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VEGOILS-Palm jumps more than 1 pct on soyoil strength, weaker ringgit

Reuters

* Palm up for third consecutive session

* Climbs to near one-month top of 2,237 rgt/T

* Ringgit falls to weakest since end-2017

(Updates with closing prices, quote)

By Emily Chow

KUALA LUMPUR, Aug 7 (Reuters) - Malaysian palm oil futures

jumped by more than 1 percent to its highest in nearly a month

on Tuesday, extending gains into a third session on strength in

related edible oils and earlier weakness in the ringgit.

The ringgit had hit its weakest since Dec. 27 on Tuesday,

but closed up 0.1 percent at 4.0470 against the dollar.

Weakness in palm's currency of trade supports the vegetable

oil price by making it cheaper for holders of foreign

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currencies.

The benchmark palm oil contract for October delivery

on the Bursa Malaysia Derivatives Exchange was up 1.3

percent at 2,235 ringgit ($548.60) a tonne at the close. It

earlier hit an intraday high of 2,237 ringgit, its strongest

levels since July 11.

Trading volumes stood at 52,881 lots of 25 tonnes each.

(1FCPO-TOT)

"The market was tracking soybean oil during Asian hours,"

said a trader in Kuala Lumpur, referring to U.S. soyoil on the

Chicago Board of Trade.

Palm oil prices are influenced by the performance of other

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

oils market.

The Chicago December soybean oil contract jumped 1

percent, while the September soybean oil contract on China's

Dalian Commodity Exchange was up 0.6 percent.

U.S. soyoil rose in line with a rebound in soybean prices

after the U.S. Department of Agriculture pegged the crop

condition below market expectations.

Meanwhile, the Dalian September palm oil contract

edged up 0.3 percent.

Palm, soy and crude oil prices at 1116 GMT

Contract Month Last Change Low High Volume

MY PALM OIL AUG8 0 +15.00 0 0 0

MY PALM OIL SEP8 2215 +23.00 2188 2215 2686

MY PALM OIL OCT8 2237 +29.00 2199 2237 17508

CHINA PALM OLEIN JAN9 4912 +16.00 4878 4920 238408

CHINA SOYOIL JAN9 5878 +38.00 5832 5894 337878

CBOT SOY OIL DEC8 29.08 +0.06 28.79 29.1 3724

INDIA PALM OIL AUG8 594.80 +2.70 591.70 595.3 760

INDIA SOYOIL AUG8 737.5 +3.65 733.5 737.65 8440

NYMEX CRUDE SEP8 69.75 +0.74 68.81 69.75 102927

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 = 4.0740 ringgit)

($1 = 68.6900 Indian rupees)

($1 = 6.8245 Chinese yuan)

(Reporting by Emily Chow; Editing by Subhranshu Sahu and

Alexander Smith)