SOYBEAN OIL PRICES FALL SHARPLY ON PROFIT TAKING, LONG-TERM OUTLOOK REMAINS BULLISH

Renewed optimism about a potential trade deal between the United States and China highlighted by fresh Chinese purchases of at least one million tonnes of soybeans drove soybean futures higher on Friday. However, early double-digit gains were pressured by selling throughout the day to trim the gains for the day to about 1/4 percent…