VEGOILS-Palm closes lower for fourth day on weaker soyoil

* Palm trading at three-week lows

* Longer term fundamentals support palm - trader

(Updates with closing prices, quote)

By Emily Chow

KUALA LUMPUR, Feb 13 (Reuters) - Malaysian palm oil futures

closed lower on Wednesday for a fourth consecutive session on

back of weaker U.S. soyoil, reversing gains notched up earlier

in the day.

The benchmark palm oil contract for April delivery

on the Bursa Malaysia Derivatives Exchange fell 0.2 percent to

2,250 ringgit ($554) a tonne at the close, after earlier rising

as much as 0.8 percent in its first half of trade.

Palm had risen to a seven-month high last week before

falling to a three-week low in its previous session.

Trading volumes stood at 27,481 lots of 25 tonnes each at

the end of the trading day. (1FCPO-TOT)

"The market was doing well until soybean oil started coming

down. The ringgit was also strong," said a Kuala

Lumpur-based futures trader.

The ringgit, palm's currency of trade, strengthened 0.3

percent against the dollar on Wednesday evening. A stronger

ringgit makes the vegetable oil more expensive for holders of

other currencies.

Another trader said the longer term outlook was supportive.

"Production should drop at least 15 percent in February and

while exports will also fall, the decline won't be that sharp,"

he said.

Output of palm oil, the world's most widely used edible oil,

typically declines during the first quarter of the year in line

with a seasonal trend.

Exports of Malaysian palm oil products during Feb. 1-10 fell

11.2-15.8 percent from Jan. 1-10, according to cargo surveyors

AmSpec Agri Malaysia, Intertek Testing Services and Societe

Generale de Surveillance.

In other related oils, the Chicago March soybean oil

contract was down 0.4 percent, while the May contract on

the Dalian Commodity Exchange fell 0.1 percent.

The Dalian January palm oil contract was up 0.4

percent.

Palm oil prices are affected by movements in soyoil rates,

as they compete for a share in the global vegetable oil market.

Palm oil may bounce towards 2,285 ringgit per tonne, as it

has found a support at 2,249 ringgit, said Wang Tao, a Reuters

market analyst for commodities and energy technicals.

Palm, soy and crude oil prices at 1107 GMT

Contract Month Last Change Low High Volume

MY PALM OIL FEB9 2190 -5.00 2190 2195 14

MY PALM OIL MAR9 2207 -5.00 2207 2228 1979

MY PALM OIL APR9 2252 -4.00 2248 2272 11388

CHINA PALM OLEIN MAY9 4778 +20.00 4760 4784 260542

CHINA SOYOIL MAY9 5712 -4.00 5692 5726 224030

CBOT SOY OIL MAR9 30.22 -0.11 30.16 30.39 7217

INDIA PALM OIL FEB9 559.50 -2.40 559.00 562.5 310

INDIA SOYOIL FEB9 773 -0.65 772.65 775.5 1730

NYMEX CRUDE MAR9 53.64 +0.54 53.32 53.81 102452

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 = 4.0650 ringgit)

($1 = 70.8580 Indian rupees)

($1 = 6.7618 Chinese yuan)

(Reporting by Emily Chow

Editing by Shreejay Sinha and Edmund Blair)