European vegoils- Palm oil up with rival oils, strong exports data
GDYNIA, August 21 (Refinitiv) - Palm oil on the European vegetable oils market rose on Monday, following firmer Malaysian palm oil futures on the back of stronger rival oils.
Asking prices for palm oil were between flat and $22.50 a tonne higher from Friday after Malaysian plam oil futures closed between 60 and 95 ringgit a tonne up. Prices were underpinned also by strong Malysian exports data during August 1-20.
At 1700 GMT, CBOT soyoil futures were between 0.17 and 0.65 cents per pound higher following rallies in CBOT soybean futures, as hot and dry weather threatened soybean crop in the U.S.
EU rapeoil was quoted 10 euros a tonne lower tracking lower European rapeseed futures on technicals, while firmer rival oils limited losses.
Lauric oils were offered between flat and $20 a tonne up, tracking stronger palm oil.