950804

European veg

oils close

very quietly

LONDON: European vegetable oils closed very quietly due to a lack of directional imput from either the Chicago soybean oil or Malaysian palm oil futures markets, dealers said.

Some concern was still being voiced over the potential weather in the U.S. soybean crop growing regions, but no reports have been seen today pointing to hot conditions returning.

The palm oil sector finished mostly where it stood at midday, $2.50 either side of Thursday's close.

Little trade was seen on the palm oils apart from RBD and olein, which fetched $622.50 and $645 respectively for Oct/Dec.

Crude palm oil was reported to have traded on a switch between Aug and Sep at a $12.50 spread but data on the respective prices was not forthcoming.

Coconut oil had a subdued end to the week after the previous two day's of short-covering just ahead of the closes.

Today's close saw values on cocnut oil unchanged to $5 down. One switch took place between Jul at $737.50 and Sep/Oct at $720.

Soy and rape oil closed 0.25 to one guilder firmer. During the afternoon only soy oil was said to have traded, with 96.25 paid for Aug/Oct.-Reuter