VEGOILS-Palm extends gains on good export expectations, soyoil

(Updates with midday break prices, trader's quote) JAKARTA, Oct 21 (Reuters) – Malaysian palm oil futures rose on Tuesday as the market found support from expectations of good export numbers and stronger soyoil markets at Dalian and Chicago. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange gained 43 ringgit, or 0.95%, to 4,556 ringgit ($1,078.60) a metric ton by the midday break. "The futures opened higher today, following bullish momentum in soyoil market in the U.S. and South America, and a promising October 1-20 palm oil export performance from Malaysia," said Anilkumar Bagani, research head of Sunvin Group, a Mumbai-based vegetable oil brokerage. Dalian's most-active soyoil contract added 0.22%, while its palm oil contract rose 0.09%. Soyoil prices on the Chicago Board of Trade were up 0.1%. Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market. Exports of Malaysian palm oil products for October 1-20 rose 3.4% to 1,044,784 metric tons from 1,010,032 metric tons shipped during September 1-20, cargo surveyor Intertek Testing Services said on Monday. Chicago Board of Trade soybean futures hit their highest level in a month on Monday on renewed optimism over U.S.-China trade talks. The Malaysian Palm Oil Council said on Tuesday that crude palm oil prices will hold steady above 4,400 ringgit ($1,042) per metric ton heading into 2026, amid uncertain palm and soybean oil exports. The ringgit, palm's currency of trade, traded flat against the dollar. A weaker ringgit would make the commodity less expensive for buyers holding foreign currencies. Palm oil may test support at 4,484 ringgit per metric ton, a break below which could open the way towards 4,456 ringgit, Reuters technical analyst Wang Tao said. ($1 = 4.2240 ringgit) (Reporting by Dewi Kurniawati; Editing by Harikrishnan Nair)

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