By Dewi Kurniawati

JAKARTA, July 3 (Reuters) -Malaysian palm oil futures opened down on Wednesday, snapping five consecutive session of gains, tracking losses in Soyoil prices on the Chicago Board of Trade (CBOT) market.

The benchmark palm oil contract FCPOc3 for September delivery on the Bursa Malaysia Derivatives Exchange lost 57 ringgit, or 1.39%, to 4,032 ringgit ($854.60) a metric ton in early trade.

FUNDAMENTALS

* Dalian's most-active soyoil contract DBYcv1 rose 0.70%, while its palm oil contract DCPcv1 gained 0.18%. Soyoil prices on the Chicago Board of Trade BOcv1 were down 0.58%.

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

* India's palm oil imports rose by 3% in June from the previous month to reach the highest level in six months on robust demand from refiners for upcoming festivals and as the oil traded at a discount to rival oils.

* Cargo surveyor Societe Generale de Surveillance (SGS) estimates exports of Malaysian palm oil products for June at 1,202,864 metric tons, up from 1,161,370 metric tons shipped during May.

* AmSpec Agri estimated the exports fell 15.4% to 1,188,180 tons.

* Oil prices edged higher in early Asian trade on Wednesday after industry data showed a bigger-than-expected draw in U.S. crude stockpiles, boosting hopes of solid fuel demand during the summer driving season in the top oil consuming nation.O/R

* Higher crude oil futures make palm a more attractive option for biodiesel feedstock.

* Palm oil FCPOc3 may retrace into a range of 3,989-4,027 ringgit per metric ton, following its failure to break resistance at 4,105 ringgit, according to Reuters' technical analyst Wang Tao.TECH/C

MARKET NEWS

* Global stocks edged higher while U.S. Treasury yields dipped on Tuesday as markets weighed data showing a persistently tight labour market, and prospects of interest rate cuts after comments from Federal Reserve Chair Jerome Powell.MKTS/GLOB

DATA/EVENTS

0145 China Caixin Services PMI June

0750 France HCOB Serv, Comp PMIs June

0755 Germany HCOB Services PMI June

0755 Germany HCOB Comp Final PMI June

0800 EU HCOB Serv, Comp Final PMIs June

0830 UK S&P Global PMI: Comp - Output June

0830 UK Reserve Assets Total June

1230 US International Trade May

1230 US Initial Jobless Clm Weekly

1345 US S&P Global Comp, Svcs Final PMis June

1400 US Factory Orders MM May

1400 US ISM N-Mfg PMI June

1800 US Federal Open Market Committee issues minutes

from its meeting of June 11-12

($1 = 4.7180 ringgit)

Reporting by Dewi Kurniawati; Editing by Janane Venkatraman

For a table on Malaysian physical palm oil prices, including refined oil, Reuters Terminal users can double click on or type OILS/MY01. * To view freight rates from Peninsula Malaysia/Sumatra to China, India, Pakistan and Rotterdam, please key in OILS/ASIA2 and press enter, or double click between the brackets. * Reuters Terminal users can see cash and futures edible oil prices by double clicking on the codes in the brackets: To go to the next page in the same chain, hit F12. To go back, hit F11. Vegetable oils OILS/ASIA1 Malaysian palm oil exports SGSPALM1 CBOT soyoil futures 0#BO: CBOT soybean futures 0#S: Indian solvent SOLVENT01 Dalian Commodity Exchange DC/MENU Dalian soyoil futures 0#DBY: Dalian refined palm oil futures 0#DCP: Zhengzhou rapeseed oil 0#COI: European edible oil prices/trades OILS/E