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VEGOILS-Palm tracks U.S. soyoil higher

* Ringgit appreciation caps gains - trader

* Palm down 1.5 pct on week so far

By Emily Chow

KUALA LUMPUR, Oct 12 (Reuters) - Malaysian palm oil futures

rose on Friday after two sessions of declines, tracking gains in

soyoil on the U.S. Chicago Board of Trade (CBOT).

The benchmark palm oil contract for December delivery

on the Bursa Malaysia Derivatives Exchange was trading

0.7 percent higher at 2,187 ringgit ($526.73) a tonne at the

midday break.

In the previous session, it had hit an over one-week low of

2,153 ringgit and is down 1.5 percent for the week so far.

Trading volumes stood at 16,598 lots of 25 tonnes each at

noon. (1FCPO-TOT)

"Palm rose on firmer soyoil," said a Kuala Lumpur-based

futures trader, referring to CBOT soyoil.

He added that the appreciation in the ringgit, palm's

traded currency, could limit gains in the edible oil. The

ringgit strengthened against the dollar by 0.1 percent to 4.1520

on Friday.

A stronger ringgit usually makes palm oil more expensive for

holders of foreign currencies.

Another trader said that a positive report from the U.S.

Agriculture Department was supportive for the soy and palm


The U.S. Agriculture Department surprisingly trimmed its

forecasts for both domestic corn and soybean production on

Thursday, with the soy cut stemming from a reduction in acres

while the corn harvest will be lower due to

smaller-than-expected yields.

The Chicago December soybean oil contract edged up

0.3 percent on Thursday, and was also last up 0.3 percent on


In other related oils, the January soybean oil contract on

the Dalian Commodity Exchange fell 0.6 percent while the

Dalian January palm oil contract rose 0.5 percent.

Palm oil prices are affected by movements of other edible

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


Palm, soy and crude oil prices at 0530 GMT

Contract Month Last Change Low High Volume

MY PALM OIL OCT8 2103 +7.00 2103 2108 3

MY PALM OIL NOV8 2138 +10.00 2135 2150 1020

MY PALM OIL DEC8 2187 +16.00 2179 2193 7425

CHINA PALM OLEIN JAN9 4766 +24.00 4720 4788 258202

CHINA SOYOIL JAN9 5880 -34.00 5864 5924 358122

CBOT SOY OIL DEC8 28.73 +0.00 0 0 0

INDIA PALM OIL OCT8 585.30 -0.50 583.70 586.9 136

INDIA SOYOIL OCT8 750.2 +0.90 749.9 750.2 830

NYMEX CRUDE NOV8 71.79 +0.82 70.94 71.90 39671

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 = 4.1520 ringgit)

($1 = 6.8932 Chinese yuan)

($1 = 73.6300 Indian rupees)

(Reporting by Emily Chow; Editing by Vyas Mohan)