Edible oil futures prices were lower on Thursday, as a weaker U.S. dollar, rapid planting progress in the U.S. Midwest, and worries about the economy and regional banking crisis weighed on commodity markets as a whole. Funds also booked profits and liquidated long positions ahead of the release of the USDA’s latest monthly World Agricultural Supply and Demand Estimates (WASDE) on Friday. In the May report, the agency will provide the first look at its projections for the 2023/24 marketing year and an update for the current season. The agency is expected to show U.S. soybean oil ending stocks of 299 million pounds for the current marketing year.

In Chicago, the most actively traded soybean oil futures contract (for July delivery) ended 90 basis points per pound, or 1.7 percent, lower at 51.15 cents per pound. 

In Malaysia, benchmark July palm oil futures settled down 106 ringgits per tonne, or 2.9 percent, at 3,603 ringgits per tonne. Millers’ data suggested…