15/07/2015 (Reuters) - Malaysian palm oil futures rose for the fourth consecutive session on short-covering ahead of holidays and strength in Chicago soybean futures.

Chicago soybeans futures climbed 0.55 percent as U.S. crop conditions deteriorated slightly.

The September palm oil contract on the Bursa Malaysia Derivatives exchange rose 0.14 percent, or 3 ringgit, to 2,204 ringgit a tonne by the close.

Traded volume stood at 18,773 lots of 25 tonnes each, higher than usual. Trading is expected to slow this week ahead of Eid al-Fitr, the holiday at the end of the Muslim fasting month.

"There is massive short-covering going on ahead of Eid holidays," said one Kuala Lumpur-based broker. "Most mills will be closed for seven days. In addition, there is borrowed strength from CBOT as speculative hedge funds are turning bullish on corn and soybean futures."

U.S. August soyoil, however, fell 0.37 percent, while the most-active soybean oil contract on the Dalian Commodity Exchange gained 1.27 percent.

Still, the palm oil rally could face resistance due to slowing demand and rising production.

Exports of Malaysian palm oil products for July 1-10 fell 34.7 percent to 308,875 tonnes, from 473,307 tonnes shipped during June. 1-10, cargo surveyor Societe Generale de Surveillance said.

Data from cargo surveyor Intertek Testing Services earlier showed a 32.5 percent decline in exports during July 1-10 compared with a month earlier.

Oil prices tumbled more than $1 on Tuesday after Iran and six global powers reached a landmark nuclear deal that would see an easing of sanctions against Tehran and a gradual increase in its oil exports.

Palm oil futures often take the lead from energy markets because of increasing use of tropical oil in making renewable fuels.

Palm, soy and crude oil prices at 1114 GMT

 Contract        Month    Last   Change     Low    High  Volume

 MY PALM OIL      JUL5       0    +6.00       0       0       0

 MY PALM OIL      AUG5    2204    +6.00    2201    2225    1955

 MY PALM OIL      SEP5    2204    +3.00    2200    2230   18773

 CHINA PALM OLEIN JAN6    4934   +64.00    4842    5004  891122

 CHINA SOYOIL     JAN6    5728   +72.00    5604    5774  758096

 CBOT SOY OIL     DEC5   33.06    +0.00   33.00   33.41    8474

 INDIA PALM OIL   JUL5  433.00    +0.00  432.50  435.20     551

 INDIA SOYOIL     AUG5  582.90    -0.70  582.30  586.50   33865

 NYMEX CRUDE      AUG5   51.16    -1.04   50.38   52.55   51479

 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