Updates midday prices, adds traders' comments

KUALA LUMPUR, Nov 27 (Reuters) -Malaysian palm oil futures climbed onWednesday for the third consecutive session, underpinned by firmer rival Chicago soyoil and production concerns in the country.

The benchmark palm oil contract FCPOc3 for February delivery on the Bursa Malaysia Derivatives Exchange gained 36 ringgit, or 0.76%, to 4,771 ringgit ($1,072.62) a metric ton at themidday break.

Crude palm oil futures were seen trading sideways to upwards following sharply higher overnight Chicago soyoil futures, but the easing of South American soyoil has seen the recovery capped, said Anilkumar Bagani, research head at Sunvin Group.

Separately, a Mumbai-based trader said production in Malaysia is not picking up and investors arewaiting for demandto resume in thefestive months of Ramadan and Lunar New Year.

Dalian's most-active soyoil contract DBYcv1 rose 0.12%, while its palm oil contract DCPcv1 added 0.66%. Soyoil prices on the Chicago Board of Trade BOcv1 gained 0.07%.

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

Oil prices steadied in early trade, with markets assessing the potential impact of a ceasefire deal between Israel and Hezbollah, and ahead of Sunday's OPEC+ meeting. O/R

Stronger crude oil futures make palm a more attractive option for biodiesel feedstock.

The ringgit MYR=, palm's currency of trade, strengthened 0.18% against the U.S. dollar, making the commodity more expensive for buyers holding foreign currencies.

European Union soybean imports in the 2024-25 season, which beganin July, had reached 4.95 million metric tons by Nov. 24, up 7% from 4.62 million tons a year earlier, while EU palm oil imports totalled 1.26 million tons, down 18% from year-ago 1.54 million tons, European Commission data showed.

Palm oil may test resistance at 4,780 ringgit per metric ton, a break above which could lead to a gain into the 4,816-4,869 ringgit range, Reuters technical analyst Wang Tao said. TECH/C

($1 = 4.4480 ringgit)

Reporting by Ashley Tang; Editing by Eileen Soreng and Sumana Nandy

For a table on Malaysian physical palm oil prices, including refined oil, Reuters Terminal users can double click on or type OILS/MY01. * To view freight rates from Peninsula Malaysia/Sumatra to China, India, Pakistan and Rotterdam, please key in OILS/ASIA2 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 OILS/ASIA1 Malaysian palm oil exports SGSPALM1 CBOT soyoil futures 0#BO: CBOT soybean futures 0#S: Indian solvent SOLVENT01 Dalian Commodity Exchange DC/MENU Dalian soyoil futures 0#DBY: Dalian refined palm oil futures 0#DCP: Zhengzhou rapeseed oil 0#COI: European edible oil prices/trades OILS/E