VEGOILS-Palm oil rises for second session on Dalian strength

JAKARTA, March 21 (Reuters) - Malaysian palm oil futures rose for a second straight session on Thursday, supported by strength in Dalian and Chicago vegetable oils and better-than-expected export figures. The benchmark palm oil contract FCPOc3 for June delivery on the Bursa Malaysia Derivatives Exchange was up 0.49% at 4,293 ringgit ($912.05) per metric ton, as of 0233 GMT. FUNDAMENTALS * Exports of Malaysian palm oil products for March 1-20 were seen up between 7.4% and 16.3% from the same period last month, cargo surveyors Intertek Testing Services and Amspec Agri said. * Dalian's palm oil contract DCPcv1 rose 1.26%, while its soyoil contract DBYcv1 increased 1.53%. Soyoil prices on the Chicago Board of Trade BOc2 were up 0.81%. * Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market. * Palm oil is poised to break resistance at 4,326 ringgit per metric ton, and rise into 4,378-4,410 ringgit range, Reuters technical analyst Wang Tao said. TECH/C MARKET NEWS * Oil prices rebounded on Thursday after falling in the previous session as U.S. crude and gasoline inventory declines supported the market after signs the U.S. Federal Reserve may keep rates higher for longer crimped the outlook for future fuel demand. O/R DATA/EVENTS 0745 France Business Climate Mfg, Overall March 0815 France HCOB Mfg, Serv, Comp Flash PMIs March 0830 Germany HCOB Mfg, Serv, Comp Flash PMIs March 0900 EU HCOB Mfg, Serv, Comp Flash PMIs March 0930 UK Flash Comp, Mfg, Serv PMIs March 1200 UK BOE Bank Rate March 1230 US Initial Jobless Clm Weekly 1230 US Philly Fed Business Indx March 1345 US S&P Global Mfg, Serv, Comp Flash PMIs March 1400 US Existing Homes Sales Feb ($1 = 4.7070 ringgit) (Reporting by Bernadette Christina; Editing by Subhranshu Sahu) (([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 ))