Palm Oil Drops to Two-Week Low as Soybean Harvests Set to Expand
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Palm oil dropped to the lowest level in more than two weeks amid forecasts for larger soybean harvests in the U.S., Brazil and Argentina, adding to supplies of oilseeds and cutting demand for the tropical oil.
The contract for April delivery fell 0.3 percent to 2,497 ringgit ($807) a metric ton on the Malaysia Derivatives Exchange, the lowest close for most-active futures this month.