ROTTERDAM: Palm oil on the European vegetable oil market eased substantially on Monday in line with a drop in Malaysian palm oil futures as concerns over growing palm oil stocks causes technical selling.
* "Palm oil eased a lot on the cash markets and caused some buying on the dip, but buyers were still mostly cautious, waiting for the market to bottom out and also holding back to see what happens in the US presidential elections on Tuesday," one broker said.
* Palm oil was offered between $25 and $30 a tonne down from Friday Thursday after Malaysian palm oil futures closed between 70 and 106 ringgit per tonne down on worries that palm oil stocks will grow further in October despite a slightly higher export number.
* Jan/March RBD palm olein changed hands between $822.50 and $830 a tonne fob Malaysia, down $40 from Friday and April/June also traded $40 down between $855 and $840.
* At 1700 GMT CBOT soyoil futures were between 0.27 and 0.53 cents per lb down in a mild sell-off as players square books ahead of the US presidential elections and because of a stronger dollar, which weighs on dollar-priced products.
* Liquid oils - soyoil, rapeoil and sunoil - were offered between five and 10 euros per tonne down from Friday, following CBOT soyoil futures and lower rapeseed futures, which took direction from Chicago soybeans.
* Feb/April EU rapeoil changed hands at 925 euros per tonne fob exmill and May/July traded at 925 and 928 euros fob.
* EU sunoil fetched $1,230 a tonne extank for both Jan/March and April/June.
* Lauric oils were offered $10 to $15 a tonne down in thin trade, following the trend in palm oil with buyers showing little interest and no deals were reported.
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