ROTTERDAM: The European vegetable oils market continued to ease on Monday following improved weather in the US coupled with slack demand which pressured the CBOT soycomplex.
"The weaker levels caused some bargain hunting on the European cash market but buyers were generally cautious because a gloomy global economic outlook and concerns for renewed growth of still huge palm oil stocks could pressure prices further," one broker said.
At 1630 GMT CBOT soyoil futures were between 0.70 and 0.54 cents per lb down on good planting weather and slow buying. <0#ZL:>
Liquid oils - soyoil, rapeoil and sunoil - were offered between eight and 21 euros per tonne down from Friday following the weaker trend in CBOT soyoil futures and because of a dip in rapeseed futures. <0#COM:>
May/July EU rapeoil changed hands at 849 euros per tonne fob exmill, down six euros from Friday and Aug/Oct traded seven euros down between 845 and 843 euros fob.
Palm oil was quoted between $10 and $15 a tonne down from Friday after Malaysian palm oil futures closed between 31 and 45 ringgit per tonne down on weaker outside markets and disappointing April 1-20 export numbers. <0#FCPO:>
July/Sept RBD palm olein traded $15 down from Friday at between $785 and $777.50 per tonne fob Malaysia and Oct/Dec changed hands between $782.50 and $775, down $17.50.
Crude palm oil fetched $810 and $815 a tonne cif Rotterdam for July/September.
Coconut oil was offered around $10 a tonne down from Friday in sympathy with weaker palm oil after June/July traded at $760 a tonne cif Rotterdam, July/Aug changed hands at $775 and $785 was paid for Aug/Sept.
Palmkernel oil was offered between $5 and $15 a tonne up from Friday, but asking prices were hardly discussed and no buying interest was seen. No deals were reported.
<Center><b><i>Copyright Reuters, 2013</b></i><br></center>*
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