VEGOILS-Palm jumps 1 pct, tracking stronger U.S. soyoil

* Market sees sharpest daily jump in a week

* Palm however down 1.3 pct on weekly basis

(Updates with closing prices)

By Emily Chow

KUALA LUMPUR, Oct 12 (Reuters) - Malaysian palm oil futures

rose 1 percent on Friday evening, its sharpest daily gain in a

week, after two sessions of declines, tracking gains in soyoil

on the U.S. Chicago Board of Trade (CBOT).

The 1 percent rise in the benchmark palm oil contract for

December delivery on the Bursa Malaysia Derivatives

Exchange to 2,193 ringgit ($528.05) a tonne by the close was its

strongest daily gain since October 4.

In the previous session, it had hit a more than one-week low

of 2,153 ringgit and is down 1.3 percent for the week.

Trading volumes stood at 34,137 lots of 25 tonnes each at

the close. (1FCPO-TOT)

"Palm rose on firmer soyoil," said a Kuala Lumpur-based

futures trader, referring to CBOT soyoil.

Another trader said that a positive report from the U.S.

Agriculture Department was supportive for the soy and palm

markets.

The U.S. Agriculture Department surprisingly trimmed its

forecasts for both domestic corn and soybean production on

Thursday, with the soy cut stemming from a reduction in acres

while the corn harvest will be lower due to

smaller-than-expected yields.

The Chicago December soybean oil contract edged up

0.3 percent on Thursday, and was last up 0.7 percent on Friday.

In other related oils, the January soybean oil contract on

the Dalian Commodity Exchange was up by 0.1 percent

while the Dalian January palm oil contract rose 1.2

percent.

Palm oil prices are affected by movements of other edible

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

market.

Palm, soy and crude oil prices at 1042 GMT

Contract Month Last Change Low High Volume

MY PALM OIL OCT8 2113 +17.00 2103 2116 40

MY PALM OIL NOV8 2146 +17.00 2135 2153 2259

MY PALM OIL DEC8 2194 +22.00 2179 2201 15874

CHINA PALM OLEIN JAN9 4798 +56.00 4720 4800 332286

CHINA SOYOIL JAN9 5918 +4.00 5864 5924 437254

CBOT SOY OIL DEC8 28.73 +0.00 0 0 0

INDIA PALM OIL OCT8 586.30 +0.50 583.70 588 360

INDIA SOYOIL OCT8 750.55 +1.25 749.9 753.8 1480

NYMEX CRUDE NOV8 71.39 +0.42 70.94 72.01 129076

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 = 4.1530 ringgit)

($1 = 6.9173 Chinese yuan)

($1 = 73.6700 Indian rupees)

(Reporting by Emily Chow; Editing by Vyas Mohan and Adrian

Croft)