Extension of Plantation Shutdowns Drives Palm Oil Higher, but Fund Spreading and Decline in Crude Oil Limit Gains in Soybean Oil

Extension of Plantation Shutdowns Drives Palm Oil Higher, but Fund Spreading and Decline in Crude Oil Limit Gains in Soybean Oil

Extension of Plantation Shutdowns Drives Palm Oil Higher, but Fund Spreading and Decline in Crude Oil Limit Gains in Soybean Oil 

World vegetable oil markets continued to move higher on Monday, despite another sharp decline in crude oil prices. However, the gains in palm oil were substantially larger than they were in the soybean oil market. Palm oil was supported by an expansion of the shutdowns of plantations…

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