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European vegoils-Palm oil prices rise for nearby shipment

European vegoils-Palm oil prices rise for nearby shipment

LONDON: Palm oil prices on the European vegetable oils market were slightly higher on nearby positions on Tuesday, boosted partly by gains in Chicago soybean oil futures.

Sellers raised asking prices for crude palm oil for August and September shipment by up to $5.00 per tonne, also reflecting a higher close on Malaysian palm oil futures.

At 1611 GMT, the most active CBOT soyoil futures contract  was up 1.7 percent at 29.34 cents as the market extended its recent rebound after a prolonged slide during June and the first half of July.

EU rapeoil was offered between five euros per tonne up and two euros down from Tuesday with nearby positions showing strength but deferreds unchanged to slightly weaker.

Lauric oils were lower, weakened by a stronger dollar and a continued lack of buying interest at current levels. EUROPEAN VEG OILS TRADES

RAPEOIL Dutch/EU euro tonne fob exmill Feb/Apr 699/697

CRUDE PALM OIL Sumatra/Malaysia slrs option dlrs tonne Sep 577.50, Jan/Mar 612.50, Apr/Jun 632.50

PALM OLEIN RBD, dollars a tonne fob Malaysia Sep 555 Oct/Dec 575 Jan/Mar 595 Apr/Jun 610 (0)

Copyright Reuters, 2018

Source: Brecorder

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