Palm Oil Ends Near Two-Week High as Dry Weather Hurts Soybeans
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Palm oil ended near the highest level in two weeks as dry weather in parts of Argentina dims the prospect for global supply of the oilseed crushed to make soybean oil and animal feed.
The contract for delivery in May closed at 2,565 ringgit ($829) a metric ton on the Malaysia Derivatives Exchange from 2,566 ringgit yesterday, the highest price at close for the most-active contract since Feb. 4.