Palm Oil Prices Surge Higher as the Dollar Gains Traction

Palm oil prices continued to surge has as potential weather conditions and declining supplies are buoying prices. There is a growing realization that the El Nino may be even more severe than the one in 1997. The weather phenomena will hurt production and supply and prices should continue to rise. This coupled with weakness in Asian currency against the U.S. dollar will benefit price action.

Commodity…