By Dewi Kurniawati

JAKARTA, Nov 5 (Reuters) -Malaysian palm oil futures opened lower on Tuesday after four consecutive sessions of gains, weighed down by weaker Dalian soyoil prices and a stronger ringgit.

The benchmark palm oil contract FCPOc3 for January delivery on the Bursa Malaysia Derivatives Exchange lost 23 ringgit, or 0.47%, to 4,868 ringgit ($1,115.23) a metric ton in early trade.

FUNDAMENTALS

* Dalian's most-active soyoil contract DBYcv1 fell 0.18%, while its palm oil contract DCPcv1 gained 0.35%. Soyoil prices on the Chicago Board of Trade BOcv1 were up 0.24%.

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

* The ringgit MYR=, palm's currency of trade, strengthened 0.11% against the U.S. dollar, making the vegetable oil more expensive for buyers holding foreign currencies

* Oil prices eased as markets braced for uncertainties from the U.S. presidential election, after rising more than 2% in the past session as OPEC+ delayed plans to hike production in December and eased supply concerns. O/R

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

* Estimates by cargo surveyors showed exports of Malaysian palm oil products rose between 11.5% and 13.7% in October, compared with a month earlier.

* Indonesia raised its crude palm oil reference price for November to $961.97 per metric ton from $893.64 in October, a trade ministry official told Reuters. The new price will put the export tax for November at $124 per ton.

* Palm oil FCPOc3 may retrace into a range of 4,747 ringgit to 4,791 ringgit per metric ton, following its failure to break resistance at 4,883 ringgit, according to Reuters' technical analyst Wang Tao. TECH/C

MARKET NEWS

* Stock markets moved sideways and an uneasy calm settled over currencies and bonds as investors waited for the United States to choose a new leader with polls showing the contest on a knife edge.MKTS/GLOB

DATA/EVENTS

0930 UK S&P Global PMI: Composite - Output Oct

0930 UK Reserve Assets Total Oct

1330 US International Trade $ Sept

1445 US S&P Global Comp Final PMI Oct

1445 US S&P Global Svcs PMI Final Oct

1500 US ISM N-Mfg PMI Oct

($1 = 4.3650 ringgit)

Reporting by Dewi Kurniawati; Editing by Subhranshu Sahu

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