SINGAPORE, May 30 (Reuters) - Malaysian palm oil futures extended losses for a second straight session on Tuesday, tracking weakness in rival edible oils.

The benchmark palm oil contract FCPOc3 for August delivery on the Bursa Malaysia Derivatives Exchange fell 0.93% to 3,509 ringgit ($791.21) per tonne in morning trade.

FUNDAMENTALS

* Crude palm oil production in Malaysia, the world's second-largest producer, could drop between 1 and 3 million tonnes next year due to the El Nino weather pattern, the Malaysian Palm Oil Board said last Thursday.

* Malaysia's exports during May 1-25 fell 0.7% from the same period in April, cargo surveyor Intertek Testing Services said on Friday. Another cargo surveyor, AmSpec Agri Malaysia, said exports rose 0.7%.

* Dalian's most-active soyoil contract DBYcv1 dipped 1.0%, while its palm oil contract DCPcv1 was down 0.9%. Soyoil prices on the Chicago Board of Trade BOcv1fell 0.1%.

* Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.

* Palm oil FCPOc3 may retest support at 3,498 ringgit per tonne, as it failed twice to break a resistance at 3,563 ringgit, said Reuters technical analyst Wang Tao. TECH/C

MARKET NEWS

* Asian markets were trading mostly in positive territory on Tuesday as investors applauded the prospect the U.S. will avert a major debt default by June 5 which improved sentiment across most major asset classes. MKTS/GLOB

DATA/EVENTS (GMT)

0900 EU Consumer Confid. Final May

1400 US Consumer Confidence May

($1 = 4.4350 ringgit)

cpo https://tmsnrt.rs/3OQDNol

(Reporting by Carman Chew; Editing by Sohini Goswami)

((carman.chew@thomsonreuters.com; +6582011860))

https://www.nasdaq.com/articles/vegoils-palm-slides-for-second-day-tracking-weaker-edible-oils