ROTTERDAM: Palm oil on the European vegetable oils market was stronger on Monday, tracking gains in Malaysian palm oil futures on positioning ahead of Wednesday's MPOB supply/demand and stocks report.
Asking prices for palm oil were between unchanged and $10 a tonne higher after Malaysian palm oil futures closed between 13 and 31 ringgit higher as futures traders anticipate better exports ahead of data due later this week.
"As usual ahead of fresh market data cash market players start to hold back and there was little activity," one broker said.
At 1730 GMT, CBOT soyoil futures were between 0.27 and 0.41 cents per lb lower, following the weaker trend in Chicago soybeans on technical selling ahead of USDA supply/demand and crop reports, due on Friday.
EU rapeoil was quoted between two and three euros per tonne lower, following the weaker trend in Chicago soyoil futures and due to easier rapeseed futures, which tracked lower CBOT soybeans.
Lauric oils were mostly offered between $5 and $10 a tonne up from Friday, following stronger palm oil. A firmer dollar, which weighs on products quoted in that currency, limited gains. EUROPEAN VEG OILS TRADES
PALM OLEIN RBD, dollars a tonne fob Malaysia Mar 665 (-10) Jul/Sep 655 (-4)
CRUDE PALM OIL, Sumatra/Malaysia sellers option dollars a tonne Oct/Dec 685
RAPEOIL Dutch/EU, euros a tonne fob exmill Feb 720
SUNOIL EU, dollars a tonne extank six ports sellers option Mar 780
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