08/06/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday June 8.

FUNDAMENTALS

* Malaysian palm oil futures fell for a second consecutive session to a one-week low on Tuesday, under pressure from a stronger ringgit which triggered technical selling.

* Chicago Board of Trade soybean futures rose on Tuesday, supported by concerns about a La Nina weather pattern hindering crop development in the U.S. Midwest this summer with hot temperatures and dry conditions, traders said.

* Oil prices jumped more than 1 percent on Tuesday, hitting 2016 highs, with U.S. crude settling above $50 a barrel the first time in almost a year, on expectations of domestic stockpile draws and worries about global supply shortfalls from attacks on Nigeria's oil industry.

MARKET NEWS

* Stocks gained broadly on Tuesday, helped by buoyant oil prices, a day after Federal Reserve Chair Janet Yellen pushed back expectations for an interest rate increase without raising concerns over the strength of the world's largest economy.   

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DATA/EVENTS

Cargo surveyor ITS releases Malaysia's June 1-10 palm oil export data on June 10.

Cargo surveyor SGS releases Malaysia's June 1-10 palm oil export data on June 10.