply chains for agricultural products such as corn, soybean meal, fertilizers, and sugar are also facing the risk of disruption. Trump stated that bombing Iran could last for weeks, further increasing market uncertainty and driving investors to enter the agricultural futures market for risk avoidance.
Original article: toutiao.com/article/1858618737245315/
Statement: This article represents the views of the author himself.