VEGOILS-Palm extends gains into second session, tracking soyoil

KUALA LUMPUR, June 14 (Reuters) - Malaysian palm oil futures rose for a second straight session on Friday, tracking firmer U.S. commodity markets overnight. However, the vegetable oil was marginally down for the week, in what could be its second consecutive weekly drop. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange was up 0.85% at 2,025 ringgit ($485.96) per tonne. Soybeans advanced in Chicago as weather worries threatened to curb production. The Chicago July soybean oil contract closed at its highest in over six weeks on Thursday, while the September soyoil contract on the Dalian Commodity Exchange gained 0.8%. FUNDAMENTALS * U.S. corn futures hit a near four-year high on Friday as concerns that North American farmers will be unable to complete planting pushed the grain towards a weekly gain of nearly 7%. * Oil fell on Friday after sharp gains in the previous session when prices were boosted after attacks on two oil tankers in the Gulf of Oman stoked concerns of reduced crude flows through one of the world's key shipping routes. MARKET NEWS * Asian stocks held their ground on Friday after Wall Street gained on a surge in oil prices as attacks on tankers in the Gulf of Oman stoked U.S.-Iran tensions and raised concerns over supply flows through one of the world's main sea lanes. * The dollar held steady early in Asia on Friday, and was set to show a weekly rise as investor focus turned to next week's Federal Reserve meeting for cues on a possible interest rate cut in light of rising risks to trade and global growth. * U.S. stocks rose on Thursday after two days of declines, as energy shares rebounded with oil on concerns of a supply disruption following attacks on two tankers in the Gulf of Oman. For more vegetable oil-related stories, please click DATA/EVENTS (GMT) 0630 India WPI Inflation YY May 1030 Russia Central Bank Key Rate June Palm, soy and crude oil prices at 0258 GMT Contract Month Last Change Low High Volume MY PALM OIL JUN9 0 +0.00 0 0 0 MY PALM OIL JUL9 2020 +16.00 2016 2020 119 MY PALM OIL AUG9 2024 +16.00 2018 2028 2037 INDIA PALM OIL JUN9 0.00 +0.00 0.00 0.00 0 INDIA SOYOIL JUN9 755.25 +4.70 750.10 756.15 5750 NYMEX CRUDE JUL9 52.19 -0.09 51.70 52.31 41054 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 = 69.3840 Indian rupees) ($1 = 6.9179 Chinese yuan) ($1 = 4.1670 ringgit) (Reporting by Fransiska Nangoy; Editing by Subhranshu Sahu)