VEGOILS-Palm sees first gain in four sessions on higher export outlook
* Palm records first gain in four sessions
* Market up on stronger exports forecast - Trader
* Cargo surveyor export data scheduled for Thursday release
(Updates latest prices)
By Emily Chow
KUALA LUMPUR, Aug 30 (Reuters) - Malaysian palm oil futures
rose on Tuesday after three sessions of losses, supported by a
stronger outlook for exports and a weaker ringgit.
Benchmark palm oil futures for November on the
Bursa Malaysia Derivatives Exchange closed up 0.4 percent at
2,526 ringgit ($624) per tonne.
Traded volumes totalled 34,724 lots of 25 tonnes each on
Tuesday, below the 2015 average of 44,600.
"The market is up on strong export expectations," said a
trader from Kuala Lumpur, referring to traders' outlook of
export data from cargo surveyors for the full month of August.
Palm oil shipments from Malaysia, the world's largest
producer after Indonesia, gained 29-31 percent during the Aug.
1-25 period from the previous month, according to Intertek
Testing Services and Societe Generale de Surveillance.
Data for end-August is scheduled to be released on Thursday.
Palm also found support from a weaker ringgit, its currency
of trade. The Malaysian currency fell 0.2 percent against the
dollar to reach 4.0480 in late trade, making palm oil cheaper
for foreign currency holders.
The ringgit earlier climbed to 4.0560 per dollar, its
weakest level in three weeks.
In competing vegetable oils, the Chicago Board of Trade
soybean oil December contract declined 0.5 percent, while
the January soybean oil contract on the Dalian Commodity
Exchange slipped 0.03 percent.
Palm, soy and crude oil prices at 1035 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP6 2792 -1.00 2788 2815 222
MY PALM OIL OCT6 2607 -1.00 2594 2623 2421
MY PALM OIL NOV6 2528 +9.00 2513 2541 16275
CHINA PALM OLEIN JAN7 5446 -44.00 5426 5490 909550
CHINA SOYOIL JAN7 6290 -2.00 6246 6314 410350
CBOT SOY OIL DEC6 33.06 -0.16 33.03 33.33 5474
INDIA PALM OIL AUG6 559.30 -0.40 559.00 561 379
INDIA SOYOIL SEP6 641.2 +1.50 639 643.5 24210
NYMEX CRUDE OCT6 47.29 +0.31 46.94 47.45 54350
Palm oil prices in Malaysian ringgit per tonne
CBOT soy oil in U.S. cents per pound
Dalian soy oil and RBD palm olein in Chinese yuan per tonne
India soy oil in Indian rupee per 10 kg
Crude in U.S. dollars per barrel
($1 = 4.0480 ringgit)
($1 = 67.0450 Indian rupees)
($1 = 6.6764 Chinese yuan)
(Reporting by Emily Chow; Editing by Sunil Nair and Susan
Fenton)