VEGOILS-Palm oil snaps four-day rally on weaker rival soyoil and crude

JAKARTA, June 24 (Reuters) - Malaysian palm oil futures snapped a four-session rally on Tuesday, weighed down by rival soyoil at the Dalian and Chicago markets and the fall of crude prices.

The benchmark palm oil contract FCPOc3 for September delivery on the Bursa Malaysia Derivatives Exchange lost 84 ringgit, or 2.04%, to 4,042 ringgit ($950.39) a metric ton in early trade.

FUNDAMENTALS

* Dalian's most-active soyoil contract DBYcv1 fell 1.82%, while its palm oil contract DCPcv1 shed 1.9%. Soyoil prices on the Chicago Board of Trade BOcv1 were down 1.05%.

* Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market.

* Oil prices tumbled to a more than one-week low as U.S. President Donald Trump said a ceasefire has been agreed between Iran and Israel, relieving worries of supply disruption in the area.O/R

* Weaker crude oil futures make palm a less attractive option for biodiesel feedstock.

* Indonesia exported 1.78 million metric tons of palm oil, including refined products, in April, down from 2.18 million tons a year earlier, data from the Indonesia Palm Oil Association (GAPKI) showed.

* India's soyoil imports in June are likely to fall by 18% from a month ago to a four-month low, as congestion at a key port will lead to unloading vessels into July instead of June.

* The ringgit MYR=, palm's currency of trade, strengthened 0.93% against the dollar, making the commodity more expensive for buyers holding foreign currencies.

* Palm oil FCPOc3 may break support of 4,066 ringgit per metric ton, and fall towards 4,017 ringgit, Reuters technical analyst Wang Tao said.TECH/C

MARKET NEWS

* Global shares rallied and the dollar extended declines after Trump said Iran and Israel had agreed to a ceasefire. MKTS/GLOB

DATA/EVENTS

0500 Japan Chain Store Sales YY May

0800 Germany Ifo Business Climate, Curr Conditions, Expectations New Jun

1400 US Consumer Confidence Jun

($1 = 4.2530 ringgit)

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