THE soyoil and soybean rally on the Chicago Board of Trade (CBOT), which hit a 19- and 15-year high respectively following news of low soybean yield in South America and tight stocks in the United States, has strengthened the bullish sentiment on crude palm oil (CPO) prices.
With the spot CPO price already hitting the magical RM2,000 per tonne, market players are wondering if the high price could be sustained on the commodity's own strength or if it would continue to take the lead from CBOT.
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