VEGOILS-Palm up on stronger Dalian, crude oil

KUALA LUMPUR, Dec 24 (Reuters) - Malaysian palm oil futures rose for a second consecutive session on Tuesday, buoyed by stronger Dalian oils and firmer crude oil prices. The benchmark palm oil contract FCPOc3 for March delivery on the Bursa Malaysia Derivatives Exchange gained 22 ringgit, or 0.48%, to 4,564 ringgit a metric ton in early trade. FUNDAMENTALS * Dalian's most-active soyoil contract DBYcv1 rose 0.79%, while its palm oil contract DCPcv1 gained 1.13%. Soyoil prices on the Chicago Board of Trade BOcv1 were down 0.2%. * Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market. * Oil prices were up on Tuesday in thin trade ahead of the Christmas Day holiday, with prices supported by U.S. economic data and rising oil demand in India, the world's third-largest oil importer. O/R * Stronger crude oil futures make palm a more attractive option for biodiesel feedstock. * The ringgit MYR= , palm's currency of trade, strengthened 0.11% against the dollar, making the commodity more expensive for buyers holding foreign currencies. * The Bursa Malaysia Derivatives Exchange will be closed on Wednesday for Christmas. * Palm oil may bounce further into the range of 4,624 ringgit to 4,684 ringgit per metric ton, as it has climbed a falling channel, Reuters technical analyst Wang Tao said. TECH/C MARKET NEWS * Asian stocks edged up on Tuesday, though moves were subdued in a holiday-curtailed week, while the greenback held near a two-year high, helped by elevated U.S. Treasury yields as investors prepared for fewer Federal Reserve rate cuts in 2025. MKTS/GLOB DATA/EVENTS 0500 Japan Chain Store Sales YY Nov 1330 US Durable Goods Nov 1330 US New Home Sales-Units Nov <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ cpo https://tmsnrt.rs/3BIAwmG ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Ashley Tang; Editing by Sonia Cheema) (([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 ))