(Updates for market close) JAKARTA, Oct 21 (Reuters) – Malaysian palm oil futures reversed previous gains and fell on Tuesday after the market followed softening of rival vegetable oils prices at the Dalian market. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange lost 5 ringgit, or 0.11%, to 4,508 ringgit ($1,067.23) a metric ton at the close. Dalian's most-active soyoil contract lost 0.22%, while its palm oil contract fell 0.81%. Soyoil prices on the Chicago Board of Trade were up 0.12%. Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market. The Malaysian Palm Oil Council said on Tuesday that crude palm oil prices will hold steady above 4,400 ringgit ($1,042) per metric ton headin

See Full Page