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Euro veg oils close lower

LONDON: European vegetable oils closed easier following the trend set by fresh falls on the Chicago soybean oil futures, traders said.

A lower close on the Malaysian palm oil futures earlier on Friday also added to weight to the downward move, they added.

Soy and rape oil finished 1.50 to two guilders lower. Jun soy oil fetched 99 guilders, while rape oil changed hands at 96 and 99/98.50 guilders for May/Jul and Aug/Oct respectively.

The palm oil sector ended $5 to $10 lower, with all business restricted to olein. During the afternoon session Jul/Sep traded at $551.50.

Private forecaster Ivan Wong's forecast for end-March Malaysian palm oil stocks at 680,000 tonnes against 723,910 at end-February had little impact.

Traders were now looking to official confirmation of Malaysian palm oil stocks from PORLA on Monday.

Lauric oils closed unchanged to $5 easier without trading.-Reuter