ROTTERDAM: Asking prices for most products on the European vegetable oils market eased on Thursday in sympathy with weaker futures markets and because of a dip in the euro.
"Business was still slow as both sides of the market were re-orientating after the holiday season," one broker said.
At 1700 GMT CBOT soyoil futures were between 0.21 and 0.29 cents per lb down in sympathy with soybean futures on prospects for large South American soybean crops due to mostly favorable crop weather.
Liquid oils - soyoil, rapeoil and sunoil - were offered between unchanged and five euros per tonne down from Tuesday following Chicago soyoil and easier rapeseed futures, but losses were limited because a stronger dollar underpinned euro-priced products.
Feb/April EU rapeoil changed hands at 719 euros per tonne fob exmill.
Palm oil was offered between $2.50 and $7.50 a tonne down from Tuesday after Malaysian palm oil futures closed between three and 18 ringgit per tonne lower as players took profits after the market hit a three-week high. Renewed concerns over demand and thin trading at the start of the new year also weighed on futures. <0#FCPO:>
Early in the session April/June RBD palm olein changed hands at $825 and $827.50 a tonne fob Malaysia, up $7.50 from Tuesday, and Oct/Dec fetched $807.50 and $810 fob.
Lauric oils were hardly quoted between unchanged and $15 a tonne down from Tuesday, following the trend in palm oil, while the stronger dollar also weighed on dollar-priced products. Bids were scarce and no deals were reported.
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