VEGOILS-Palm extends gains to second day; set for second weekly gains

JAKARTA, Dec 6 (Reuters) - Malaysian palm oil futures gained for a second session on Friday tracking stronger soyoil prices in Dalian and Chicago exchanges and were set to gain for the second week. The benchmark palm oil contract FCPOc3 for February delivery on the Bursa Malaysia Derivatives Exchange gained 39 ringgit, or 0.76%, to 5,174 ringgit ($1,169) a metric ton by 0232 GMT. The contract has risen 2.83% so far this week. FUNDAMENTALS * Dalian's most-active soyoil contract DBYcv1 rose 0.58%, while its palm oil contract DCPcv1 slipped 0.04%. Soyoil rose 0.28% 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. * Malaysia's palm oil inventories are expected to have fallen in November for a second consecutive month as torrential rains disrupted production, a Reuters survey showed. * Oil prices slipped in early Asian trade, with weak demand in focus after the OPEC+ group postponed planned supply increases and extended deep output cuts to the end of 2026. O/R * Palm oil FCPOc3 is expected to gain further into the 5,202-5,242 ringgit per metric ton range, driven by a wave 5, Reuters technical analyst Wang Tao said. TECH/C MARKET NEWS * Asian stocks slipped on political ructions in South Korea, while the U.S. dollar bulls waited anxiously to see if U.S. payrolls challenged or cemented expectations of a rate cut this month. MKTS/GLOB DATA/EVENTS (GMT) 0700 Germany Industrial Output MM Oct 0700 Germany Industrial Production YY SA Oct 0700 UK Halifax House Prices MM Nov 0700 UK Halifax House Prices YY Nov 0745 France Reserve Assets Total Nov 1000 EU GDP Revised QQ Q3 1000 EU GDP Revised YY Q3 1330 US Non-Farm Payrolls Nov 1330 US Unemployment Rate Nov 1330 US Average Earnings YY Nov 1500 US U Mich Sentiment Prelim Dec ($1 = 4.4260 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 ))