VEGOILS-Palm falls to one-week low, tracking rival oils

* Palm sees second straight day of declines

* Market seen further declining in July - trader

* Palm may test support at 2,441 rgt/T - technicals

(Updates with closing prices)

By Emily Chow

KUALA LUMPUR, June 21 (Reuters) - Malaysian palm oil futures

fell to their lowest in a week on Wednesday, their sharpest

daily fall in a week, tracking related oils on the Chicago Board

of Trade (CBOT) and China's Dalian Commodity Exchange.

The benchmark palm oil contract for September delivery

on the Bursa Malaysia Derivatives Exchange fell 1

percent to 2,442 ringgit ($569.76) a tonne at the close of

trade, charting a second consecutive day of declines.

It earlier fell to 2,430 ringgit, its lowest since June 14.

Traded volumes stood at 50,738 lots of 25 tonnes.

"Palm fell in light of the plunge in soybean oil overnight,"

said a futures trader in Kuala Lumpur, referring to the sharp

2.4 percent decline in soyoil futures on the CBOT on Tuesday.

Related edible oils on Dalian also weighed on palm prices,

which are seen declining further in July, another trader added.

"After the Eid-al-Fitr holidays, we should see production

picking up, demand slowing down and stocks building up," he

said, referring to the Muslim festival which marks the end of

the fasting month of Ramadan.

Both Eid and Ramadan, which fall in June this year, see

higher uptake of palm oil for cooking purposes, as Muslims break

day-long fasts with communal feasting.

Palm oil exports typically drop after Ramadan, as buyers

stock up on palm oil supplies a month before festivities begin.

Shipments for the June 1-20 period fell 14-16 percent versus

the corresponding period last month, according to data from two

cargo surveyors on Tuesday.

Palm oil may test support at 2,441 ringgit per tonne, a

break below which could cause a further loss to the next support

at 2,421 ringgit, according to Wang Tao, a Reuters market

analyst for commodities and energy technicals.

In other related oils, soybean oil on the Chicago

Board of Trade was flat, while the September soybean oil on the

Dalian Commodity Exchange lost 0.9 percent.

The September palm olein contract fell 2 percent.

Palm oil prices are impacted by the movements of related

edible oils such as soyoil, as they compete for a share in the

global vegetable oils market.

Palm, soy and crude oil prices at 1109 GMT

Contract Month Last Change Low High Volume

MY PALM OIL JUL7 2590 -16.00 2581 2596 712

MY PALM OIL AUG7 2485 -17.00 2464 2490 7352

MY PALM OIL SEP7 2441 -24.00 2430 2450 18486

CHINA PALM SEP7 5208 -106.00 5188 5260 452188

OLEIN

CHINA SOYOIL SEP7 5814 -52.00 5770 5828 392304

CBOT SOY OIL JUL7 32.02 +0.00 31.97 32.17 4918

INDIA PALM OIL JUN7 482.80 +1.00 481.50 484.5 891

INDIA SOYOIL JUL7 625.9 -2.15 625.5 629.85 15390

NYMEX CRUDE AUG7 43.52 +0.01 43.03 43.61 146536

Palm oil prices in Malaysian ringgit per tonne

CBOT soy oil in U.S. cents per pound

Dalian soy oil and RBD palm olein in Chinese yuan per tonne

India soy oil in Indian rupee per 10 kg

Crude in U.S. dollars per barrel

($1 = 4.2860 ringgit)

($1 = 64.4950 Indian rupees)

($1 = 6.8249 Chinese yuan)

(Reporting by Emily Chow; Editing by Sunil Nair and David

Evans)