Breaking News-RTRS-Palm seen at 2,625 rgt/T by April on $75/bbl crude -Fry

RTRS-MALAYSIAN PALM OIL PRICES WILL HIT 2,625 RGT/T BY APRIL IF BRENT CRUDE STEADIES AT $75 A BARREL -ANALYST FRY
RTRS-PALM OIL PRICES WILL MOVE TO 2,350 RGT/T BY APRIL IF BRENT CRUDE DROPS TO $65 -FRY
RTRS-Palm seen at 2,625 rgt/T by April on $75/bbl crude -Fry

Trader's highlight

DJI-NEW YORK, Nov 6 (Reuters) - U.S. stocks rose 3 percent for the week after ending Friday's session slightly higher, shrugging off government data showing the unemployment rate hit 10.2 percent -- the highest in 26-1/2 years.

The Dow Jones industrial average <.DJI> gained 17.46 points, or 0.17 percent, to end at 10,023.42. The Standard & Poor's 500 Index <.SPX> rose 2.67 points, or 0.25 percent, to 1,069.30. The Nasdaq Composite Index <.IXIC> added 7.12 points, or 0.34 percent, to close at 2,112.44.

NYMEX-NEW YORK, Nov 6 (Reuters) - U.S. crude futures finished nearly 3 percent lower on Friday, after government data showing the unemployment rate at its highest in 26-1/2 years sparked more worries about petroleum demand.

Losses deepened from Thursday, when oil futures fell in a delayed reaction to midweek's government inventory data showing U.S. total oil product demand over the past four weeks was down 4.5 percent from a year ago.

On the New York Mercantile Exchange, crude for December delivery settled down $2.19, or 2.75 percent, at $77.43 a barrel, after trading from $76.71 to $80.34. For the week, front-month prices are up 43 cents, or 0.56 percent.

CBOT-SOYBEANS - November down 19 cents at $9.48 a bushel; January down 17 at $9.55. Pressured by good U.S. harvest weather, prospects for a record large U.S. soy crop and lower crude oil.

CBOT-SOYOIL - December down 0.41 cent per lb at 36.77 cents; deferreds down 0.40 to 0.42. Pressured by falling soybeans and lower crude oil.

FCPO-JAKARTA, Nov 6 (Reuters) - Malaysian crude palm oil futures finished flat on Friday, giving up gains of more than one percent as investors liquidated long postions ahead of the weekend, traders said.

The benchmark January palm oil contract on the Bursa Malaysia Derivatives Exchange edged down 1 ringgit, or 0.04 percent, at 2,246 ringgit ($660.59) per tonne, after going as high as 2,275 ringgit, a level not seen since Sept. 2 and a low of 2,230 ringgit. Overall volume was 9,137 lots of 25 tonnes each, lower than the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, Nov 6 (Reuters) - Most major Southeast Asian stock
markets rose on Friday, with solid earnings from DBS, Thai Oil and others providing support in Singapore and Thailand, and blue chips elsewhere coming off recent lows.

Fewer jobless claims in the U.S. and estimate-beating results prompted most markets in the region to rise over 1 percent, with Thailand <.SETI> gaining 2.5 percent and Singapore <.FTSTI> up 1.1 percent, both hitting their highest levels of the week.

In Kuala Lumpur, the index <.KLSE> eked out a small gain of 0.5 percent, with gaming group Genting up 1.4 percent after a top executive said the company was on track to launch a new casino in Singapore by January next year.

FCPO Weekly: Consolidation phase is likely to continue

Consolidation phase is likely to continue in near term despite prices tested the immediate upside resistance at 2250. As for now, we are looking for the immediate upside resistance at 2350. While, downside support is pegged 2130 followed by 2108-2100 (unfilled gap left over since 18/10/2009).

FKLI Weekly: Stayed firm at above 1230 levels

Market looks firm to survive at above 1230 levels. Thus, consolidation phase will likely to continue in near term with upside resistance remains at 1273.5 followed by 1300. While, to the downside, immediate support is stood to 1230 followed by 1200.

