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European vegoils-Palm oil slightly up ahead of export data
calendar20-07-2017 | linkTimes of India | Share This Post:

19/07/2017 (Times of India) - ROTTERDAM, July 19 (Reuters) - Palm oil on the European vegetable oils market was offered mostly firmer on Wednesday ahead of Thursday's Malaysian palm oil exports figures for the first 20 days of July.

 

Asking prices for palm oil were mostly between unchanged and $5 a tonne higher after Malaysian palm oil futures closed between two ringgit per tonne down and 13 up on expectations of stronger cargo surveyor data on Thursday.

 

"Palm oil trade was slow today, although bids and offers were not far apart. It is a tug of war between exports and production, whether stocks will rise or fall at the end of the month," one broker said.

 

At 1600 GMT, CBOT soyoil futures were between 0.18 and 0.32 cents per lb higher on concerns over hot and dry weather in the U.S. Midwest. Stronger energy markets also underpinned soyoil futures.

 

EU rapeoil was mostly quoted between one and five euros per tonne down on technicals and lower rapeseed futures. Both firmer CBOT soyoil and a slightly stronger U.S. dollar, which underpins euro-priced products, limited losses.

 

Coconut oil was offered between unchanged and $25 a tonne higher, tracking firmer palm oil, but buyers were hard to find. Some buyers showed up in palmkernel oil when sellers lowered levels mostly by between $5 and $10 a tonne. Expectations for increased production also weighed. EUROPEAN VEG OILS TRADES

 

PALM OLEIN RBD, dollars a tonne fob Malaysia Aug 644/645 (-2.50) Oct/Dec 610/615 (+2.50) Jan/Mar 618/625 (+2.50)

 

PALMKERNEL OIL Mal/Indo, dollars a tonne cif Rotterdam Aug/Sep 952.50 Oct/Nov 930 (Reporting by Karel Luimes)