VEGOILS-Palm tracks Dalian palm oil lower

JAKARTA, July 10 (Reuters) - Malaysian palm oil futures slipped on Thursday, snapping three sessions of gains, as weakness in Dalian palm oil and a strong ringgit weighed on the contract.

The benchmark palm oil contract FCPOc3 for September delivery on the Bursa Malaysia Derivatives Exchange lost 15 ringgit, or 0.36%, to 4,142 ringgit ($975.74) a metric ton by 0239 GMT.

FUNDAMENTALS

Dalian's most-active soyoil contract DBYcv1 barely changed, up 0.05%, while its palm oil contract DCPcv1 lost 0.35%. Soyoil prices on the Chicago Board of Trade BOc2 rose 0.9%.

Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market.

Oil prices dropped on Thursday as the latest tariff announcements by U.S. President Donald Trump were perceived by market participants to threaten global economic growth and demand for the resource.O/R

Weaker crude oil futures make palm a less attractive option for biodiesel feedstock.

The ringgit MYR=, palm's currency of trade, strengthened 0.07% against the dollar, making the commodity more expensive for buyers holding foreign currencies.

MARKET NEWS

Asian stocks rose slightly on Thursday, riding on optimism from Nvidia's brief rise to a world-record $4 trillion valuation and as investors largely shrugged off U.S. President Donald Trump's latest tariff salvos.MKTS/GLOB

DATA/EVENTS (GMT)

0600 Germany HICP Final YY June

0900 Germany, France, UK Overall Comprehensive Risk Q3

1230 US Initial Jobless Clm 5 July, w/e

1430 US EIA-Nat Gas Chg Bcf 4 July, w/e

1430 US Nat Gas-EIA Implied Flow 4 July, w/e

($1 = 4.2450 ringgit)