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VEGOILS-Palm oil falls on profit-taking, softer bean oil

Reuters

* Palm slides from highest since March 4

* Profit-taking, overnight bean oil weakness drag prices -

traders

* Palm may retrace towards support at 2,142 rgt - technicals

By Liz Lee

KUALA LUMPUR, March 22 (Reuters) - Malaysian palm oil

futures fell on Friday, snapping a week-long uptrend, as

investors took profit while weakness in overnight soybean oil

prices also weighed.

The benchmark third-month palm oil contract on the

Bursa Malaysia Derivatives Exchange fell 0.6 percent to 2,159

ringgit ($531.90) a tonne at the midday break, heading for its

first drop in six sessions.

The futures had risen to their highest since March 4 in the

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previous session, lifting the week's gains to 4.5 percent, the

largest weekly climb since November 2016.

Palm had risen on expectations of slowing output growth and

a better outlook for exports.

"The market has risen quite a bit, so traders are taking

profit as well as tracking overnight losses in the bean oil

market," a Kuala Lumpur-based trader said.

Another trader said that market could remain buoyant and

trade upwards in the second half of the session.

The Chicago soybean oil contract fell 0.6 percent in

Thursday's trading and was last up 0.1 percent. The Dalian

Commodity Exchange soyoil contract was down 1 percent

while the palmolein contract fell 0.5 percent.

Palm oil faces a resistance at 2,190 ringgit per tonne, and

may retrace towards a support at 2,142 ringgit, said Wang Tao, a

Reuters market analyst for commodities and energy technicals.

Palm, soy and crude oil prices at 0446 GMT

Contract Month Last Change Low High Volume

MY PALM OIL APR9 2075 -15.00 2075 2077 116

MY PALM OIL MAY9 2123 -14.00 2118 2132 1047

MY PALM OIL JUN9 2160 -12.00 2152 2168 3794

CHINA PALM MAY9 4468 -20.00 4464 4496 241770

OLEIN

CHINA SOYOIL MAY9 5498 -52.00 5474 5552 313494

CBOT SOY OIL MAY9 29.11 +0.01 29.07 29.19 2607

INDIA PALM OIL MAR9 526.00 -1.50 525.60 526.5 22

INDIA SOYOIL APR9 739.9 -0.95 737.15 740.1 740

NYMEX CRUDE MAY9 59.85 -0.13 59.76 60.06 24598

* For a table on Malaysian physical palm oil prices,

including refined oil, Eikon users can double click on or type

.

* To view freight rates from Peninsula Malaysia/Sumatra to

China, India, Pakistan and Rotterdam, please key in

and press enter, or double click between the brackets.

* Eikon users can see cash and futures edible oil prices by

double clicking on the codes in the brackets: To go to the next

page in the same chain, hit F12. To go back, hit F11.

Vegetable oils --

Malaysian palm oil exports --

CBOT soyoil futures --

CBOT soybean futures --

Indian solvent --

Weekly Indian vegetable oils --

Dalian Commodity Exchange --

Dalian soyoil futures --

Dalian refined palm oil futures --

Zhengzhou rapeseed oil --

European edible oil prices/trades --

($1 = 4.0590 ringgit)

($1 = 6.7036 Chinese yuan)

($1 = 68.5625 Indian rupees)

(Reporting by Liz Lee, Editing by Shreejay Sinha)