VEGOILS-Palm rises on bargain buying, stronger Dalian oils

(Updates closing prices) KUALA LUMPUR, Nov 28 (Reuters) - Malaysian palm oil futures rose for a fourth straight session on Thursday, buoyed by stronger rival Dalian oils and bargain buying. The benchmark palm oil contract FCPOc3 for February delivery on the Bursa Malaysia Derivatives Exchange rose 86 ringgit, or 1.79%, to 4,884 ringgit ($1,099.01) a metric ton at the close. Crude palm oil futures were seen recovering, after opening lower, on bargain buying as tightness in palm oil supply persists, said Anilkumar Bagani, research head at Sunvin Group. Separately, a Kuala Lumpur-based trader said the overnight selloff in Chicago soyoil had a spillover effect on crude palm oil futures this morning, but the uptick in rival Dalian oils prevented prices from falling further. Dalian's most-active soyoil contract DBYcv1 rose 0.1%, while its palm oil contract DCPcv1 added 1.56%. The Chicago Board of Trade was closed for the Thanksgiving holiday. Palm oil tracks the price movements of rival edible oils as it competes for a share of the global vegetable oils market. Oil prices were flat on Thursday after a surprise jump in U.S. gasoline inventories and postponement of the OPEC+ meeting on output policy to Dec. 5 from Dec. 1. O/R Stronger crude oil futures make palm a more attractive option for biodiesel feedstock. The ringgit MYR= , palm's currency of trade, weakened 0.09% against the U.S. dollar, making the commodity cheaper for buyers holding foreign currencies. ($1 = 4.4440 ringgit) <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ cpo https://tmsnrt.rs/4eQyu1a ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Ashley Tang; Editing by Rashmi Aich, Sumana Nandy and Sonia Cheema) (([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 ))