ROTTERDAM: Liquid oils on the European vegetable oil market dropped on Monday following a dip in CBOT soycomplex futures on US harvest pressure.
* "The market fell on harvest pressure in the US, which triggered a sell-off by speculators, which also freed money seeing improved possibilities in other markets because of the Fed stimulus plans. Buyers were reluctant, waiting to see how far prices will retreat, but not forgetting to buy on dips. Asian products were quiet due to a lack of participants because of a public holiday in Malaysia," one broker said.
* At 1700 GMT CBOT soyoil futures were between 1.80 and 2.17 cents per lb down up on harvest pressure and talk of better yields for soybeans than expected.
* Liquid oils - soyoil, sunoil and rapeoil - were offered between 17 and 30 euros per tonne down from Friday following the fall in Chicago and sharply lower rapeseed futures, which took their cue from CBOT soybeans.
* Nov/Jan EU rapeoil traded 17 euros per tonne down between 988 and 980 euros per tonne fob exmill, Feb/April changed hands between 985 and 975 euros, down 20 and May/July fetched 980 and 975 euros fob.
* Palm oil was offered between $5 and $15 a tonne down from Friday following the trend in Chicago in thin trade due to the absence of players due to a public holiday in Malaysia and the Malaysian palm oil futures market closed.
* Jan/March RBD palm olein changed hands at $1,000 a tonne fob Malaysia, down $15 from Friday.
* Lauric oils were also hardly discussed due to the absence of players from Malaysia with asking prices barely changed from Friday and no deals were reported.
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