Economic Optimism Drives Soybean Oil Rally

Soybean oil futures rallied Tuesday as a resumption of the rally in crude oil reflected increased optimism about the economy as state and local governments gradually relax restrictions put in place to slow the spread of the coronavirus. The rally drove soybean oil futures more than 2 1/4 percent higher (July contract +63 basis points per pound) and erased most of the decline that occurred in the last four days of last week. The…