European vegoils- Palm oil mixed ahead industry reports
GDYNIA, November 9 (Refinitiv) - Palm oil on the European vegetable oils market was mixed on Thursday. Firmer Chicago soyoil futures supported palm oil prices, while lower Malaysian palm oil futures on positioning ahead of the fresh MPOB report weighed.
The business was slow as many traders were absent, attending the annual FOSFA trade dinner in Geneva on Thursday.
The USDA data was released too late in the afternoon for European players to react to.
Asking prices for palm oil were between $20 a tonne higher and $20 a tonne lower from Wednesday after Malaysian palm oil futures closed between 9 and 26 ringgit a tonne down.
At 1800 GMT CBOT soyoil futures were between 0.2 and 0.4 cents per pound higher with players waiting for the USDA data.
EU rapeoil was offered between five euros a tonne up and 20 euros a tonne down, tracking dips in European rapeseed futures on the back of lower Chicago soybeans. Firmer CBOT soyoil futures limited losses.
Lauric oils offered between $15 a tonne up and $17.50 a tonne down, with easier palm oil and a stronger dollar weighing on products quoted in that currency. Sellers and buyers showed little interest in coming to business ahead of USDA and MPOB data.