Palm oil on the European vegetable oils market eased on Thursday in slow trade ahead of the long Easter weekend as lower Malaysian palm oil futures weighed. Markets are closed on Friday and Monday, and resume trading on Tuesday, April 3. Asking prices for palm oil were between $2.50 and $7.50 a tonne down from Wednesday after Malaysian palm oil futures closed between 12 and 20 ringgit lower, tracking related oils on the CBOT and the Dalian Commodity Exchange. Talk of improving production also pressured futures.
At 1600 GMT, CBOT soyaoil futures were between 0.02 and 0.05 cents per lb lower on positioning ahead of USDA planting intentions and quarterly stocks reports. Firmer energy markets capped losses. EU rapeoil was mostly quoted between flat and two euros per tonne lower, tracking easier Chicago soyaoil futures and technical weakness in rapeseed futures. Lauric oils were offered between unchanged and $5 a tonne lower, tracking lower palm oil and because of slow demand.
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