* Exports for March 1-25 rose 7.7 percent - ITS * Futures up 8.7 percent this year * U.S. plantings report to add to volatility this week * Key palm oil analysts speak in China on Mon, Tues (Updates prices, adds details) By Chew Yee Kiat SINGAPORE, March 26 (Reuters) - Malaysian palm oil futures extended gains to a new nine-month high on Monday as strong exports data and drought woes in soy-producing South America boosted investor sentiment. Agriculture markets, including palm oil, are set to face choppy trade ahead of the U.S. prospective plantings report due on Friday, which will gauge output of soybeans that is usually crushed into competing soybean oil. Palm oil has gained 8.7 percent since the start of 2011 on Asian demand chasing sluggish production, limited soyoil supplies flowing from South America although now any prospect of higher U.S. soy harvests may rein in gains. "A higher price is expected as the commodity closed higher for the third consecutive week after breaking a high of 3,270 ringgit," said a trader with a local commodities brokerage in Kuala Lumpur. "There's not much change in the fundamentals. There's some speculative buying going on, and nobody knows when it's going to end," the trader added. By the midday break, benchmark June palm oil futures on the Bursa Malaysia Derivatives Exchange gained 0.8 percent at 3,452 ringgit ($1,123) per tonne after going as high as 3,457 ringgit, a level unseen since last June. Traded volumes stood at 11,438 lots of 25 tonnes each, slightly lower than the usual 12,500 lots. Malaysian exports rose 7.7 percent for the first 25 days of March from a month ago, according to cargo surveyor Intertek Testing Services, continuing a strong export trend seen in the month. Another cargo surveyor Societe Generale de Surveillance will issue export data later in the day. Traders are keeping an eye on the U.S. Department of Agriculture planting forecasts due at the end of the month to gauge soybean output for the year. A Reuters survey of 25 market watchers said soybean acreage could rise this year as a futures market rally over the winter boosted enthusiasm for the crop. Market players will also be eyeing comments from leading analysts Dorab Mistry and Thomas Mielke, who will be presenting their outlook on edible oils this year at the China Oils and Oilseed Conference in Beijing on Monday and Tuesday. Brent crude edged below $125 on Monday as a possible resumption in crude production from South Sudan offset supply worries on news of a sizeable drop in Iranian oil exports due to Western sanctions. In other vegetable oil markets, the most active U.S. soyoil contract for May delivery gained 0.4 percent in Asian trade while the most active September 2012 soyoil contract on China's Dalian Commodity exchange jumped 1.3 percent. Palm, soy and crude oil prices at 0529 GMT Contract Month Last Change Low High Volume MY PALM OIL APR2 3485 +15.00 3484 3485 6 MY PALM OIL MAY2 3461 +25.00 3437 3462 277 MY PALM OIL JUN2 3452 +26.00 3430 3457 5819 CHINA PALM OLEIN SEP2 8752 +168.00 8668 8764 162362 CHINA SOYOIL SEP2 9724 +126.00 9666 9742 326028 CBOT SOY OIL MAY2 55.10 +0.22 54.66 55.16 4294 NYMEX CRUDE MAY2 106.55 -0.32 106.52 107.04 5743 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 ($1=3.0745 ringgit)

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