VEGOILS-Palm falls tracking weakness rival oils; strength in Dalian oils caps losses

KUALA LUMPUR, Nov 20 (Reuters) - Malaysian palm oil futures fell on Wednesday, tracking weakness in rival Chicago soyoil but the strength in Dalian oils capped losses. The benchmark palm oil contract FCPOc3 for February delivery on the Bursa Malaysia Derivatives Exchange lost 45 ringgit, or 0.91%, to 4,879 ringgit ($1,092.72) a metric ton during early trade. The contract rose 0.51% during the previous session. FUNDAMENTALS * Dalian's most-active soyoil contract DBYcv1 rose 0.1%, while its palm oil contract DCPcv1 added 0.53%. Soyoil prices on the Chicago Board of Trade BOcv1 were down 0.04%. * Palm oil tracks price movements of rival edible oils, as they compete for a share of the global vegetable oils market. * Oil edged up amid an escalation in the Ukraine war and signs of growing Chinese crude imports, while rising U.S. crude stocks checked overall price gains. O/R * Stronger crude oil futures make palm a more attractive option for biodiesel feedstock. * The ringgit MYR= , palm's currency of trade, strengthened 0.13% against the dollar, making the commodity more expensive for buyers holding foreign currencies. * Malaysia raised its December export tax for crude palm oil to 10% and increased its reference price to 4,471.39 ringgit a ton, a circular on the Malaysian Palm Oil Board website showed. * Palm oil may test support at 4,869 ringgit per metric ton, a break below which could open the way towards 4,732 ringgit to 4,816 ringgit range, Reuters technical analyst Wang Tao said. TECH/C MARKET NEWS * Asian shares were cautious, as investors looked ahead to earnings results from AI darling Nvidia where the risk of disappointment is high, while the dollar gave back a little of its recent bumper gains. MKTS/GLOB ($1 = 4.4650 ringgit) <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ cpo https://tmsnrt.rs/3Zpuq3T ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Ashley Tang; Editing by Rashmi Aich) (([email protected];)) ((For a table on Malaysian physical palm oil prices, including refined oil, Reuters Terminal users can double click on or type OILS/MY01 . * To view freight rates from Peninsula Malaysia/Sumatra to China, India, Pakistan and Rotterdam, please key in OILS/ASIA2 and press enter, or double click between the brackets. * Reuters Terminal users can see cash and futures edible oil prices by double clicking on the codes in the brackets: To go to the next page in the same chain, hit F12. To go back, hit F11. Vegetable oils OILS/ASIA1 Malaysian palm oil exports SGSPALM1 CBOT soyoil futures 0#BO: CBOT soybean futures 0#S: Indian solvent SOLVENT01 Dalian Commodity Exchange DC/MENU Dalian soyoil futures 0#DBY: Dalian refined palm oil futures 0#DCP: Zhengzhou rapeseed oil 0#COI: European edible oil prices/trades OILS/E ))