KUALA LUMPUR, July 30 (Reuters) - Malaysian palm oil futures inched higher on Wednesday, tracking stronger rival Dalian oils and crude oil prices, though weaker Chicago soyoil capped the gains.

The benchmark palm oil contract FCPOc3 for October delivery on the Bursa Malaysia Derivatives Exchange gained 17 ringgit, or 0.4%, to 4,271 ringgit ($1,008.98) a metric ton in early trade. The contract rose 0.28% in the previous session.

FUNDAMENTALS

* Dalian's most-active soyoil contract DBYcv1 rose 0.83%, while its palm oil contract DCPcv1 added 0.52%. Soyoil prices on the Chicago Board of Trade BOcv1 were down 0.19%.

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

* Oil prices ticked up in early trading after rising more than 3% in the previous session as potential supply shortages came into focus after U.S. President Donald Trump gave Moscow an abbreviated deadline toward ending the war in Ukraine. O/R

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

* European Union soybean imports for the 2025/26 season that began in July reached 736,447 million metric tons by July 27, down 37% from the same period a year earlier while palm oil imports fell by 53% to 118,863 million tons, the European Commission data showed.

* Indian importers have bought a record 150,000 metric tons of soyoil from China in rare purchases, as a supply glut prompted Chinese crushers to sell at a discount to India's traditional suppliers from South America, four trade sources said.

* The ringgit MYR=, palm's currency of trade, weakened 0.05% against the dollar, making the commodity slightly cheaper for buyers holding foreign currencies.

MARKET NEWS

* Asian stocks rose modestly on Wednesday, with investors cautious after trade talks between the U.S. and China ended without any substantive agreement and ahead of the Federal Reserve's policy announcement. MKTS/GLOB

DATA/EVENTS

0530 France GDP Preliminary QQ Q2

0800 Germany GDP Flash QQ SA, YY NSA Q2

0900 EU GDP Flash Prelim QQ, YY Q2

0900 EU Consumer Confid. Final July

1230 US GDP Advance Q2

($1 = 4.2330 ringgit)

(Reporting by Ashley Tang; Editing by Janane Venkatraman)

((ashley.tang@thomsonreuters.com;))

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