Vegoils commentary: CME soyoil rebounds on ramp-up in biofuels production

Soyoil futures in Chicago rebounded steeply to erase the previous day’s losses on Wednesday June 26, when Phillips 66 announced a ramp-up in the run rate of one of its biofuels plants in the US, and crude palm oil (CPO) futures in Malaysia traded marginally higher with support from firmer related vegoils and stronger crude oil values.