European vegoils-Palm oil little changed as currencies offset stronger futures

By Kitco News / September 03, 2018 / www.kitco.com / Article Link

ROTTERDAM, Sept 3 (Reuters) - Palm oil was offered in atight range on the European vegetable oils market on Monday asslightly firmer Malaysian palm oil futures were offset by astronger dollar and weaker ringgit. Asking prices for palm oil were mostly between unchanged and$2.50 a tonne down as the strong dollar and weaker ringgit bothweighed on prices quoted in dollars.The weak ringgit supported Malaysian palm oil futuresbecause it makes palm oil cheaper for foreign buyers, whichboosts export hopes. Slightly improved exports during Augustalso underpinned futures.There was no direction from CBOT markets because of theLabor Day holiday in the United States.EU rapeoil was quoted between 2 euros and 3 euros a tonne upfrom Friday, supported by the stronger dollar, which underpinseuro-priced products.


Lauric oils were offered between unchanged and $5 a tonnehigher, with buyers and sellers in short supply.
EUROPEAN VEGOILS TRADES


PALM OLEIN RBD, dollars a tonne fob MalaysiaJan/Mar 595 Apr/Jun 605CRUDE PALM OIL, Sumatra/Malaysia sellers option dollars atonne
Apr/Jun 620 (Reporting by Karel LuimesEditing by David Goodman)

Messaging: karel.luimes.thomsonreuters.com@reuters.net))

Euro prices/trades or to CBOT soyoil futures CBOT soybean futures BMD palm oil futures Olive oil futures RELATED NEWS AND OTHER TOPICSAll oils/seeds news Grain/oilseed/cotton news All commodities news Grains diary Weather news Foreign exchange rates SPEED GUIDES)) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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