Palm Oil is Steady; Dry Weather Could Lift Prices Further

Crude palm oil prices were slightly lower on the week with both headwinds and tailwinds driving the markets.  With South American soybeans continuing to flow into the market some U.S. farmers may be forced to switch intended corn acres to soybeans due to wetness.  The recent strength in the Canadian dollar has made canola less attractive adding to the headwinds faced by palm oil. Forecast of El…