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EU rapeseed oil asking prices were lower on Monday, weakened by a firm euro and a decline in EU rapeseed futures in quiet conditions with US markets shut for a public holiday. Sellers cut EU rapeseed oil prices by up to 4 euros a tonne, though no trades were reported. Dealers noted that the US Department of Agriculture had raised its forecast for global rapeseed production late on Friday on gains for Ukraine and the United States. The euro climbed to a three-year high against the dollar on Monday, weighing on prices denominated in the currency.
Palm oil prices were little changed as Malaysian futures recovered from an earlier more than two-week low, with traders forecasting falling production in the coming weeks. Exports of Malaysian palm oil products for January 1-15 fell to 564,968 tonnes, down 2.8 percent from the 581,254 tonnes shipped December 1-15, cargo surveyor Societe Generale de Surveillance said on Monday. Palmkernel oil asking prices were trimmed slightly after a sharp rise late last week, while coconut oil offers were between unchanged and $5 a tonne higher.

Copyright Reuters, 2018

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