VEGOILS-Palm weighed by on weak rival oil prices, export data

JAKARTA, Jan 16 (Reuters) - Malaysian palm oil futures declined for a third straight session on Thursday, weighed down by weak export data and losses in rival vegetable oils in the Chicago and Dalian markets. The benchmark palm oil contract FCPOc3 for April delivery on the Bursa Malaysia Derivatives Exchange has lost 38 ringgit, or 0.89%, to 4,230 ringgit ($940.84) a metric ton by 0245 GMT. FUNDAMENTALS * Soyoil prices on the Chicago Board of Trade BOc2 were down 1.01%. Dalian's most-active soyoil contract DBYcv1 lost 0.59%, while its palm oil contract DCPcv1 fell 1.72%. * Palm oil tracks price movements in rival edible oils as it competes for a share of the global vegetable oils market. * Exports of Malaysian palm oil products during Jan. 1-15 are estimated to have fallen between 15.5% and 23.7%, according to cargo surveyors Intertek Testing Services and independent inspection company AmSpec Agri Malaysia. * Palm oil may stabilise around support at 4,253 ringgit and bounce towards 4,351-4,412 ringgit, said Reuters' technical analyst Wang Tao. TECH/C MARKET NEWS * Oil prices rose for a second day after a larger-than-expected decline in U.S. crude oil stockpiles added to supply concerns stoked by U.S. sanctions against Russian energy trade. O/R * Asian shares tracked Wall Street higher and the dollar was soft as easing core U.S. inflation kept potential rate cuts by the Federal Reserve on the table, while the yen rose to a one-month high on rate hike bets. MKTS/GLOB DATA/EVENTS 0700 Germany HICP Final YY Dec 0700 UK GDP Est 3M/3M, MM, YY Nov 0700 UK Services MM, Services YY Nov 0700 UK Manufacturing Output MM Nov 1000 EU Total Trade Balance SA Nov 1330 US Import Prices YY Dec 1330 US Initial Jobless Clm 11 Jan, w/e 1330 US Philly Fed Business Indx Jan 1330 US Retail Sales MM Dec 1530 US EIA-Nat Gas Chg Bcf 10 Jan, w/e 1530 US Nat Gas-EIA Implied Flow 10 Jan w/e ($1 = 4.4960 ringgit) <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ cpo https://tmsnrt.rs/42dVXXt ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Bernadette Christina; Editing by Savio D'Souza) (([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 ))