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Trading of domestic commodities was heated yesterday, which was the first trading day after the Spring Festival. The DCE was greeted with a trading volume of 1.3379 million contracts amid the still festive air. Palm oil and soybean oil led the exceptional performance of oilseed market, and trading was extraordinarily active. Palm oil's turnover value, volume and open interest reached new highs since it was launched, peaking at 46,300 contracts, and turnover was 4.766 billion yuan. At the end of the day, open interest stood at 34,494. The 0809 soybean oil contract's volume and turnover reached records for a single-month contract since it was launched.
Analysts believed global high prices of crude oil, soybeans, and strengthening prices of soybean oil helped domestic oilseed market trend higher, boosting prices of soybean oil.
