India traders 'washout' soybean oil shipments to lock in price rally gains

India, the largest buyer of vegetable oils in the world, has seen cancellations of around 75,000 metric tons of soybean oil cargoes from Brazil and Argentina after a sharp rally in global prices created profit-taking opportunities for traders, four traders and analysts told Platts, part of S&P Global Energy. Total volumes of soybean oil washouts could reach 100,000-120,000 mt, reflecting activeIndia, the largest buyer of vegetable oils in the world, has seen cancellations of around 75,000 metric tons of soybean oil cargoes from Brazil and Argentina after a sharp rally in global prices created profit-taking opportunities for traders, four traders and analysts told Platts, part of S&P Global Energy. Total volumes of soybean oil washouts could reach 100,000-120,000 mt, reflecting activeRead More