Palm Oil Jumps to Record High Ahead of Long Holiday Weekend

Author: Tore Alden

Palm Oil Jumps to Record High Ahead of Long Holiday Weekend

Vegetable oil prices were higher on Wednesday as overnight gains in palm oil and a rally in soybean futures drove gains in soybean oil. However, prices rallied ahead of the United States Department of Agriculture's (USDA's) projections, and futures were unable to capture the pre-report highs following the release of the data.

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