01/06/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.

FUNDAMENTALS

* Malaysian palm oil futures reversed early losses on Tuesday to close higher on the back of a weaker ringgit and a government announcement on raising biodiesel mandates.

* U.S. wheat futures sank 3.2 percent on Tuesday, on track for their biggest daily decline in four weeks as forecasts called for improving harvest conditions for the winter crop good weather for spring wheat development.

* Oil prices dipped on Tuesday as a stronger dollar and slide in equity prices sparked profit-taking, but crude futures posted a fourth straight monthly gain as investors bet that the global glut was slowly easing.

MARKET NEWS

* Asian stocks sagged on Wednesday as a slip in crude oil prices dampened investors' appetite for riskier assets, while the recently bullish dollar stalled against the euro and yen following a mixed bag of U.S. economic data.

RELATED

> U.S. biodiesel output rises to 119 million gallons in March -EIA

> U.S. farmers rush to sell soybeans early as prices rally

> U.S. corn plantings seen 94 pct complete, soy at 70 pct

> Sunny June weather seen speeding up Argentine soy harvest

> Egypt assesses offers for vegoils tender

Palm, soy and crude oil prices at 0042 GMT

Contract Month Last Change Low High Volume

MY PALM OIL JUN6 0 +0.00 0 0 0

MY PALM OIL JUL6 0 +0.00 0 0 0

MY PALM OIL AUG6 0 +0.00 0 0 0

CHINA PALM OLEIN SEP6 5276 +28.00 5224 5292 329868

CHINA SOYOIL SEP6 5946 -8.00 5886 5956 277292

CBOT SOY OIL JUL6 31.79 +1.10 31.78 31.84 790

INDIA PALM OIL JUN6 532.70 +1.10 527.20 533.80 2437

INDIA SOYOIL JUN6 649.40 +1.55 645.30 649.70 30190

NYMEX CRUDE JUL6 48.87 -0.23 48.75 49.00 5728

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