Vegetable Oils Prices Jump on Bullish Fundamental Data

Vegetable oil prices jumped sharply on Monday as bullish fundamental data for palm oil exports and soybean oil usage in biofuel production combined with a rally on the Dalian exchange to trigger buying. Once again, crude oil futures rallied during U.S. trading hours, after trading lower for most of the overnight session.

Soybean oil futures rose as much as 2 1/2 percent (September contract +75 basis points per pound) to settle at a post-pandemic crash high. Selling above…