VEGOILS-Palm oil slips with traders eyeing export estimates

KUALA LUMPUR, Jan 31 (Reuters) - Malaysian palm oil futures fell on Friday following the two-day Lunar New Year holiday, as the market awaits export estimates, although firmer rival Chicago soyoil and crude oil prices and a weaker ringgit capped the losses. The benchmark palm oil contract FCPOc3 for April delivery on the Bursa Malaysia Derivatives Exchange slid 16 ringgit, or 0.37%, to 4,264 ringgit ($965.80) a metric ton by 0334 GMT. The contract has gained about 1.14% so far this week. FUNDAMENTALS * Cargo surveyors are expected to release Malaysian palm oil export estimates for January later on Friday. * Oil prices rose on Friday as markets weigh the threat of tariffs by U.S. President Donald Trump on Mexico and Canada, the two largest crude exporters to the U.S., that could take effect this weekend. * Brent crude futures LCOc1 for March, which expires on Friday, gained 44 cents at $77.31 a barrel at 0320 GMT. Stronger crude oil futures make palm a more attractive option for biodiesel feedstock. O/R * Soyoil prices on the Chicago Board of Trade BOcv1 were up 1.18%. The Dalian Commodity Exchange is closed from Jan. 28 to Feb. 4 for the Lunar New Year holidays. * Palm oil tracks price movements of rival edible oils, as they compete for a share of the global vegetable oils market. * The ringgit MYR= , palm's currency of trade, weakened 0.62% against the dollar, making the commodity cheaper for buyers holding foreign currencies. * Palm oil may test resistance at 4,315 ringgit per metric ton, a break above which could open the way towards 4,364 ringgit to 4,425 ringgit range, Reuters technical analyst Wang Tao said. TECH/C MARKET NEWS * Asian shares wavered on Friday, weighed down by the return of tech-heavy South Korean stocks from holidays, but relatively strong earnings from U.S. tech giants kept risk sentiment intact while tariff threats pushed the dollar and gold prices higher. MKTS/GLOB DATA/EVENTS 0700 UK Nationwide house price mm, Nationwide house price yy Jan 0745 France CPI (EU Norm) Prelim YY, CPI (EU Norm) Prelim MM Jan 0745 France CPI Prelim YY NSA, CPI Prelim MM NSA Jan 0745 France Producer Prices YY Dec 0855 Germany Unemployment Chg SA, Unemployment Rate SA Jan 1300 Germany CPI Prelim YY, HICP Prelim YY Jan 1330 US Consumption, Adjusted MM Dec 1330 US Core PCE Price Index MM, Core PCE Price Index YY Dec 1330 US PCE Price Index MM, PCE Price Index YY Dec ($1 = 4.4150 ringgit) <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ cpo https://tmsnrt.rs/3EjL50z ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Danial Azhar; Editing by Eileen Soreng) ((danial.azhar@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 ))