VEGOILS-Palm edges up tracking soyoil strength

* Palm heads for second straight session of gains

* Ringgit strength limits palm's gains - trader

By Emily Chow

KUALA LUMPUR, Jan 14 (Reuters) - Malaysian palm oil futures

edged higher on Monday, supported by the previous session's

gains in Chicago soyoil prices, although a strong ringgit

limited the upside.

The ringgit, palm oil's currency of trade, gained nearly 1

percent against the dollar last week and was last trading around

a four-month high.

The benchmark palm oil contract for March delivery

on the Bursa Malaysia Derivatives Exchange was up 0.2 percent at

2,175 ringgit ($531.14) a tonne at noon, heading for a second

straight session of gains.

Trading volumes stood at 9,349 lots of 25 tonnes each at the

midday break. (1FCPO-TOT)

"The market is supported by continued gains in rival oilseed

soyoil," said a Kuala Lumpur-based futures trader, adding that

the ringgit's strength capped the vegetable oil's gains.

Palm oil prices are impacted by changes in those of soyoil,

as they compete for a share in the global vegetable oil market.

The Chicago March soybean oil contract rose 0.8

percent on Friday, and was last up 0.1 percent on Monday.

Soyoil prices rose on Friday in line with gains in soybeans,

which advanced on technical buying and concerns about crop

prospects in South America due to adverse weather in Brazil and

Argentina.

In other related oils, the May soybean oil contract on the

Dalian Commodity Exchange rose 0.4 percent, and the

Dalian January palm oil contract dropped 5.9 percent.

Palm, soy and crude oil prices at 0542 GMT:

Contract Month Last Change Low High Volume

MY PALM OIL JAN9 0 +0.00 0 0 0

MY PALM OIL FEB9 2128 +5.00 2126 2134 199

MY PALM OIL MAR9 2175 +4.00 2168 2183 4173

CHINA PALM OLEIN JAN9 4120 -258.0 4120 4400 44

0

CHINA SOYOIL JAN9 0 +0.00 0 0 0

CBOT SOY OIL JAN9 28.17 +0.00 0 0 0

INDIA PALM OIL JAN9 548.20 +2.50 546.50 549.8 201

INDIA SOYOIL JAN9 768.9 +5.35 766.05 769.5 830

NYMEX CRUDE FEB9 51.05 -0.54 50.85 52.11 66075

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 = 4.0950 ringgit)

($1 = 70.8000 Indian rupees)

($1 = 6.7578 Chinese yuan)

(Reporting by Emily Chow; Editing by Subhranshu Sahu)