VEGOILS-Palm falls on weakness of rival Dalian oils

KUALA LUMPUR, Dec 17 (Reuters) - Malaysian palm oil futures opened lower for a third straight session on Tuesday, tracking weakness in rival Dalian oils. The benchmark palm oil contract FCPOc3 for March delivery on the Bursa Malaysia Derivatives Exchange slid 12 ringgit, or 0.25%, to 4,746 ringgit ($1,067.96) a metric ton in early trade. FUNDAMENTALS * Dalian's most-active soyoil contract DBYcv1 fell 0.23%, while its palm oil contract DCPcv1 shed 1.05%. Soyoil prices on the Chicago Board of Trade BOcv1 were up 0.07%. * Palm oil tracks price movements of rival edible oils, as they compete for a share in the global vegetable oils market. * The ringgit MYR= , palm's currency of trade, strengthened 0.13% against the dollar, making the commodity more expensive for buyers holding foreign currencies. * Oil prices were range-bound in early Asian trading as investors worried about Chinese demand and awaited further market direction from a U.S. interest rate decision due on Wednesday. O/R * Palm oil may break support at 4,701 ringgit per metric ton and fall towards 4,626 ringgit, Reuters technical analyst Wang Tao said. TECH/C MARKET NEWS * Asian stocks edged higher and the dollar held firm on Tuesday as traders braced for a slate of central bank meetings this week that is likely to see the U.S. Federal Reserve deliver a rate cut and the Bank of Japan stand pat for now. MKTS/GLOB DATA/EVENTS 0700 UK Claimant Count Unem Chng Nov 0700 UK ILO Unemployment Rate Oct 0700 UK HMRC Payrolls Change Nov 0900 Germany Ifo Business Climate New Dec 0900 Germany Ifo Curr Conditions New Dec 0900 Germany Ifo Expectations New Dec 1000 EU Total Trade Balance SA Oct 1000 Germany ZEW Economic Sentiment Dec 1000 Germany ZEW Current Conditions Dec 1330 US Retail Sales MM Nov 1415 US Industrial Production MM Nov ($1 = 4.4440 ringgit) <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ cpo https://tmsnrt.rs/3Dv0pXx ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Ashley Tang; Editing by Mrigank Dhaniwala) (([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 ))