VEGOILS-Palm soars to 6-month high tracking buoyant Dalian futures

By Liz Lee

* Dalian rising due to trade war - traders * Palm earlier hit highest since Feb. 8 (Updates with closing prices) By Liz Lee KUALA LUMPUR, Aug 26 (Reuters) - Malaysian palm oil futures rose on Monday, posting a fifth straight session of gains, as they tracked a rally in rival oils on the Dalian Commodity Exchange. The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange was up 0.3% at 2,269 ringgit ($541.53) per tonne at the close, its highest since six months ago. "Dalian has been on a continuous uptrend since last week due to the escalating trade war," said a Kuala Lumpur-based trader. China on Friday announced retaliatory tariffs on about $75 billion worth of U.S. goods, including agricultural products. The September soyoil contract on the Dalian exchange climbed 1.7%, while the Dalian September palm oil contract rose 3%. Another trader said one scenario the market was keenly watching was the possibility of palm oil decoupling from soyoil as a result of the trade war. Palm oil prices are impacted by movements in related vegetable oils as they compete for a share in the global edible oils market. Slower output data continued to lend support to sentiment in the palm market. Data released by the Malaysian Palm Oil Association on Monday showed slower production growth for the first 20 days of August versus a month ago, according to traders. U.S. soyoil futures on the Chicago Board of Trade were last up 0.5% on Friday. Palm, soy and crude oil prices at 1039 GMT Contract Month Last Change Low High Volume MY PALM OIL SEP9 2220 +10.00 2220 2253 648 MY PALM OIL OCT9 2248 +4.00 2244 2292 5376 MY PALM OIL NOV9 2269 +7.00 2266 2312 31702 CHINA PALM OLEIN SEP9 4922 +142.00 4790 4956 25898 CHINA SOYOIL SEP9 6156 +100.00 6054 6206 26212 CBOT SOY OIL SEP9 28.49 +0.15 28.31 28.62 2427 INDIA PALM OIL AUG9 563.00 +7.20 560.00 565 843 INDIA SOYOIL SEP9 760.5 +3.70 758.3 764.2 13290 NYMEX CRUDE OCT9 54.57 +0.40 52.96 55.00 204074 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 ($1 = 4.1900 ringgit) ($1 = 71.8650 Indian rupees) ($1 = 7.0928 Chinese yuan) (Reporting by Liz Lee; editing by Uttaresh.V and David Evans)