Following a sideways day of trading for global vegetable oil futures, palm and soybean oil prices ended lower on Friday on profit-taking and the liquidation of long positions by funds. U.S. soybean oil prices reversed early gains that were driven by the expected expiration of the Black Sea export deal on July 17 and weakness in the U.S. dollar, which fell to a 14-month low this week.
On the CME, nearby August soybean oil futures ended near 65.00 cents per pound on Friday, while December traded down to close the session near 61.00 cents per pound.
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