Crude oil rout pressures South American soybean oil prices

South American soybean oil FOB prices declined Nov. 4 as a sharp selloff in crude oil weighed on Chicago Board of Trade soybean oil futures, pulling outright export values lower in Argentina and Brazil. NYMEX December West Texas Intermediate crude futures fell $7.97, or 8.3%, to settle at $88.12/b on Nov. 4.