MARKET DEVELOPMENT
European Vegoils-Global Rally Sparks Broad Gains
European Vegoils-Global Rally Sparks Broad Gains
19/06/2014 (Reuters) - The European vegetable oils market saw broad gains on Wednesday, buoyed by a near three-week high for Malaysian palm oil futures and strength across the global edible oils complex.
* Crude palm oil was offered between $10 and $17.50 a tonne up from Tuesday, after Malaysian palm oil futures rose for a fifth day.
* Palm and other vegetable oils used in biodiesel were supported by rising crude oil prices on unrest in Iraq.
* The vegetable oils complex was also boosted by firm U.S. soyoil prices <0#ZL:> as the soybean market bounced after a recent slide.
* Liquid oils - EU rapeoil, soyoil and sunoil- were also mostly higher on the European market, offered from flat to 12 euros a tonne higher from Tuesday.
EUROPEAN VEG OILS TRADES CIF Rotterdam unless otherwise stated (between brackets change from the day before if any available) - - - - - - - - - - - - - - - - - - - - - - June 18, 2014 - 1600 GMT
PALM OLEIN RBD, dollars a tonne fob Malaysia Jul 795 Aug/Sep 785 Oct/Dec 780/785/787.50 Jan/Mar 787.50/790/792.50
CRUDE PALM OIL Sumatra/Malaysia sellers option, dollars a tonne cif R'dam Oct/Dec 855 Jan/March 860
RAPEOIL Dutch/EU, euros a tonne fob exmill Feb/Apr 691
* Crude palm oil was offered between $10 and $17.50 a tonne up from Tuesday, after Malaysian palm oil futures rose for a fifth day.
* Palm and other vegetable oils used in biodiesel were supported by rising crude oil prices on unrest in Iraq.
* The vegetable oils complex was also boosted by firm U.S. soyoil prices <0#ZL:> as the soybean market bounced after a recent slide.
* Liquid oils - EU rapeoil, soyoil and sunoil- were also mostly higher on the European market, offered from flat to 12 euros a tonne higher from Tuesday.
EUROPEAN VEG OILS TRADES CIF Rotterdam unless otherwise stated (between brackets change from the day before if any available) - - - - - - - - - - - - - - - - - - - - - - June 18, 2014 - 1600 GMT
PALM OLEIN RBD, dollars a tonne fob Malaysia Jul 795 Aug/Sep 785 Oct/Dec 780/785/787.50 Jan/Mar 787.50/790/792.50
CRUDE PALM OIL Sumatra/Malaysia sellers option, dollars a tonne cif R'dam Oct/Dec 855 Jan/March 860
RAPEOIL Dutch/EU, euros a tonne fob exmill Feb/Apr 691