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VEGOILS-Palm reverses gains on trade war concerns, ringgit strength

* Palm earlier rose to 4-day top of 2,058 rgt/T

* Ringgit gained slightly around noon

* Market also down on profit taking - trader

(Updates with midday price, quote)

By Emily Chow

KUALA LUMPUR, May 8 (Reuters) - Malaysian palm oil futures

surrendered gains to fall on Wednesday amid concerns over

Sino-U.S. trade conflict and as the ringgit strengthened.

A stronger ringgit, palm's currency of trade, usually makes

the edible oil more expensive for foreign buyers. It rose 0.02

percent against the dollar to 4.1460 on Wednesday, after

previously seeing seven straight days of losses.

The benchmark palm oil contract for July delivery

on the Bursa Malaysia Derivatives Exchange was last down 0.1

percent at 2,038 ringgit ($491.56) a tonne around noon, after

earlier climbing to a four-day high of 2,058 ringgit.


Palm prices had risen nearly 3 percent in its previous

session tracking gains in related edible oils.

"The market started strong on supportive external oils, but

the ringgit strengthened along with some profit-taking which

weighed on the market," said a Kuala Lumpur-based futures

trader.

She added that the market was also uncertain over the

U.S.-China trade talks that are scheduled to start on Thursday

when China's vice premier visits Washington.

Global stocks and commodities markets were hit earlier this

week after U.S. president Donald Trump threatened to impose

additional tariffs on Chinese imports.

In other related oils, the Chicago July soybean oil contract

rose 0.2 percent, while the May soyoil contract on the

Dalian Commodity Exchange gained 1 percent.

Meanwhile, the Dalian May palm oil contract slipped

0.1 percent.

Palm oil prices are affected by movements in soyoil, with

which it competes for global market share.

Palm, soy and crude oil prices at 0455 GMT

Contract Month Last Change Low High Volume

MY PALM OIL MAY9 0 +0.00 0 0 0

MY PALM OIL JUN9 2010 -4.00 2009 2030 523

MY PALM OIL JUL9 2038 -2.00 2032 2058 6844

CHINA PALM OLEIN MAY9 4180 -6.00 4174 4228 354

CHINA SOYOIL MAY9 5286 +50.00 5238 5400 306

CBOT SOY OIL MAY9 26.81 +0.00 0 0 350

INDIA PALM OIL MAY9 518.00 -0.40 518.00 520.1 160

INDIA SOYOIL MAY9 737.35 +1.50 733.55 739.1 1420

NYMEX CRUDE JUN9 61.87 +0.47 61.43 61.95 36600

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

* For a table on Malaysian physical palm oil prices,

including refined oil, Reuters Terminal 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.

* Reuters Terminal 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 = 4.1460 ringgit)

($1 = 69.6090 Indian rupees)

($1 = 6.7702 Chinese yuan)

(Reporting by Emily Chow; editing by Uttaresh.V and Shreejay

Sinha)