VEGOILS-Palm rises tracking Dalian palm, soyoil weakness limits gain

JAKARTA, Dec 3 (Reuters) - Malaysian palm oil futures rose on Tuesday, tracking strength in Dalian palm oil contract, but weakness in Dalian and Chicago soyoil prices and lower export in November capped gains. The benchmark palm oil contract FCPOc3 for February delivery on the Bursa Malaysia Derivatives Exchange gained 16 ringgit, or 0.32%, to 4,971 ringgit ($1,112.08)a metric ton by 0232 GMT. FUNDAMENTALS * Dalian's most-active soyoil contract DBYcv1 shed 1.25%, while its palm oil contract DCPcv1 climbed 0.1%. Soyoil slipped 0.19% at the Chicago Board of Trade. * 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 inched down amid mixed market signals on Tuesday, with traders awaiting the outcome of an OPEC+ meeting this week. O/R * Palm oil FCPOc3 is expected to retest 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 ($1 = 4.4700 ringgit) <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ cpo https://tmsnrt.rs/3Z2Pw6o ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Bernadette Christina; 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 ))