VEGOILS-Palm edges higher on weaker ringgit, stronger export outlook

* Palm oil may stabilize in 2,206-2,215 rgt/T zone - techs

* Ringgit trading at weakest levels since November

* Market awaiting export data due on Sept. 3

(Updates with closing prices, quote)

By Emily Chow

KUALA LUMPUR, Aug 30 (Reuters) - Malaysian palm oil futures

inched higher on Thursday evening on a weaker ringgit and

expectations that export figures due early next week will show

monthly gains.

The benchmark palm oil contract for November delivery

on the Bursa Malaysia Derivatives Exchange was up 1.4

percent at 2,248 ringgit ($547.22) a tonne at Thursday's close.

Trading volumes stood at 42,591 lots of 25 tonnes each at

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

"The weaker ringgit had some impact on the market," said a

Singapore-based futures trader. A weaker ringgit, palm oil's

currency of trade, usually makes the edible oil cheaper for

holders of foreign currencies.

The ringgit is at its weakest levels against the

dollar since November, and was last traded at 4.1050 per dollar

on Thursday afternoon.

"The market is also expecting higher export figures, plus

some covering ahead of a long weekend," said a Kuala

Lumpur-based trader, referring to Malaysia's palm oil August

shipments data, scheduled to be released by cargo surveyors on

Sept. 3.

Markets in Malaysia close on Friday for a national holiday.

In other related oils, the Chicago December soybean oil

contract was up 0.6 percent while the January soybean

oil contract on China's Dalian Commodity Exchange

declined 0.1 percent.

The Dalian January palm oil contract was up 0.3

percent.

Palm oil prices are impacted by movements of other edible

oils, as they compete for a share in the global vegetable oils

market.

Palm oil may stabilize in a support zone of 2,206-2,215

ringgit per tonne and then retest a resistance at 2,245 ringgit,

according to Wang Tao, a Reuters market analyst for commodities

and energy technicals.

Palm, soy and crude oil prices at 1045 GMT

Contract Month Last Change Low High Volume

MY PALM OIL SEP8 2195 +23.00 2177 2199 458

MY PALM OIL OCT8 2232 +32.00 2202 2234 6107

MY PALM OIL NOV8 2245 +31.00 2218 2252 17786

CHINA PALM OLEIN JAN9 4892 +16.00 4842 4894 284878

CHINA SOYOIL JAN9 5798 -6.00 5752 5802 361304

CBOT SOY OIL DEC8 28.6 +0.17 28.38 28.64 7222

INDIA PALM OIL AUG8 594.10 +1.70 592.50 594.4 765

INDIA SOYOIL SEP8 731.4 +3.35 726.9 732.1 8340

NYMEX CRUDE OCT8 70.00 +0.49 69.55 70.01 84307

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 = 4.1080 ringgit)

($1 = 70.7800 Indian rupees)

($1 = 6.8300 Chinese yuan)

(Reporting by Emily Chow

Editing by Amrutha Gayathri and Edmund Blair)