Palm oil on the European vegetable oils market was offered slightly lower on Friday on the last trading day of the year. In slow trade palm oil was offered between unchanged and $7.50 a tonne down, tracking overnight weakness in rival soyoil. Malaysian palm oil futures closed between 3 ringgit and 23 ringgit a tonne up on positioning ahead of the New Year.
"It was not much of a market, with many operators absent, taking time off between Christmas and the New Year. Many of those who were around left about lunchtime," one broker said.
CBOT soyoil futures were between 0.06 cents per lb down and 0.07 cents up at 1730 GMT on position squaring in choppy trade. Slightly easier energy markets also weighed.
EU rapeoil was offered between 3 euros and 5 euros a tonne down from Thursday, following weaker CBOT soyoil and pressured by a weaker dollar, which weighs on euro-priced products.
Comments
Comments are closed.