* Market falls to 3-week low at 2,247 rgt/T
* Buyers waiting for price trend projection - trader
* Palm may hover around support at 2,264 rgt/T -technicals
(Updates with closing prices)
By Emily Chow
KUALA LUMPUR, Feb 12 (Reuters) - Malaysian palm oil futures
slipped on Tuesday, posting a third day of declines amid slowing
The benchmark palm oil contract for April delivery
on the Bursa Malaysia Derivatives Exchange fell 0.5 percent to
2,254 ringgit ($552.86) a tonne at the close of trade. It had
fallen to a three-week low of 2,247 ringgit earlier in the day
after hitting a seven-month high last week.
Trading volumes stood at 31,884 lots of 25 tonnes each at
the end of the trading day. (1FCPO-TOT)
"The market had earlier gone up as India had been buying,
but since buyers have bought already, they will stop for a bit
in February. They also want to see the price projection of the
market at a March industry conference, so the market is coming
off a bit," said a Kuala Lumpur-based futures trader.
"U.S. soybean oil also fell, so palm needs to adjust a bit
to that," the trader added, referring to overnight declines in
soyoil on the Chicago Board of Trade.
Exports of Malaysian palm oil products during Feb. 1-10 fell
11.2-15.8 percent from Jan. 1-10, according to cargo surveyors
AmSpec Agri Malaysia, Intertek Testing Services and Societe
Generale de Surveillance.
In other related oils, the Chicago March soybean oil
contract fell 2 percent on Monday, as concerns over
improving crop weather in South America and worries about a
looming March 1 deadline for a U.S.-China trade agreement
Soyoil was last down 0.1 percent on Tuesday.
The May contract on the Dalian Commodity Exchange
fell 0.8 percent, while the Dalian January palm oil contract
declined 0.4 percent.
Palm oil prices are affected by movements in soyoil rates,
as they compete for a share in the global vegetable oil market.
Palm oil may temporarily hover around a support at 2,264
ringgit per tonne, or bounce towards a resistance at 2,294
ringgit before falling again, said Wang Tao, a Reuters market
analyst for commodities and energy technicals.
Palm, soy and crude oil prices at 1043 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB9 2190 -14.00 2190 2197 43
MY PALM OIL MAR9 2214 -14.00 2207 2229 2894
MY PALM OIL APR9 2255 -12.00 2247 2268 12460
CHINA PALM OLEIN MAY9 4764 -20.00 4716 4780 282300
CHINA SOYOIL MAY9 5708 -44.00 5684 5758 333206
CBOT SOY OIL MAR9 30.22 -0.02 30.17 30.32 10875
INDIA PALM OIL FEB9 560.00 -3.80 558.00 563.5 882
INDIA SOYOIL FEB9 771 -2.55 769.5 776 3350
NYMEX CRUDE MAR9 53.01 +0.60 52.29 53.07 114679
Palm oil prices in Malaysian ringgit per tonne
CBOT soy oil in U.S. cents per pound
Dalian soy oil and RBD palm olein in Chinese yuan per tonne
India soy oil in Indian rupee per 10 kg
Crude in U.S. dollars per barrel
($1 = 4.0770 ringgit)
($1 = 70.7600 Indian rupees)
($1 = 6.7726 Chinese yuan)
(Reporting by Emily Chow; Editing by Shreejay Sinha and David