KUALA LUMPUR, Oct 21 (Reuters) -Malaysian palm oil futures rose on Monday, after two sessions of decline, supported by stronger crude oil and Chicago soyoil.

The benchmark palm oil contract FCPOc3 for January delivery on the Bursa Malaysia Derivatives Exchange gained 37 ringgit, or 0.82%, to 4,290 ringgit ($998.37) a metric ton in early trade.

The contract fell 1.3% in two consecutive sessions.

FUNDAMENTALS

* Dalian's most-active soyoil contract DBYcv1 fell 0.56%, while its palm oil contract DCPcv1 shed 0.74%. Soyoil prices on the Chicago Board of Trade BOcv1 were up 0.57%.

* Palm oil tracks prices of rival edible oils as they compete for a share of the global vegetable oils market.

* Oil prices steadied in early trading, following a more than 7% drop last week on demand worries in China, the world's top oil importer, and an easing of concerns over potential supply disruptions in the Middle East. O/R

* Brent crude futures LCOc1 for December were up 0.25% at $73.24 a barrel, as of 0242 GMT. Stronger crude oil futures make palm a more attractive option for biodiesel feedstock.

* The ringgit MYR=, palm's currency of trade, strengthened 0.12% against the U.S. dollar, making the commodity more expensive for buyers holding foreign currencies.

* Cargo surveyor Intertek Testing Services estimated that exports of Malaysian palm oil products rose 8.7% during Oct. 1-20, while AmSpec Agri Malaysia's data is expected later in the day.

* Malaysia plans to raise the threshold for a windfall profit levy (WPL) on palm oil and will revise the export duty for crude palm oil, Prime Minister Anwar Ibrahim said.

* A higher WPL will reduce the pressure of the increase in the cost of palm oil production, the Malaysian Palm Oil Board said, according to state news agency Bernama, while export tax adjustments will help the palm oil refining industry get similar advantages compared to Indonesia in the downstream segment, Glenauk Economics said.

MARKET NEWS

* Asia shares dipped in and out of positive territory on Monday, under pressure from weakness in Chinese stocks, but bitcoin BTC= scaled a three-month peak as "Trump trades" continued to ramp up. MKTS/GLOB

DATA/EVENTS

0600 Germany Producer Prices MM, YY Sept

n/a UK House Price Rightmove MM, YY Oct

($1 = 4.2970 ringgit)

Reporting by Ashley Tang; Editing by Sumana Nandy

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