European vegoils Palm oil down despite futures, weak export
GDYNIA, June 27 (LSEG) - Palm oil in the European vegetable oils market eased on Thursday tracking CBOT soyoil futures down and because of disappointing exports from Malaysia, which offset firmer palm oil futures.
Asking prices for palm oil were between $10 per tonne up and $17.50 down, while Malaysian palm oil futures closed between 21 ringgit a tonne lower and 54 higher. The support came from falling production in Malaysia and stronger energy markets today, while exports fell by 16% in June and capped gains. Concerns about demand after India's decision to grant concession for vegetable oil imports.
CBOT soyoil futures were between 0.45 cents per pound up and 0.67 cent down at 1700 GMT on positioning ahead of the USDA acreage and stocks data due on Friday. The impact of flooding and heat in soybean growing belt in the U.S weighed, while firm energy markets limited losses. Open
Asking prices for the EU rapeoil continued to rise on Thursday following firm European rapeseed futures and because of stronger energy markets. July shipment was offered unchanged and August shipment was offered as much as 31 euros a tonne up technically. More distant periods were between five and 20 euros a tonne higher. #COM:
Coconut oil was offered unchanged from Wednesday, while palmkernel oil was offered in a tight range, between $5 a tonne down and $5 up on palm oil futures. Lack of demand weighed.
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28 июня 2024