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

JAKARTA, Dec 2 (Reuters) - Malaysian palm oil futures fell on Monday, snapping five consecutive sessions of gain, dragged down by weakness in Dalian and Chicago soyoil prices. The benchmark palm oil contract FCPOc3 for February delivery on the Bursa Malaysia Derivatives Exchange lost 32 ringgit, or 0.64%, to 4,988 ringgit ($1,119.39) a metric ton by 0240 GMT. The contract rose 6.9% in November, a fourth monthly gain. FUNDAMENTALS * Dalian's most-active soyoil contract DBYcv1 shed 0.44%, while its palm oil contract DCPcv1 climbed 1.29%. Soyoil at the Chicago Board of Trade slipped 0.67% as trading resumed after the Thanksgiving holiday. * Palm oil tracks 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 seen falling 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. * Oil prices edged up, supported by upbeat factory activity in the world's second largest oil consumer China and as Israel resumed attacks on Lebanon despite a ceasefire agreement, stoking tensions in the Middle East. O/R * Palm oil FCPOc3 may test resistance at 5,070 ringgit per metric ton, a break above which could open the way towards the 5,128-5,206 ringgit range, Reuters technical analyst Wang Tao said. TECH/C DATA/EVENTS (GMT) 0030 Japan JibunBK Mfg PMI Final SA Nov 0145 China Caixin Mfg PMI Final Nov 0700 UK Nationwide House Price MM Nov 0700 UK Nationwide House Price YY Nov 0850 France HCOB Manufacturing PMI Nov 0855 Germany HCOB Mfg PMI Nov 0900 EU HCOB Mfg Final PMI Nov 0930 UK S&P Global Manufacturing PMI Nov 1000 EU Unemployment Rate Oct 0445 US S&P Global Mfg PMI Final Nov 1500 US ISM Manufacturing PMI Nov ($1 = 4.4560 ringgit) <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ cpo https://tmsnrt.rs/3Z2Pw6o ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Bernadette Christina; Editing by Sumana Nandy) (([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 ))