Palm Oil Consolidates Gains Following Surge in Bean Oil

Crude palm oil prices hit a three-month high early this week and have consolidated thouse gains following a surge in soy bean oil prices. The U.S. July soyoil contract climbed almost 9 percent during the first couple of trading session of the month, lifted by increased biodiesel targets by the U.S. Environmental Protection Agency, a move that may spur consumption of the edible oil.

The Environmental…