30/05/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.

FUNDAMENTALS

* Malaysian palm oil futures fell at closing trade on Friday evening, weighed down by a stronger ringgit which triggered some selling, but recorded its first weekly gain in three on expectations of lower-than-expected output and steady Ramadan demand. POI/

* Chicago Board of Trade corn futures rose about 1 percent on Friday to the highest level in 10 months on strong export demand and short-covering ahead of a long U.S. holiday weekend, traders said. GRA/

* Oil prices dipped for a second day in a row on Friday as some investors took profit on a surge to seven-month highs while others worried about higher production with the market hovering near $50 a barrel. O/R

MARKET NEWS

* The U.S. dollar index hit a two-month high and U.S. bond prices fell on Friday after Federal Reserve Chair Janet Yellen said a U.S. interest rate hike will likely be appropriate in the coming months. MKTS/GLOB

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> European vegoils-Palm oil eases on technical selling in futures GRAINS-Soy set for longest run of weekly gains in 7 years

> Argentine soy harvest going well due to dry weather -Grain Exchange

> Cargo surveyor ITS releases Malaysia's May 1-30 palm oil export data on May 30.

> Cargo surveyor SGS releases Malaysia's May 1-30 palm oil export data on May 30.

Palm, soy and crude oil prices at 0020 GMT Contract