* Malaysia's Jan 1-15 palm exports down 11.4 pct - ITS * Palm futures to fall to 3,108 ringgit - technicals (Updates prices, adds details) By Chew Yee Kiat SINGAPORE, Jan 16 (Reuters) - Malaysian crude palm oil futures fell to more than a three-week low on Monday as investor concerns over the euro zone debt crisis and higher-than-expected edible oil supplies weighed on the market. Rating agency S&P on Friday cut nine of the euro zone's 17 countries, including top-notch France and Austria, and said it would decide shortly whether to downgrade the euro zone's bailout fund. Further downgrades could deepen the two-year old debt crisis in Europe and further weigh on palm oil futures that lost 1.7 percent so far this year. Investors were still pricing in U.S. Department of Agriculture (USDA) and Malaysian Palm Oil Board (MPOB) reports last week that pointed to higher global soyoil and palm oil supplies. "All the numbers have been on the bearish side, from the USDA to MPOB," said a trader with a foreign commodities brokerage in Malaysia. By the midday break, benchmark April palm oil futures on the Bursa Malaysia Derivatives Exchange fell 0.9 percent to 3,121 ringgit ($991) per tonne. Prices earlier dropped 3,099 ringgit, a level last seen on Dec. 22. Traded volumes stood at lots of 9,091 lots of 25 tonnes each, thinner than the usual 12,500 lots on investor caution. Palm oil futures will fall to 3,108 ringgit per tonne based on technical analysis, Reuters market analyst Wang Tao said. The Malaysian weather office did not issue any heavy rain warning but the market is keeping a close watch as floods could complicate the delivery of palm oil to refineries and ports in the world's No.2 producer. Demand appears to be slowing as China, Europe and India cut back on orders. Malaysia's palm oil exports posted a 11 percent drop for the first 15 days in January to 591,995 tonnes, said cargo surveyor Intertek Testing Services. Some traders said the pace of exports was still strong. "Export was better the last 5 days -- it's the last minute import for China before they close one week for the Lunar New Year, but the pace is slower compared to last year," the dealer added. Another cargo surveyor, Societe Generale de Surveillance, will publish its export data for the same period later in the day. Brent crude rose towards $111 on Monday on worries over supply disruptions after Iran warned Gulf Arab neighbours of consequences if they raised oil output to replace Iranian barrels facing international sanctions. The S&P ratings cut that threatened to derail the progress in resolving the Europe debt crisis also weighed on other vegetable oil markets. The U.S. soyoil contract for March delivery tumbled 2.3 percent while the most active September 2012 soyoil contract on China's Dalian commodity exchange lost 1.4 percent. Palm, soy and crude oil prices at 0448 GMT Contract Month Last Change Low High Volume MY PALM OIL FEB2 3135 -25.00 3110 3135 383 MY PALM OIL MAR2 3125 -26.00 3103 3131 2842 MY PALM OIL APR2 3121 -27.00 3099 3128 4118 CHINA PALM OLEIN SEP2 7938 -128.00 7826 7980 51594 CHINA SOYOIL SEP2 8892 -130.00 8852 8926 130448 CBOT SOY OIL MAR2 50.23 -1.17 50.16 51.75 59387 NYMEX CRUDE FEB2 98.87 +0.18 98.60 98.95 3493 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 Crude in U.S. dollars per barrel

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