* Mkt oversold, going for retracement - trader
* June exports fall 9-11 pct on month - cargo surveyors
* Palm declines 13.7 pct in April-June

(Updates latest prices, quote)

30/06/2016 (Reuters) - Malaysian palm oil futures bounced back from early losses to close 1.3 percent higher on Thursday, as the market recovered from an oversold state, while gains in soy also boosted sentiment.

Palm lost 10.2 percent in June on weak fundamentals, as traders expect seasonal output to rise from now until the final quarter of the year, while exports are also seen slowing down until the next major festive season of Diwali in late October.

Benchmark palm oil futures for September delivery on the Bursa Malaysia Derivatives Exchange closed 1.3 percent higher at 2,353 ringgit ($584.60) per tonne on Thursday.

The contract hit a seven-month low of 2,317 ringgit on Wednesday and posted its fourth straight weekly fall. Palm lost 13.7 percent this quarter, its first quarterly drop since the January-March period of 2015 and the biggest since the three months ended September 2012.

Traded volumes stood at 50,864 lots of 25 tonnes each on Thursday.

"The market was oversold and is now going for a retracement," said a trader from Kuala Lumpur.

"It was also up on external markets, Chicago Board of Trade soyoil and Dalian refined, bleached and deodorized palm olien." Malaysian palm oil shipments fell 9-11 percent in June from a month earlier, data released by cargo surveyors on Thursday showed, as demand for the tropical oil weakened after Ramadan.

Palm oil usage for cooking typically rises in the month leading up to the holy festival, which sees Muslims worldwide breaking day-long fasts with communal feasting.

The most actively traded September contract for palm olein on the Dalian Commodity exchange rose 0.8 percent.

The Chicago Board of Trade soyoil contract for December gained 1.3 percent and the September soybean oil contract on China's Dalian Commodity Exchange rose 1.2 percent.

Palm, soy and crude oil prices at 1053 GMT

Contract Month Last Change Low High Volume

MY PALM OIL JUL6 2400 +17.00 2384 2415 117

MY PALM OIL AUG6 2375 +20.00 2350 2405 5714

MY PALM OIL SEP6 2353 +30.00 2319 2379 26205

CHINA PALM OLEIN SEP6 5230 +42.00 5118 5244 897430

CHINA SOYOIL SEP6 6162 +72.00 6042 6166 577512

CBOT SOY OIL DEC6 31.86 +0.47 31.4 32.05 9397

INDIA PALM OIL JUN6 506.80 +1.10 506.30 507.2 322

INDIA SOYOIL JUL6 640.7 +1.60 639.3 643 13100

NYMEX CRUDE AUG6 49.45 -0.43 49.11 49.62 69558

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

($1 = 4.0250 ringgit)
($1 = 67.5250 Indian rupees)
($1 = 6.6415 Chinese yuan)