VEGOILS-Palm snaps five-day rally, dragged down by weak soyoil

(Update prices, add analyst comments) JAKARTA, Dec 2 (Reuters) - Malaysian palm oil futures fell on Monday, snapping a run of five consecutive sessions of gain, dragged down by weakness in Dalian and Chicago soyoil prices and lower exports in November. The benchmark palm oil contract FCPOc3 for February delivery on the Bursa Malaysia Derivatives Exchange lost 30 ringgit, or 0.6%, to 4,990 ringgit ($1,119.39) a metric ton by midday. The contract rose 6.9% in November, logging its fourth monthly gain. "Today's crude palm oil futures are having a profit-taking run after the recent rally on the back of softer Dalian, Chicago soyoil and lower export figures for the month of November," a Kuala Lumpur-based trader said. Dalian's most-active soyoil contract DBYcv1 shed 0.64%, while its palm oil contract DCPcv1 climbed 1.29%. Soyoil at the Chicago Board of Trade dropped 1.15% as trading resumed after 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. Malaysian palm oil exports in November are estimated to have fallen between 9.3% and 10.4%, according to cargo surveyor Intertek Testing Services and independent inspection company AmSpec Agri Malaysia. Indonesia raised its crude palm oil (CPO) reference price for December to $1,071.67 a metric ton from $961.97 in November, placing the export tax higher at $178 per ton. Palm oil prices may test resistance at 5,070 ringgit, a break above which could open the way towards the 5,128-5,206 ringgit range, Reuters technical analyst Wang Tao said. TECH/C <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ cpo https://tmsnrt.rs/3Z2Pw6o ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Bernadette Christina; Editing by Sumana Nandy and Savio D'Souza) (([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 ))