Palm oil prices on the European vegetable oils market mostly eased on Friday, tracking a dip in Malaysian palm oil futures on forecasts for improved production during March. Asking prices for palm oil were between unchanged and $7.50 a tonne lower after Malaysian futures closed between 13 ringgit and 25 ringgit a tonne down.
CBOT soyaoil futures were between 0.04 and 0.21 cents per lb higher by 1730 GMT, underpinned by strength in Chicago soyabeans on concerns over the size of the Argentine soyabean harvest after a lengthy dry spell. Higher energy markets were also supportive. EU rapeoil was quoted between unchanged and 3 euros a tonne up from Thursday, tracking firmer Chicago soyaoil futures and underpinned by firmer rapeseed futures, which were up on worries over a tighter global oilseed supply outlook.
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