* 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
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
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