Yahoo Finance VEGOILS-Palm jumps over 1 pct tracking crude oil gains
* Market snaps five earlier days of losses
* Palm oil rises tracking CBOT soyoil's gain on Friday -
Trader
* Chinese markets closed on Monday for national holiday
(Updates with closing prices, quote)
By Emily Chow
KUALA LUMPUR, Sept 24 (Reuters) - Malaysian palm oil futures
gained more than 1 percent in the second half of trading on
Monday, snapping five straight sessions of declines, tracking
strength in crude oil and U.S. Chicago Board of Trade (CBOT)
soyoil.
The benchmark palm oil contract for December delivery
was up 0.9 percent at 2,162 ringgit ($523.87) a tonne
on the Bursa Malaysia Derivatives Exchange at the close of
trade, its strongest daily gain in two weeks.
It earlier rose as much as 1.3 percent to an intraday high
of 2,170 ringgit, after hitting a three-year low on Friday. Palm
shed 3.6 percent last week in its second consecutive weekly
decline.
Trading volumes stood at 37,379 lots of 25 tonnes each at
the close of trade. (1FCPO-TOT)
CBOT soyoil's gain on Friday and firm crude oil on Monday
helped palm oil open on a strong note, said a Kuala Lumpur-based
futures trader.
A second trader added that crude oil's jump to a four-year
top later in the day provided more support to palm.
Oil prices jumped more than 2 percent to a four-year high on
Monday after OPEC declined to announce an immediate increase in
production despite calls by U.S. President Donald Trump for
action to raise global supply.
Palm oil prices are impacted by movements in crude oil, as
palm is used as feedstock to make biodiesel.
In other related oils, the Chicago September soybean oil
contract jumped 1.8 percent on Friday but was down 0.1
percent on Monday.
Chinese financial markets were closed on Monday for the
Mid-Autumn festival. Trading will resume on Tuesday.
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 1055 GMT
Contract Month Last Change Low High Volume
MY PALM OIL OCT8 2139 +23.00 2120 2140 952
MY PALM OIL NOV8 2144 +18.00 2129 2152 5681
MY PALM OIL DEC8 2162 +19.00 2146 2170 16569
CHINA PALM OLEIN JAN9 0 +0.00 0 0 0
CHINA SOYOIL JAN9 0 +0.00 0 0 0
CBOT SOY OIL OCT8 28.05 -0.04 27.89 28.14 752
INDIA PALM OIL SEP8 590.70 +2.00 589.10 592.5 826
INDIA SOYOIL OCT8 737.4 +3.30 734.9 739.5 15230
NYMEX CRUDE NOV8 71.98 +1.20 71.14 72.39 125095
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 = 4.1270 ringgit)
($1 = 72.5700 Indian rupees)
($1 = 6.8559 Chinese yuan)
(Reporting by Emily Chow; Editing by Subhranshu Sahu and Louise
Heavens)
