European vegoils- Palm oil down on weaker soy oil
GDYNIA, August 22 (Refinitiv) - Palm oil on the European vegetable oils market eased on Tuesday following dips in Malaysian palm oil futures on the back of a weaker rival soy oil.
Asking prices for palm oil were between unchanged and $25 a tonne lower from Monday after Malaysian plam oil futures closed between 40 and 70 ringgit a tonne down due to a technical selling.
At 1700 GMT, CBOT soyoil futures were between 0.85 and 1.46 cents per pound down on technical selling. The pressure came from lower crude oil futures on concers about Chinese demand.
EU rapeoil was quoted between 10 and 17 euros a tonne lower from Monday, tracking lower European rapeseed futures and rival oils.
Lauric oils were offered between flat and from $5 to $30 a tonne down, tracking lower palm oil prices.