VEGOILS-Palm rises on Dalian palm olein, crude oil prices; weak soyoil limits gains

KUALA LUMPUR, March 12 (Reuters) - Malaysian palm oil futures opened higher on Wednesday, buoyed by stronger Dalian palm olein and crude oil prices though weaker soyoil prices limited the gains. The benchmark palm oil contract FCPOc3 for May delivery on the Bursa Malaysia Derivatives Exchange gained 9 ringgit, or 0.2%, to 4,497 ringgit ($1,016.04) a metric ton in early trade. The contract fell 2.96% over the past two sessions. FUNDAMENTALS * Dalian's most-active soyoil contract DBYcv1 fell 1.09%, while its palm oil contract DCPcv1 gained 0.4%. Soyoil prices on the Chicago Board of Trade BOcv1 were down 0.02%. * Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market. * Oil prices edged up, helped by a weaker dollar, but mounting fears of a U.S. economic slowdown and the impact of tariffs on global economic growth capped gains. O/R * Stronger crude oil futures make palm a more attractive option for biodiesel feedstock. * The ringgit MYR= , palm's currency of trade, weakened 0.34% against the dollar, making the commodity cheaper for buyers holding foreign currencies. * India's palm oil imports in February rose 35.7% from January to 373,549 metric tons, the Solvent Extractors' Association of India (SEA) said on Tuesday. * Prices of cooking oil could be buoyed up for years by stagnating production and a biodiesel push in top producer Indonesia that are making traditionally cheap palm oil costlier, eliminating an advantage that also curbed prices of rival oils. * Palm oil still targets 4,360 ringgit per metric ton, as pointed by a rising trendline, Reuters technical analyst Wang Tao said. TECH/C MARKET NEWS * The euro was riding at five-month highs on Wednesday on Ukraine's readiness to accept a month-long ceasefire, while stocks whipsawed on back-and-forth U.S. tariff plans and concern about a U.S. economic slowdown. MKTS/GLOB DATA/EVENTS 1230 US Core CPI MM, SA, Core CPI YY, NSA Feb 1230 US CPI MM, SA, CPI YY, NSA Feb 1230 US CPI Wage Earner Feb ($1 = 4.4260 ringgit) <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ tech https://tmsnrt.rs/3XMBPZx ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Ashley Tang; Editing by Mrigank Dhaniwala) ((ashley.tang@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 ))