ROTTERDAM: Palm oil prices on the European vegetable oils market eased on Tuesday, following the weaker trend in Malaysian palm oil futures on technical selling and because of positioning ahead of Wednesday's September 1-20 Malaysian palm oil export data.
Offers were made at between unchanged and $15 a tonne down after Malaysian palm oil futures closed between 18 and 49 ringgit down due to a technical correction and traders' expectations that export demand will cool towards the end of the month.
"First-half September palm oil exports were some 22 percent up from August and it is well possible that rise will be smaller at the end of the month," one broker said.
At 1600 GMT CBOT soyoil futures were between 0.04 and 0.13 cents per lb up on technicals as Chicago dealers were selling soymeal futures and buy back soyoil contracts. Lower energy markets capped gains.
EU rapeoil was mostly offered between four and 10 euros per tonne down from Monday, tracking lower rapeseed futures, which took cue from easier Chicago soybean futures. A weaker dollar also weighed on euro-priced products.
Lauric oils were offered between $5 and $35 a tonne lower, following weaker palm oil futures and because of a lack of buying interest.
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