LONDON: Palm oil prices held steady on Europe's vegetable oils market on Wednesday, underpinned by gains made in CBOT soybean oil prices on concerns that dry weather forecast for the US Midwest could curtail soybean yields.
Dealers said the rise in Chicago helped to offset renewed weakness in Malaysian palm oil futures.
Crude palm oil asking prices ranged from $2.50 a tonne higher to $2.50 lower, cif Rotterdam, in quiet conditions with no trades reported.
The most active CBOT soyoil contract had risen 0.7 percent to 35.69 cents per lb by 1608 GMT.
Palmkernel asking prices edged higher but failed to stir any buying interest while coconut oil offers were little changed.
EU rapeseed oil prices were slightly lower on Wednesday, weighed on partly by a stronger euro against the dollar.
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