21/03/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.

FUNDAMENTALS

* Malaysian palm oil futures rose to their highest in nearly two years with dry weather expected to limit output, resulting in falling inventories in Malaysia and as competing vegetable oils moved higher.

* U.S. wheat futures edged higher on Friday, snapping a three-day losing streak on some end-of-week short-covering, traders said.

* Crude oil slid for a second session on Monday, falling further from last week's 2016 highs on concerns over a supply glut after the U.S rig count rose for the first time since December.

MARKET NEWS

* The S&P 500 closed in positive territory for the year for the first time in 2016, leading a gauge of stocks across major markets to a fifth week of gains, its longest weekly run in more than two years.

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DATA/EVENTS

> Cargo surveyor ITS releases Malaysia's March 1-20 palm oil export data on March 21.
> Cargo surveyor SGS releases Malaysia's March 1-20 palm oil export data on March 21.

Palm, soy and crude oil prices at 0053 GMT

Contract Month Last Change Low High Volume

MY PALM OIL APR6 0 +0.00 0 0 0

MY PALM OIL MAY6 0 +0.00 0 0 0

MY PALM OIL JUN6 0 +0.00 0 0 0

CHINA PALM OLEIN SEP6 5348 -4.00 5322 5362 246288

CHINA SOYOIL SEP6 6012 -16.00 5990 6038 241758

CBOT SOY OIL MAY6 33.19 -7.60 33.15 33.28 1385

INDIA PALM OIL MAR6 512.80 -7.60 512.20 521.7 2488

INDIA SOYOIL APR6 625.3 -4.50 624.6 631.4 72050

NYMEX CRUDE APR6 38.98 -0.46 38.96 39.28 457

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
India soy oil in Indian rupee per 10 kg
Crude in U.S. dollars per barrel