KUALA LUMPUR, Nov 1 (Reuters) -Malaysian palm oil futures rose on Friday after the market reopened following a holiday, buoyed by strength in rival oils and crude prices, while a firmer ringgit capped the rise.

The benchmark palm oil contract FCPOc3 for January delivery on the Bursa Malaysia Derivatives Exchange gained 67 ringgit, or 1.43%, to 4,763 ringgit ($1,089.68) a metric ton in the early trade.

The contract is so far up 3.53% this week, on track for its second consecutive weekly gain.

FUNDAMENTALS

* Dalian's most-active soyoil contract DBYcv1 rose 1.42%, while its palm oil contract DCPcv1 added 1.7%. Soyoil prices on the Chicago Board of Trade BOcv1 were up 1.62%.

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

* Oil prices extended gains, climbing more than $1 a barrel to pare weekly losses, as geopolitical tensions in the Middle East rose following reports that Iran was preparing a retaliatory strike on Israel from Iraq in the coming days. O/R

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

* The ringgit MYR=, palm's currency of trade, strengthened 0.09% 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 11.5% in October, while AmSpec Agri Malaysia's data is due later in the day.

* 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.

MARKET NEWS

* Asian markets started a likely momentous month on the cautious side, with shares mostly lower and Treasury yields near three-month highs on Friday, while investors wait for U.S. payrolls data, although a rate cut next week is largely baked in. MKTS/GLOB

DATA/EVENTS

0700 UK Nationwide House Price MM Oct

0700 UK Nationwide House Price YY Oct

0930 UK S&P Global Manufacturing PMI Oct

1230 US Non-Farm Payrolls Oct

1230 US Unemployment Rate Oct

1230 US Average Earnings YY Oct

1345 US S&P Global Mfg PMI Final Oct

1400 US ISM Manufacturing PMI Oct

($1=4.3710 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