ROTTERDAM: The European vegetable oils markets were mostly narrowly mixed on Wednesday as forecasts for wetter weather in South America outweighed earlier bullish sentiment pinned to talk of drought during the last couple of days.
* "Malaysian palm oil futures were firmer on worries over tight oilseed and grain supplies due to drought, but now the weather forecasts seem to have changed and we saw serious profit taking in Chicago, and the European cash market followed," one broker said.
* At 1730 GMT CBOT soyoil futures were between 0.17 and 0.32 cents per lb down on calls for more beneficial weather in South America.
* EU rapeoil was offered between one euro per tonne up from Tuesday and five euros down, mostly following the trend in Chicago and ending off the day's highs, with rapeseed futures also mixed. EU soyoil was offered 13 euros up, but asking prices were hardly tested.
* May/July EU rapeoil traded two euros down from Tuesday at 918 euros per tonne fob exmill, Aug/Oct changed hands at 903 euros, down three euros.
* Palm oil was offered between $2.50 a tonne up and $5 down from Tuesday after Malaysian palm oil futures closed between two ringgit down and 38 ringgit up on speculative buying because of hopes that dry weather in South America could cut global oilseed supplies and boost demand for palm oil.
* April/June RBD palm olein traded $2.50 up from Tuesday between $845 and $855 a tonne fob Malaysia, July/Sept changed hands between $857.50 and $862.50, up $5 and Oct/Dec fetched $872.50 fob.
* Lauric oils were offered between unchanged and $10 a tonne up from Tuesday as sellers were seeking buying interest, which lead to a deal in coconut oil at $800 a tonne cif Rotterdam for Jan/Feb. No trades were reported in palmkernel oil.
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