ROTTERDAM: Palm oil on the European vegetable oils market eased on Thursday following easier Malaysian palm oil futures on expectations for larger November Malaysian palm oil stocks.
Asking prices for palm oil were $2.50 and $15 a tonne lower after Malaysian palm oil futures closed between 21 and 33 ringgit per tonne down, also pressured by weaker soyoil futures.
"We will see the November stocks number on Dec. 12 and everybody is convinced that it will be higher, the only question is by how much," one broker said.
At 1730 GMT, CBOT soyoil futures were between 0.01 and 0.15 cents per lb down on profit taking. Losses were limited by stronger energy markets.
EU rapeoil eased between one and five euros per tonne, tracking lower Chicago soyoil futures and weaker rapeseed futures, which were down with CBOT soybeans and due to expectations of a record 2017 Canadian canola harvest.
Coconut oil was offered between $2.50 a tonne up and $7.50 down from Wednesday, tracking losses in palm oil. Palmkernel oil dropped $20 to $30 a tonne as a weaker ringgit also weighed.
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