Malaysian Palm Oil Council Russia's Post

European vegoils- Palm edges lower on profit taking in futures

ROTTERDAM, Dec 29 (Refinitiv) - Palm oil on the European vegetable oils market eased on Wednesday following profit taking in Malaysian palm oil futures and because of a weaker tone in rival oils.

Asking prices for palm oil were mostly between $10 and $30 a tonne lower after Malaysian palm oil futures closed between 38 and 133 ringgit per tonne down.
Business overall was slow as most players had closed their books for the year and prices were mostly seen as indicative.

At 1730 GMT, CBOT soyoil futures were between 0.12 cents per pound lower and 0.41 cents up on mild technical selling with South American weather worries supporting prices.

EU rapeoil was offered between five euros per tonne firmer and 20 euros per tonne lower, following easier rapeseed futures.

Lauric oils were mostly quoted between $150 and $215 a tonne lower as a more aggressive seller started offering material. Bids, if any, were some $100 a tonne below seller ideas.
By: via Malaysian Palm Oil Council Russia