VEGOILS-Palm oil falls on weak rival oils, bearish outlook

JAKARTA, Feb 27 (Reuters) - Malaysian palm oil futures plunged on Thursday, snapping two sessions of gain as a bearish outlook from industry analysts and weakness in rival oils weighed down the contract. The benchmark palm oil contract FCPOc3 for May delivery on the Bursa Malaysia Derivatives Exchange lost 106 ringgit, or 2.3%, to 4,505 ringgit ($1,014.64) a metric ton by 0245 GMT. FUNDAMENTALS * Dalian's most-active soyoil contract DBYcv1 was up 0.08%, while its palm oil contract DCPcv1 dropped 1.59%. Soyoil prices on the Chicago Board of Trade (CBOT) BOc2 fell 0.53%. * Palm oil tracks price movements of rival edible oils as it competes for a share of the global vegetable oils market. * A recovery in palm oil production and lower imports by rate-sensitive consumers are expected to drive prices lower, chipping away the premium of the tropical oil over rivals, even as top producer Indonesia boosts biodiesel production, industry analysts told a conference in Kuala Lumpur this week. * Exports of Malaysian palm oil products in the February 1-25 period are estimated to drop by 2.7%, according to cargo surveyor Intertek Testing Services. However, independent inspection company AmSpec Agri Malaysia estimated exports rose 1.2% month-on-month. * Palm oil looks neutral in the zone of 4,542 ringgit to 4,608 ringgit per metric ton, and an escape could suggest a direction. TECH/C MARKET NEWS * The U.S. dollar firmed in early Asian hours on Thursday as Treasury yields ticked higher while investors assessed the outlook for tariffs and the economy under President Donald Trump. MKTS/GLOB DATA/EVENTS (GMT) 0745 France Producer Prices YY Jan 0855 Germany Unemployment Chg SA, Unemployment Rate SA Feb 1000 EU Consumer Confid. Final Feb 1330 US Durable Goods Jan 1330 US GDP 2nd Estimate Q4 1330 US Initial Jobless Clm 22 Feb, w/e 1530 US EIA-Nat Gas Chg Bcf, Nat Gas-EIA Implied Flow 21 Feb, w/e ($1 = 4.4400 ringgit) <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ cpo https://tmsnrt.rs/434tYdg ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Bernadette Christina; Editing by Mrigank Dhaniwala) ((Bernadette.christina@Thomsonreuters.com)) ((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 ))