EU rapeseed oil prices were sharply lower on Thursday, erasing some of this month's strong gains, tracking weakness in CBOT soyabean oil. Sellers cut asking prices for EU rapeoil by 5 to 11 euros a tonne, with Nov/Jan now offered at 734 euros, still 43 euros above end-July levels. The decline mirrored a sharp setback in CBOT soyabeans and soyabean oil linked to an improving outlook for the US crop.
The most active CBOT soyabean oil contract was off 2.1 percent at 33.29 cents a lb at 1604 GMT.
Palm oil prices in Europe were also mostly lower.
RBD palm olein offers were $7.50 to $12.50 a tonne lower with January/March shipment last traded at $645 a tonne, down $12.50 from last business on Wednesday.
Malaysian palm oil futures recorded their first session of declines in three on Thursday, weighed down by weaker related vegetable oils, despite strong cargo surveyor export data for August.
Exports of Malaysian palm oil products for August 1-25 rose 31.1 percent to 1,317,234 tonnes, up from 1,004,802tonnes in the corresponding period in July, cargo surveyor Intertek Testing Services said on Thursday.
Palmkernel oil offers were cut by $10 to $25 a tonne while coconut oil asking prices were little changed.
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