29/10/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.

FUNDAMENTALS
* Malaysian palm oil futures rose to a near-three-week high on Tuesday on a bout of technical buying, traders said, while plans to increase the use of palm oil in biodiesel by the world's No.2 grower received a lukewarm response from market players. * U.S. soybean and corn futures surged to multi-month highs during a short-covering rally on Tuesday but trimmed their gains after the elevated prices sparked a round of selling by farmers. * Crude oil prices closed higher on Tuesday, with Brent finishing just above $86 a barrel after two straight days of losses, helped by a weaker dollar and a rally on Wall Street.

MARKET NEWS
* Global equity markets rallied and bond prices eased on Tuesday on solid corporate earnings on both sides of the Atlantic and an upbeat U.S. consumer confidence report that more than made up for weak American housing and industrial data.

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DATA/EVENTS
> Kuala Lumpur Palm Oil Trade Fair and Seminar (POTS) in Shangri La Hotel Kuala Lumpur, Oct. 28-29.
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's October palm oil exports on Oct. 31.