Palm oil eased on Thursday, following weaker Malaysian palm oil futures and sharply lower soyaoil futures. Asking prices for palm oil were between $12.50 and $22.50 a tonne down from Wednesday, after Malaysian futures closed between 18 and 41 ringgit per tonne lower.
"Most products came down as bearish sentiment gains momentum," one broker said. At 1730 GMT CBOT soyaoil futures were between 0.15 and 0.51 cents per lb lower because of improved weather in the Argentine soyabean belt.
Soyaoil futures also fell on news that the US Environmental Protection Agency would delay 30 regulations, including implementation of 2017 biofuels requirements announced in November. Soyaoil is the primary US feedstock for biodiesel fuel.
EU rapeoil was quoted between two and nine euros per tonne down from Wednesday, following the weaker trend in soyaoil.