SINGAPORE, Aug 21 (Reuters) -Malaysian palm oil futures recovered on Wednesday, underpinned by firmer rival Dalian and Chicago edible oil contracts, although lacklustre export data and a firmer ringgit curbed gains.

The benchmark palm oil contract FCPOc3 for November delivery on the Bursa Malaysia Derivatives Exchange rose 21 ringgit, or 0.57%, to 3,736 ringgit ($854.14) a metric ton as of 0245 GMT.

FUNDAMENTALS

* Dalian's most-active soyoil contract DBYcv1 ticked up 0.33%, while its palm oil contract DCPcv1 climbed 0.79%. Soyoil prices on the Chicago Board of Trade BOcv1 gained 0.41%.

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

* Exports of Malaysian palm oil products were 866,641 metric tonnes for Aug. 1-20, down 18.4% from July 1-20, cargo surveyor Intertek Testing Services said on Tuesday.

* Exports dropped 16.7% to 834,948 tonnes over the same period, according to data from independent inspection company AmSpec Agri Malaysia on Tuesday.

* The Malaysian ringgit MYR=, palm's currency of trade, strengthened 0.08% against the dollar, after touching its highest since February 2023 on Tuesday. A stronger ringgit makes palm oil less attractive for foreign currency holders.

* Oil prices slipped on estimates showing swelling U.S. crude inventories and expectations that tensions in the Middle East were easing following a tour of the region by mediators. O/R

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

* Palm oil may retest a resistance zone of 3,745-3,764 ringgit, a break above which could confirm both a target of 3,809 ringgit and an inverted head-and-shoulders, said Reuters technical analyst Wang Tao. TECH/C

MARKET NEWS

* Asian shares slipped as a stellar rebound in world stocks paused for breath, while bond yields and the dollar fell ahead of U.S. economic data and speeches from policymakers that are expected to make the case for interest rate cuts. MKTS/GLOB

($1 = 4.3740 ringgit)

Reporting by Gabrielle Ng; Editing by Savio D'Souza

For a table on Malaysian physical palm oil prices, including refined oil, Reuters Terminal users can double click on or type OILS/MY01.
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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