Palm Oil Rises to Two-Week High in Malaysia on Drop in U.S. Soybean Crop

(Bloomberg) -- Palm oil prices in Malaysia rose to a
two-week high on expectations demand for the world's largest
traded vegetable oil will increase as supply of competing
soybean oil declines from a lower U.S. crop.

U.S. farmers planted the lowest acreage to soybeans in 12
years this year as they switched production to corn, according
to a June 29 report from the U.S. Department of Agriculture.
Palm oil is the most consumed vegetable oil in the world,
followed by soybean oil.


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