European vegoils: palm oil slightly rises on strong ringgit

Palm oil on the European vegetable oils market rose slightly on Wednesday on the back of a firm ringgit but trade was quiet and lacked direction because of a public holiday in Malaysia. Crude palm oil was offered between unchanged and $10 a tonne higher, while no quotes were seen for refined products due to the lack of participation by Malaysian players.
"The market was overall pretty calm as there were few leads to work with," one broker said. At 1630 GMT CBOT soyaoil futures were between 0.17 and 0.27 cents per lb firmer on worries about severe weather in parts of the US Midwest. Weaker energy markets limited gains. EU rapeoil was offered mostly between flat and three euros per tonne lower, tracking weaker rapeseed futures, which eased on an improved world supply outlook and the easier tone in energy markets. Lauric oils hardly changed due to Malaysia's public holiday.