European vegoils: rapeoil prices fall slightly

Asking prices for rapeoil on the European vegetable oils market dropped slightly on Monday, pressured by renewed weakness in energy markets. "It was a slow Monday with tropical oils uneventful due to a Malaysian public holiday. Otherwise the only lead was energy," one broker said. CBOT soyaoil futures were down by between 0.19 cents and 0.36 cents per lb at 1730 GMT on technical selling and spillover weakness from energy markets.
EU rapeoil was offered between unchanged and 2 euros a tonne down from Friday, pressured by energy and weakness in both Chicago soyaoil futures and European rapeseed futures. Crude palm oil was offered between flat and $2.50 a tonne down in very thin trade because of the Malaysian public holiday. Palm oil products were not quoted at all because of the lack of participation from Asian players. Lauric oils were also slow, with asking prices between $2.50 and $7.50 a tonne lower, following the trend in other vegetable oils.