31/03/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.

FUNDAMENTALS

* Malaysian palm oil futures snapped two sessions of gains on Thursday, hitting their lowest in more than five months, dragged down by weaker-performing rival soyoil on the Chicago Board of Trade (CBOT) and China's Dalian Commodity Exchange.

* U.S. soybean futures fell to a five-month low on Thursday while corn and wheat weakened as traders adjusted positions ahead of U.S. Department of Agriculture data that was expected to show abundant supplies of each crop.

* Oil prices jumped for a third day on Thursday to their highest in three weeks after Kuwait backed an extension of OPEC production cuts to reduce a global glut.

MARKET NEWS

* Equities in world markets edged higher on Thursday, led by gains on Wall Street after an upward revision to U.S. economic growth, while U.S. crude oil rose to trade above $50 per barrel for the first time in three weeks.

RELATED

> Tofu trailblazer: Soymeal leads China charge into commodities derivatives

> Brazil soy crop view raised to record 113.3 mln tonnes after tour

> EU 2016/17 soybean imports down 7 pct, palm oil down 18 pct

> Egypt studies raising food subsidies by 29 pct - finance ministry sources

> IGC sees lower grains output for 2017/2018, fall in stocks

DATA/EVENTS

> Cargo surveyor ITS releases Malaysia’s Mar 1-31 palm oil export data on Mar 31.

> Cargo surveyor SGS releases Malaysia’s Mar 1-31 palm oil export data on Mar 31.