Vegoils commentary: CPO surges to year-to-date high; soyoil drops on profit-taking

Vegetable oils traded in opposite directions on Wednesday February 19. In Asia, crude palm oil (CPO) futures surged to an intra-year high, tracking gains in the wider vegoil complex, while a stronger cash market also supported prices. Soyoil futures on the Chicago Mercantile Exchange lost ground from earlier gains and went to negative territory amid a profit-taking movement at the time of publication.