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VEGOILS-Palm hits 1-week low tracking global sell-off in stocks

* Palm drops hits 1-week low of 2,153 rgt/T

* May fall into 2,162-2,171 rgt/T range - technicals

(Updates with closing prices)

By Emily Chow

KUALA LUMPUR, Oct 11 (Reuters) - Malaysian palm oil futures

closed 1 percent lower on Thursday, after touching its lowest

level in more than a week, tracking losses in global stocks and

commodities markets.

European stocks slumped to a more than 18-month low on

Thursday after Wall Street's worst loss in eight months

triggered a sell-off in global shares.

Oil prices also fell to two-week lows as global stock

markets fell, with investor sentiment taking a further hit after

an industry report showed U.S. crude inventories rose more than


Palm oil prices are impacted by crude oil's movement, as the

edible oil is used as feedstock to make biodiesel.

The benchmark palm oil contract for December delivery

on the Bursa Malaysia Derivatives Exchange ended 1.1

percent lower at 2,170 ringgit ($521.89) a tonne.

It earlier fell to 2,153 ringgit, its weakest level since

October 2.

Trading volumes stood at 32,903 lots of 25 tonnes each at

the end of the trading day. (1FCPO-TOT)

"Palm is tracking the global sell-off in stock markets and

weakness in crude oil prices," said a Kuala Lumpur-based futures


In other related oils, the Chicago December soybean oil

contract edged down 0.6 percent while the January soybean

oil contract on the Dalian Commodity Exchange fell 1.7


The Dalian January palm oil contract declined 1.7


Palm oil prices are affected by movements of other edible

oils as they compete for a share in the global vegetable oils


Palm oil may fall more into a range of 2,162-2,171 ringgit

per tonne, as suggested by a projection analysis, said Reuters

market analyst for commodities and energy technicals, Wang Tao.

Palm, soy and crude oil prices at 1030 GMT

Contract Month Last Change Low High Volume

MY PALM OIL OCT8 2091 -27.00 2090 2097 52

MY PALM OIL NOV8 2128 -22.00 2111 2133 1780

MY PALM OIL DEC8 2170 -23.00 2153 2177 13736

CHINA PALM OLEIN JAN9 4718 -82.00 4682 4800 342478

CHINA SOYOIL JAN9 5874 -100.00 5836 5986 562528

CBOT SOY OIL DEC8 28.65 +0.00 0 0 0

INDIA PALM OIL OCT8 583.10 -5.10 582.50 585.6 383

INDIA SOYOIL OCT8 748 -0.95 747.4 749.25 4160

NYMEX CRUDE NOV8 71.94 -1.23 71.63 72.76 167546

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 = 4.1580 ringgit)

($1 = 6.9223 Chinese yuan)

($1 = 74.1250 Indian rupees)

(Reporting by Emily Chow; Editing by Vyas Mohan)