* Malaysia May palm oil stocks seen near 1-year low - Reuters survey * Palm oil to rise towards 2,420 ringgit - technicals * Total volumes thin at 19,990 lots, vs usual 35,000 lots (Updates with closing price, adds quote) By Chew Yee Kiat SINGAPORE, June 5 (Reuters) - Malaysian palm oil futures ended higher on Wednesday, pulling away from an earlier near two-week low, as investors turned more optimistic on stocks data due early next week. Palm oil stocks in May could have eased to a near one-year low at 1.78 million tonnes, a Reuters survey of five plantation companies showed on Wednesday. The Malaysian Palm Oil Board, the official regulator, will release official stocks data on Monday. "We expect lower stocks for the month, that's definitely supportive. But we will see how long this rally will last before the official data comes out," said a trader with a foreign commodities brokerage in Kuala Lumpur. The benchmark August contract on the Bursa Malaysia Derivatives Exchange gained 1.1 percent to close at 2,401 ($779) ringgit per tonne. Prices fell to 2,364 ringgit in the morning session, a level last seen on May 23. Total traded volumes were low at 19,990 lots of 25 tonnes each, compared with the usual 35,000 lots. Technicals showed palm oil has found support at 2,365 ringgit per tonne, and may rise towards its May 29 high of 2,420 ringgit, said Reuters market analyst Wang Tao. Traders are also looking out for Malaysia's palm exports data for the June 1-10 period due on Monday. Shipments could inch higher during the period as restocking demand picks up from India and Pakistan ahead of Ramadan in July. During the holy festival, Muslims gather for communal feast to break their fast, which typically drives up edible oil consumption. In other markets, Brent crude rose towards $104 a barrel on Wednesday after South Korea's sweetened incentives for non-Middle East crude oil imports heightened demand prospects, and fuel stockpiles in the United States declined sharply. In vegetable oil markets, U.S. soyoil for July was almost flat in late Asian trade. The most-active September soybean oil contract on the Dalian Commodities Exchange edged 0.3 percent lower. Palm, soy and crude oil prices at 1004 GMT Contract Month Last Change Low High Volume MY PALM OIL JUN3 2363 +23.00 2334 2363 25 MY PALM OIL JUL3 2391 +25.00 2358 2397 1487 MY PALM OIL AUG3 2401 +26.00 2364 2406 12061 CHINA PALMOLEIN SEP3 6090 -32.00 6064 6124 335878 CHINA SOYOIL SEP3 7408 -20.00 7386 7452 647776 CBOT SOY OIL JUL3 48.59 +0.00 48.37 48.64 4196 NYMEX CRUDE JUL3 93.69 +0.38 93.41 93.98 15660 Palm oil prices in Malaysian ringgit per tonne CBOT soy oil in U.S. cents per pound Dalian soy oil and RBD palmolein in Chinese yuan per tonne Crude in U.S. dollars per barrel

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