CHICAGO: U.S. soybean oil futures rallied to a record high on Monday, with tight supplies in focus due to strong demand from the biofuel sector as drivers return to roads following COVID-19 related shutdowns.
Chicago Board of Trade soybean oil for July delivery was up 0.24 cent at 71.58 cents per lb late morning. Prices peaked at 73.74 cents, surpassing the previous 2008 record, during the overnight trading session.
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