Breaking News-RTRS-POLL-Malaysia's Oct palm oil stocks seen at 9-month high

RTRS-MALAYSIA'S END OCT PALM OIL STOCKS SEEN UP 15.3 PCT FROM SEPT AT 1.82 MLN TONNES - REUTERS POLL
RTRS-MALAYSIA'S OCT PALM OIL OUTPUT SEEN UP 16 PCT FROM SEPT - POLL
RTRS-MALAYSIA'S OCT PALM OIL EXPORTS SEEN UP 10.5 PCT FROM SEPT -POLL

DJI Daily: Waiting for a clearer direction

Market manage to hold ground at 9,600 levels and climbed to close at 10,000 resistance mark. However, it was not convincing enough despite prices close with a long white candle. We will wait to see a breakout from the either overhead resistance at 10,200 or the support at 9,600 may provide us a more clearer picture.

Trader's Highlight

DJI-NEW YORK, Nov 4 (Reuters) - U.S. stocks rallied but lost steam on Wednesday after the Federal Reserve said it would keep rates near zero for "an extended period" even as it expressed confidence in the economic recovery.

Stocks pushed higher in the hour following the FOMC statement, after the Fed kept its benchmark federal funds rate unchanged in a range of zero to 0.25 percent.But the market was unable to hold those gains as it succumbed to selling pressure in the last half-hour of trading.

The Dow Jones industrial average <.DJI> gained 30.23 points, or 0.31 percent, to end at 9,802.14, after rising as much as 156.13 points, or 1.6 percent, in the hour after the FOMC statement to touch a session high at 9,928.04. The Standard & Poor's 500 Index <.SPX> edged up 1.09 points, or 0.10 percent, to finish at 1,046.50. But the Nasdaq Composite Index <.IXIC> slipped 1.80 points, or 0.09 percent, to close at 2,055.52.

NYMEX-NEW YORK, Nov 4 (Reuters) - U.S. crude oil futures ended up on Wednesday, though well below the day's highs, buoyed by an optimistic economic outlook from the Federal Reserve and a surprise weekly drawdown in crude inventories.

On the New York Mercantile Exchange, December crude settled up 80 cents, or 1.01 percent, at $80.40 a barrel, trading from $79.12 to $81.06.

CBOT-SOYBEANS - November down 11-1/4 cents at $9.95-1/2 a bushel; deferreds down 6 to 11-1/2.

Prospects for a record U.S. crop and better harvest weather weigh along with increased hedge pressure.

CBOT-SOYOIL - December up 0.02 cent at 37.55 cents per lb; deferreds up 0.03 to down 0.04.

FCPO-KUALA LUMPUR, Nov 4 (Reuters) - Malaysian crude palm oil futures jumped as much as 3.8 percent on Wednesday to hit two-month highs as rising crude oil markets [O/R] boosted global vegetable oil prices.

But underlying palm sentiment was weak due to fears that stock levels in Malaysia and Indonesia were building up, traders said.

The benchmark January palm oil contract on the Bursa Malaysia Derivatives Exchange gained as much as 83 ringgit to 2,273 ringgit ($665) a tonne, a level unseen since Sept. 2, before settling at 2,260 ringgit.

Overall volumes shot up to 17,119 lots of 25 tonnes each from the usual 10,000 lots on speculative trades.

REGIONAL EQUITIES-BANGKOK, Nov 4 (Reuters) - Most Southeast Asian markets rose
on Wednesday, recovering from losses the previous session, with banks and palm oil stocks leading gains in Malaysia, pushing the market to its highest in a week.

Overall trading was light as investors remained cautious before a U.S. Federal Reserve statement on interest rates and the economy later on Wednesday.

Malaysia's index <.KLSE> ended up 0.93 percent, Singapore's index <.FTSTI>, after falling two days in a row, bounced back 1.03 percent, Thai stocks <.SETI> climbed 2.68 percent and Indonesia <.JKSE> edged up 1.62 percent.

Gains in Malaysia were driven by top palm planter Sime Darby , the largest stock on the bourse by market value, which rose 0.7 percent to a one-week high after an upbeat price forecast by industry analyst Oil World. [ID:nL381260]

Malaysian banks rose on hopes that earnings will get a boost next year when the economy recovers, with top lender Maybank up 1.5 percent, number two CIMB adding 0.64 percent and third-ranked Public Bank up 0.93 percent.

Similarly in Singapore, United Overseas Bank rose 1.5 percent, number two Oversea-Chinese Banking Corp gained 1.7 percent and DBS , Southeast Asia's biggest lender, added 0.62 percent.

FCPO Daily: More room to upside potential

A convincing breakout from the 2250 levels has proved to us that bulls won the battle and has giving us a more clearer market direction. Thus, market looks may continue to march higher in near term. As for now, we are looking the upside resistance at 2280-2299 (gap left over on 2/9/2009) followed by 2335-2352 (gap left over on 1/9/2009). Downside support is lies at 2180 followed by 2150-2130 levels.

