22/06/2017 (The Times of India) - ROTTERDAM, June 22 (Reuters) - Palm oil on the European vegetable oils market was offered in a tight range on Thursday as support from bargain buying of Malaysian palm oil futures was limited by expectations of growing output and falling demand.

Asking prices for palm oil were between $5 a tonne down and $2.50 up from Wednesday after Malaysian palm oil futures closed between one and 12 ringgit per tonne higher.

"After several days of declining prices it was about time for some bargain hunting," one broker said.

At 1630 GMT, CBOT soyoil futures were between 0.03 cents per lb lower and 0.09 cents higher on technical buying as Chicago traders were selling soymeal futures on decent crop weather in the U.S. Midwest and disappointing weekly U.S. export sales and buying soyoil contracts. A rebound in energy prices also supported soyoil futures.

EU rapeoil was offered between one and three euros lower, tracking weaker rapeseed futures, which followed losses in CBOT soybeans.

Coconut oil dropped several dollars early in the day. Once buyers were found prices rose again to, or even above, initial asking prices. Prices were between $25 a tonne down and $15 up. Palmkernel oil was quoted between $10 a tonne up and $5 down, pressured by lack of demand. EUROPEAN VEG OILS TRADES

PALM OLEIN RBD, dollars a tonne fob Malaysia Oct/Dec 595 (-1) Jan/Mar 606/600 (-5)

CRUDE PALM OIL, Sumatra/Malaysia sellers option dollars a tonne Jul 650 (0) Oct/Dec 622.50

RAPEOIL Dutch/EU, euros a tonne fob exmill Aug/Oct 706 Nov/Jan 708

SUNOIL EU, dollars a tonne extank six ports sellers option Aug/Sep 775 Oct/Dec 780 (Reporting by Karel Luimes; Editing by Elaine Hardcastle)