Yahoo News (08/07/2019) - Market charts third decline in four days * Palm oil neutral in 1,944-1,966 rgt/T range - techs (Updates with closing prices) By Emily Chow KUALA LUMPUR, July 8 (Reuters) - Malaysian palm oil futures eased at the close of trade on Monday as the market expects July output to rise amid weak demand. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange closed down 0.8% at 1,945 ringgit ($469.92) per tonne, a third session of losses in four. Palm oil looks neutral in a range of 1,944-1,966 ringgit per tonne, and a breakout could suggest a direction, said Wang Tao, a Reuters market analyst for commodities and energy technicals. "The market is expecting production to pick up in line with the seasonal trend," said a Kuala Lumpur based trader, referring to Malaysian production in July. "(Sentiment is) overall bearish due to weak demand, and the market is taking some gains off the table ahead of the key crop report," he added, referring to official data release by industry regulator the Malaysian Palm Oil Board (MPOB) for the month of June. A Reuters survey showed that June inventories are forecast to fall 4% to 2.35 million tonnes from the previous month. Meanwhile, exports were seen declining 19% to 1.39 million tonnes, and production is expected to ease 8% to 1.54 million tonnes. Official palm oil data for June will be published by the MPOB ‪after 0430 GMT on July 10. In other related oils, U.S. soyoil futures on the Chicago Board of Trade were up 0.5%, while the September soyoil contract on the Dalian Commodity Exchange rose 0.6%. The Dalian September palm oil contract was down 0.3%. Palm oil prices are impacted by movements in related oils, as they compete for a share in the global vegetable oils market. Palm, soy and crude oil prices at 1048 GMT Contract Month Last Change Low High Volume MY PALM OIL JUL9 1907 -18.00 1893 1972 22 MY PALM OIL AUG9 1919 -18.00 1912 1938 1787 MY PALM OIL SEP9 1942 -15.00 1940 1964 17175 CHINA PALM OLEIN SEP9 4238 -12.00 4226 4268 435352 CHINA SOYOIL SEP9 5456 +30.00 5410 5474 396892 CBOT SOY OIL AUG9 27.7 +0.14 27.61 27.79 3180 INDIA PALM OIL JUL9 496.90 -2.80 496.20 500.5 812 INDIA SOYOIL JUL9 733.5 -7.15 733.5 739.55 9140 NYMEX CRUDE AUG9 57.46 -0.05 57.37 57.91 105857 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 = 4.1390 ringgit) ($1 = 68.6400 Indian rupees) ($1 = 6.8801 Chinese yuan) (Reporting by Emily Chow; editing by Uttaresh.V and David Evans) Read more at https://sg.news.yahoo.com/vegoils-palm-declines-ahead-output-105906087.html