Veg Oils Rally ahead of RVO Announcement

Author: Alexandra Watts

Veg Oils Rally ahead of RVO Announcement

Palm oil and soybean oil futures ended sharply higher on Friday, as traders covered positions ahead of next week’s RVO announcement from the U.S. EPA. The big market feature heading into the day was the release of the USDA's May World Agricultural Supply and Demand Estimates (WASDE). The report, however, proved to be a rather dull one for soybeans and the byproducts.

The agency made marginal changes to its U.S. 2022/23 ending soybean and soybean oil supply/ demand estimates but held steady mostly...

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