Palm oil edges lower in thin trade

10 Sep, 2018

Asking prices for palm oil were mostly between unchanged and $5 a tonne lower on positioning head of Wednesday's MPOB monthly supply/demand and stocks reports for August, which are expected to be bearish.

CBOT soyoil futures were between 0.03 cents per lb down and 0.05 cents up at 1630 GMT. Technical selling pressured prices but was mostly offset by strength in Chicago soybeans on the back of technical buying.

EU rapeoil was quoted between 1 euro and 7 euros a tonne up from Friday, lifted by technical strength in rapeseed futures and worries over tight supplies after a hot and dry summer.

Lauric oils were mostly offered between unchanged and $10 a tonne higher, with few sellers around because of the national holidays in Malaysia.

Copyright Reuters, 2018

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