VEGOILS-Palm tracks stronger Dalian oils, set for weekly gain

KUALA LUMPUR, Nov 29 (Reuters) - Malaysian palm oil futures rose for a fifth consecutive session and were on track for a weekly gain on Friday, tracking stronger performances in rival Dalian oils. The benchmark palm oil contract FCPOc3 for February delivery on the Bursa Malaysia Derivatives Exchange gained 91 ringgit, or 1.86%, to 4,976 ringgit ($1,122.49) a metric ton in early trade. The contract has so far gained 5.23% this week after falling for the past two consecutive weeks. FUNDAMENTALS * Dalian's most-active soyoil contract DBYcv1 rose 1.41%, while its palm oil contract DCPcv1 added 2.14%. The Chicago Board of Trade was closed for the Thanksgiving holiday. * Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market. * Cargo surveyors are expected to release their estimates for Malaysian palm oil exports for the Nov. 1-30 period on Saturday. * Oil prices were mixed following a potential renewal of supply risk as Israel and Hezbollah traded accusations of ceasefire violations, and as a delay to an OPEC+ meeting left investors awaiting a decision on its output policy. O/R * Brent crude futures LCOc1 for January were down 0.1% at $73.21 a barrel, as of 0245 GMT. * The ringgit MYR= , palm's currency of trade, strengthened 0.25% against the dollar, making the commodity more expensive for holders of foreign currencies. * Palm oil may test resistance at 4,917 ringgit per metric ton, a break above could open the way towards 4,985 ringgit, Reuters technical analyst Wang Tao said. TECH/C MARKET NEWS * Asian shares slipped while the yen was aiming for its best week in four months as strong local inflation data had traders favouring an imminent rate hike from the Bank of Japan. MKTS/GLOB DATA/EVENTS 0745 France GDP QQ Final Q3 0745 France CPI (EU Norm) Prelim YY Nov 0745 France CPI (EU Norm) Prelim MM Nov 0745 France CPI Prelim YY NSA Nov 0745 France CPI Prelim MM NSA Nov 0745 France Producer Prices YY Oct 0855 Germany Unemployment Chg SA Nov 0855 Germany Unemployment Rate SA Nov 1000 EU HICP Flash YY Nov 1000 EU HICP-X F,E,A&T Flash YY Nov 1000 EU HICP-X F, E, A, T Flash MM Nov ($1 = 4.4330 ringgit) <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ cpo https://tmsnrt.rs/3Z2Pw6o ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Ashley Tang; Editing by Sherry Jacob-Phillips) (([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 ))