The Edge Markets (08/10/2018) - KUALA LUMPUR (Oct 8): Malaysian palm oil futures fell at the midday break on Monday, set to chart a second straight session of losses, as they tracked losses in soyoil on the US Chicago Board of Trade.

The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange was down 0.6% at RM2,207 (US$531.81) a tonne at the midday break.

It had risen to a three-week top of RM2,235 on Friday, before reversing course and ending the session lower.

Trading volumes stood at 9,741 lots of 25 tonnes each at noon.

"Soyoil is down and the crude palm oil market is on a correction," said a Kuala Lumpur-based trader.

Another futures trader said the market was cautious ahead of September's official supply and demand data and Oct 1-10 export figures, adding that "upside attempts may take a breather."

Malaysia's palm oil stocks likely edged down in September from seven-month highs in August as shipments from the world's No.2 exporter of the commodity outpaced production-growth for the month, according to a Reuters survey.

Official data will be released on Wednesday by the Malaysian Palm Oil Board.

Palm oil may fall to RM2,200 per tonne, following its failure to break a resistance at RM2,240, said Wang Tao, a Reuters market analyst for commodities and energy technicals.

In related oils, the Chicago December soybean oil contract was down 0.4%.

Meanwhile, the January soybean oil contract on the Dalian Commodity Exchange rose 0.8% and the Dalian January palm oil contract gained 1%.

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 0513 GMT

Contract                         Month    Last    Change    Low    High   Volume

MY PALM OIL                 OCT8     2120      -19.00     2120    2121      20

MY PALM OIL                 NOV8     2156     -10.00     2146    2158    1064

MY PALM OIL                 DEC8     2207     -14.00     2199    2216    5300

CHINA PALM OLEIN     JAN9     4748     +48.00    4732    4768  156190

CHINA SOYOIL              JAN9     5894      +44.00    5884    5920  165306

CBOT SOY OIL              DEC8    29.09     +0.01      29.09    29.1       5

INDIA PALM OIL            OCT8   593.50   -1.40     592.80     595      45

INDIA SOYOIL                OCT8    750.3      -2.55       750.1   754.8     540

NYMEX CRUDE           NOV8    73.81      -0.53       73.53   74.58   36948

Palm oil prices in Malaysian ringgit per tonne

CBOT soy oil in US 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 US dollars per barrel

(US$1 = RM4.1500)

(US$1 = 73.8625 Indian rupees)

(US$1 = 6.8970 Chinese yuan)