Palm oil snaps five-day rally

JAKARTA, Dec 2 (Reuters): Malaysian palm oil futures fell on Monday, snapping a run of five consecutive sessions of gain, dragged down by weakness in Dalian and Chicago soyoil prices and lower exports in November.

The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange lost 62 ringgit, or 1.24 per cent, to 4,958 ringgit ($1,112.41) a metric ton at closing.

The contract rose 6.9 per cent in November, logging its fourth monthly gain.

"Today's crude palm oil futures are havinga profit-takingrun after the recent rally on the back of softer Dalian, Chicago soyoil and lower export figures for the month of November," a Kuala Lumpur-based trader said.

Dalian's most-active soyoil contract shed 0.98 per cent,while its palm oil

contract climbed 1.31 per cent.Soyoil at the Chicago Board of Trade dropped

0.34 per cent as

trading resumed after the Thanksgiving holiday.