European vegoils- Palm oil dips with futures, stronger ringgit
GDYNIA, November 28 (LSEG) - Palm oil on the European vegetable oils market dipped with futures undermined by a stronger ringgit.
Asking prices for palm oil were between $2.50 and $17.50 a tonne down after Malaysian palm oil futures closed between 13 and 39 ringgit a tonne lower. Worries for smaller exports as a strong ringgit makes palm oil more expensive for foreign buyers also weighed.
At 1700 GMT CBOT soyoil futures were between 0.25 cents per pound down and 0.45 cents up, supported by rallies in CBOT soybean futures on stress over Brazilian soybeans condition and because of small gains in energy markets.
EU rapeoil was offered between 10 and 15 euros a tonne up, following firmer Chicago soyoil and energy prices. Rallies in European rapeseed futures on the back of Chicago soybeans also underpinned prices.
Lauric oils offered between flat and $10 a tonne up on the back of a stronger ringgit.