Palm Kernel Oil prices in the United States started July **** on a strongly bullish note, extending the recovery that began in late June and pushing the market into a clear upward trajectory. Although Palm Kernel Oil values had weakened for most of June, late-month supply concerns and renewed buying activity reversed the trend. Early June witnessed significant pressure on Palm Kernel Oil prices as softer sentiment across the palm complex and stronger harvests in Southeast Asia improved export availability. By late June, however, tighter supplies at key export hubs and aggressive inventory replenishment along the U.S. Gulf Coast supported a notable rebound in Palm Kernel Oil prices.
Domestic oilseed fundamentals also strengthened the outlook for Palm Kernel Oil. Deteriorating U.S. corn and soybean crop conditions increased expectations for higher soybean oil prices, enhancing the attractiveness of Palm Kernel Oil as a preferred feedstock...
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