RFS 2017 announcement boosts soy and palm oil prices around the world

November 24, 2016 |

In Washington, the larger-than-expected biodiesel blending made under the Renewable Fuel Standard in 2017 announced on Wednesday provided additional support to vegetable oil futures that were already higher due to a minor uptick in petroleum prices. Soyoil futures jumped nearly 7% in Chicago on the news, helping to boost Malaysian palm oil prices to a four-year high. Chinese soy oil and palm oil futures also rose, the latter reaching a contract high before settling slightly lower.

Category: Fuels

Thank you for visting the Digest.