Palm oil rallies oilseeds

Palm oil prices pushed on a new high again. This was the second day of support from concerns for a potential Indonesian palm oil export restriction. Along with that, the US trade is rumors again of potential Chinese purchases. The trade ignored a slightly better forecast for South America. Soybeans soared to a new high for this uptrend in place since 12/15. It also posted a new high close for the uptrend. Believe it or not but the March is now just 23 3/4 cents from retested the all-time high from June. New crop November did push to new all-time highs today but closed "only" at second best.

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