Cash indications for vegetable oils closed the week with a whimper. Traders attributed the quiet market tone to soft margins, as well as next week’s annual American Fats and Oils Association Conference in Nashville. Pressure should continue in the near term due to lackluster interior demand for soybean oil and other edible oils.

Soybean oil and palm oil futures advanced again on Friday on fresh buying. Energy and other commodities markets were broadly higher early in the day due to heightened geopolitical concerns. The soybean futures complex initially rebounded on Thursday after the USDA’s WASDE report showed larger-than-expected cuts to soybean stocks as well as lower-than-projected crop yields. 

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