ROTTERDAM: The European vegetable oils market eased further on Thursday in sympathy with CBOT soyoil on follow-through technical selling in soybean futures and talk about lessening Chinese export demand for US soybeans.
"The continuing weakness in most products discouraged many buyers on the European cash market from entering, leaving a lackluster picture as they are waiting for the market to hit a solid bottom," one broker said.
At 1730 GMT CBOT soyoil futures were between 0.39 and 0.48 cents per lb down following soybean futures due to technical selling and export demand worries. <0#ZL:>
Liquid oils - soyoil, rapeoil and sunoil - were offered between one and eight euros per tonne down from Wednesday in sympathy with the easier trend in CBOT soyoil futures and further weakness in rapeseed futures, which continued to take cue from Chicago soybeans. <0#COM:>
May/July EU rapeoil traded three euros per tonne up from Wednesday at 881 and 885 euros per tonne fob exmill and Aug/Oct changed hands at 865 euros, down five euros.
Palm oil was offered between $5 and $15 a tonne down from Wednesday, ending a little off the day's lows because of a dip in the dollar after Malaysian palm oil futures closed between 24 and 47 ringgit a tonne down in sympathy with weakness in rival CBOT soyoil, with players eyeing Friday's March 1-15 export numbers.
July/Sept RBD palm olein traded $5 down from Wednesday at between $802.50 and $792.50 a tonne fob Malaysia.
Lauric oils remained hardly discussed with asking prices $10 to $20 a tonne down from Wednesday in line with palm oil. Buyers showed little interest at the current levels and no deals were reported.
<Center><b><i>Copyright Reuters, 2013</b></i><br></center>
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