On June 27, according to media reports, soybean oil futures on the Chicago Board of Trade (CBOT) closed sharply higher on Monday, with the benchmark period closing up about 2.20%, mainly due to the strengthening of Malaysian palm oil and international crude oil.
As of the close, soybean oil futures rose by 0.98 cents to 1.57 cents, of which the July futures closed 1.57 cents higher at 59.51 cents per pound; the August futures closed 1.43 cents higher at 58 cents /lb; December futures closed 1.22 cents higher at 56.18 cents/lb.
The most active trading range for the December futures contract was between 54.75 cents and 56.34 cents.
Malaysian palm oil futures rose nearly 3 percent on Monday, while international crude oil futures strengthened, boosting sentiment in the soybean oil market.
