* Weak ringgit towards year-end may support palm prices * Palm oil to rise to 2,692 ringgit -technicals By Anuradha Raghu KUALA LUMPUR, Nov 28 (Reuters) - Malaysian palm oil futures were flat at the the midday break on Thursday after moving in choppy trade for most of the morning, but weakness in the ringgit may attract interest from overseas buyers, traders said. The Malaysian ringgit weakened slightly to 3.2330 per dollar on Thursday, making the ringgit-priced feedstock cheaper and improving margins for importers. "The ringgit will be a main factor affecting prices. Most analysts believe that it will weaken towards the end of the year and this is friendly for palm," said a trader with a foreign commodities brokerage. However, trade volumes were subdued, with most investors avoiding risky bets ahead of a palm oil conference in top producer Indonesia, where industry officials and analysts will give their outlook on prices for the vegetable oil. "For today, the market is not moving much and will probably trade in a range between 2,620-2,650 ringgit," the trader said. At the midday break, the benchmark February contract on the Bursa Malaysia Derivatives Exchange was flat at 2,640 ringgit ($817) per tonne. Total traded volume stood at 7,706 lots of 25 tonnes each, nearly half the typical 12,500 lots. On the technical front, Reuters market analyst Wang Tao expected palm oil to rise towards its Nov. 22 high of 2,692 ringgit per tonne. Government initiatives to push forward the biodiesel industries in Indonesia and Malaysia, the world's biggest palm oil producers, have lifted benchmark prices, which could post their first yearly gain since 2010. But investors said falling crude oil prices could crimp export demand for the "green" biodiesel and make it less attractive as a substitute. U.S. oil closed down by $1.38 at $92.30 on Wednesday, its lowest close since May 31, after dipping to $91.77 earlier in the session following news of a higher-than-expected build-up in inventories. "It all depends on crude oil prices. If crude trades below $90 per barrel, I'm not sure about the biodiesel story and whether it will slow down," the Malaysian-based trader added. "But Indonesia will be going ahead, irrespective of where crude oil is." Brent crude oil futures held above $111 a barrel on worries that supply from OPEC member Libya would continue to be disrupted as winter oil demand increased. In competing vegetable oil markets, the most active May soybean oil contract on the Dalian Commodities Exchange rose 0.3 percent in early Asian trade. The U.S. soyoil market is closed for the U.S. Thanksgiving holiday. Palm, soy and crude oil prices at 0543 GMT Contract Month Last Change Low High Volume MY PALM OIL DEC3 2610 -10.00 2591 2615 90 MY PALM OIL JAN4 2635 -4.00 2626 2643 1451 MY PALM OIL FEB4 2640 +0.00 2626 2647 4838 CHINA PALM OLEIN MAY4 6340 +46.00 6284 6348 516926 CHINA SOYOIL MAY4 7270 +20.00 7230 7278 439608 CBOT SOY OIL JAN4 40.35 +0.00 0.00 0.00 0 NYMEX CRUDE JAN4 92.20 -0.10 92.08 92.43 2040 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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