03/06/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.

FUNDAMENTALS

* Malaysian palm oil futures pared losses from the previous session to rise on Thursday, tracking competing vegetable oils and helped by a weaker ringgit MYR=.

* U.S. soybean futures soared to their highest in nearly two years on Thursday on hopes that export demand will rise amid concerns about the quality of the crop being harvested in Argentina.

* Oil prices edged higher on Thursday, with Brent settling above $50 a barrel the first time in seven months, after the latest drawdown in U.S. crude stockpiles offset OPEC's failure to set a ceiling for its output.

MARKET NEWS

* The euro declined on Thursday on the European Central Bank's cautious economic outlook, while oil prices recovered on a drop in U.S. crude inventories, erasing losses on OPEC's failure to reach a deal to set an output ceiling.

RELATED

> Argentine soy harvest could be hit by more heavy rains -Grain Exchange

> European feeds-Soymeal rallies on S.American supply worries

> European vegoils-Palm oil firmer on soy supply woes

> GRAINS-U.S. soybeans surge to near two-year highs; corn, wheat firm

> World food markets set for a stable year as prices firm - FAO

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.

Palm, soy and crude oil prices at 0008 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 5370 +106.00 5320 5374 287648

CHINA SOYOIL SEP6 6062 +98.00 6022 6064 217778

CBOT SOY OIL JUL6 32.16 +3.30 32.13 32.26 349

INDIA PALM OIL JUN6 534.50 +3.30 528.60 534.6 1301

INDIA SOYOIL JUN6 651.9 +2.65 648.2 651.9 40330

NYMEX CRUDE JUL6 49.06 -0.11 48.98 49.11 3167

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