Cash vegetable oil markets were quiet to open the new week. Crude corn oil indications in the Midwest were steady in the low to mid-60s. Canola oil basis in Los Angeles was also unchanged at 19 cents but outright prices declined just about 100 basis points per pound alongside a sell-off in soybean oil futures in Chicago.

Technical selling and profit-taking by funds in the wake of the fall harvest season pressured U.S. bean oil markets. On the CME, October soy oil futures ended at 62.39 cents per pound, down 99 basis points per pound, or 1.6 percent. The most actively traded December contract closed at 60.94 cents per pound, down 112 basis points per pound, or 1.8 percent.

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