European vegoils: palm oil eases

Palm oil on the European vegetable oils market continued to ease on Thursday on follow-through technical selling ahead of the long Easter weekend. Markets will be closed on Good Friday and Easter Monday. Trade resumes on Tuesday March 29. "There was a bit dog-chasing-its-tail with Malaysian palm oil futures following a lower Chicago, which in its turn tracked weaker palm oil the day before," one broker said. Palm oil was mostly offered between $5 and $12.50 a tonne lower after Malaysian palm oil futures closed between four and 28 ringgit per tonne down, tracking falls in competing overseas oils and as fresh rains reduced concerns over slowing output.