VEGOILS-Palm futures creep up on soyoil, export hopes

KUALA LUMPUR, March 18 (Reuters) - Malaysian crude palm oil futures edged higher on Wednesday as some buying interest spilled over from rival soyoil markets in the United States and China, along with prospects for better exports, traders said.

* "The market is quiet except for some buying on the account of soyoil prices going up," said a trader with a foreign commodities broker. "Exports will be good for March but it could slow a little for the second half."

* The benchmark June contract KPOc3 on the Bursa Malaysia Derivatives Exchange inched up 0.7 percent to 1,936 ringgit ($527.2) per tonne by midday.

* Other traded months were marginally higher <0#KPO:>. Overall volumes stood at 6,012 lots of 25 tonnes each.

* India has extended a ban on the export of vegetable oils by a year, a move traders said was aimed at keeping a lid on prices ahead of general elections in April and May. [ID:nDEL476792]

* Malaysian traders said India's move was a formality and would have no impact in global vegetable oil markets as India exports very little but imports the most after China.

* Oil trimmed gains and fell below $49 a barrel on Wednesday, amid profit-taking after bearish industry data showing large builds in U.S. crude stocks eroded positive sentiment from better-than-expected U.S. housing data.[O/R]

* U.S. corn futures fell 0.3 percent and soy prices rose 0.3 percent on Wednesday as the U.S. acreage bidding war between the two crops heated up and investors corrected the corn/soy spread following corn's big gain on soy last week.

* U.S soyoil delivery for May BOK9 fell 0.5 percent after rallying in the previous session while the most-active May soybean oil contract DBYK9 on China's Dalian Exchange was firm.

* In the Malaysian physical market, palm oil for March was quoted at 2,050-2,060 ringgit per tonne in the southern region. Trades were done at 2,050 ringgit. [PPO/MY]

Palm, soy and crude oil prices at 0458 GMT Contract Last Net chg Settle Open High Low Volume PALM OIL APR9 2036 + 6.00 2030 2040 2043 2035 112 PALM OIL MAY9 1993 + 11.00 1982 1990 2005 1990 1812 PALM OIL JUN9 1936 + 14.00 1922 1932 1948 1932 1608 PALM OIL JUL9 1891 + 16.00 1875 1886 1897 1886 911 CBOT soyoil* 31.14 -0.17 31.31 N/A 31.37 31.08 N/A NYMEX crude** 48.52 -0.64 49.16 N/A 48.95 48.32 N/A Palm oil prices in Malaysian ringgit per tonne * Soy oil in U.S. cents per pound ** Crude in USD per barrel ($1=3.672 Ringgit) (Reporting by Niluksi Koswanage; Editing by Valerie Lee) (niki.koswanage@thomsonreuters.com; +603 2333 8035; Reuters Messaging: niki.koswanage@reuters.com@reuters.net) * 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 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 -- Malaysian palm oil exports -- SGSPALM1 CBOT soyoil futures -- <0#BO:> CBOT soybean futures -- <0#S:> Indian solvent -- SOLVENT01 Weekly Indian vegetable oils -- [OILS/IN] Dalian Commodity Exchange -- Dalian soyoil futures -- <0#DBY:> Dalian refined palm oil futures -- <0#DCP:> Zhengzhou rapeseed oil -- <0#CRO:> Kuala Lumpur palm oil futures -- <0#KPO:> European edible oil prices/trades -- [OILS/E]