Breaking News-RTRS-Malaysia scraps Brazilian palm estate plan-sources

KUALA LUMPUR, Nov 3 (Reuters) - Malaysia's state plantation agency has backed off from plans to develop up to 100,000 hectares of oil palms in Brazil, sources with knowledge of the matter told Reuters on Tuesday.
Last year, the Federal Land Development Authority (FELDA) announced a joint venture with a Brazilian planter to grow oil palms near the Amazon river, a move green groups criticised as speeding up deforestation and climate change.
Malaysian and Brazilian sources say FELDA has now abandoned the plan after quietly putting the venture on hold five months ago, a major setback to its aim to become a global commodity player.

Breaking News-RTRS-Oil World cuts Argentine 2010 soy crop forecast

HAMBURG, Nov 3 (Reuters) - German oilseeds analysts Oil World said on Tuesday it has cut its forecast of Argentina's soybean crop for harvesting in early 2010 to 50.0 million tonnes from 52.0 million tonnes forecast last month due to dry weather.
This would still be up strongly from the drought-reduced 32.0 harvested in the previous crop.

Breaking News-RTRS-Oil World sees rising palm oil prices from Dec

HAMBURG, Nov 3 (Reuters) - Global palm oil prices are likely to rise from December because of reduced stocks and sunflower oil prices are also set to increase, Hamburg-based oilseeds analysts Oil World forecast on Tuesday.
"Owing to declining stocks, palm oil prices are likely to appreciate from December onwards and may rally by $80 to $150 (a tonne) until March or April 2010," it said.

Trader' s Highlight

DJI-NEW YORK, Nov 3 (Reuters) - The Dow dipped while the S&P 500 and Nasdaq rose slightly on Tuesday as a Morgan Stanley downgrade of semiconductors weighed on the sector, while deal news bolstered views that merger actvity was picking up.

The Dow Jones industrial average <.DJI> was down 8.69 points, or 0.09 percent, at 9,780.75. The Standard & Poor's 500 Index <.SPX> was up 2.89 points, or 0.38 percent, at 1,045.77. The Nasdaq Composite Index <.IXIC> was up 3.49 points, or 0.17 percent, at 2,052.69.

NYMEX-NEW YORK, Nov 3 (Reuters) - U.S. crude oil futures were little changed in post-settlement trading on Tuesday after industry data showed a surprise drawdown in domestic crude stocks last week.

The American Petroleum Institute said that for the week ending Oct. 30, crude stockpiles fell by 3.3 million barrels, gasoline stocks rose by 501,000 barrels and distillate supplies increased by 1.8 million barrels.

The U.S. Energy Information Administration will release its own data on Wednesday, at 10:30 a.m. EST (1530 GMT).

On the New York Mercantile Exchange at 5 p.m. EST (2200 GMT) December crude was up $1.24, or 1.59 percent, at $79.37. It was trading at $79.39 just before the API data was released. It earlier settled up $1.47, or 1.88 percent at $79.60, trading from $76.55 to $79.77.

CBOT-SOYBEANS - November up 9-1/4 cents per bushel at $10.06-3/4 per bushel. January up 12-1/2 at $10.10-1/2.

Technical fund buying boosts soybean market with additional support from higher crude oil, offsetting bearish impact of improved U.S. harvest weather and firm dollar.

CBOT-SOYOIL - December up 0.74 cent per lb at 37.53 cents per lb. Following soybeans with fund buying offsetting bearish impact of firm dollar.

FCPO-JAKARTA, Nov 3 (Reuters) - Malaysian crude palm oil futures edged down on Tuesday as speculation of a big jump in production in October fueled fears of a further rise in inventories, which would be bearish for prices, traders said.

The benchmark January palm oil contract on the Bursa Malaysia Derivatives Exchange dropped 18 ringgit, or 0.8 percent, at 2,190 ringgit ($638.67) a tonne. Overall volume was 12,666 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, Nov 3 (Reuters) - Most Southeast Asian stock markets
extended recent losses on Tuesday in a market cautious ahead of a U.S. Federal Reserve meeting, and lower oil prices forced down big-cap energy and resource shares across the region.

Singapore <.FTSTI> lost 0.9 percent, adding to Monday's 0.2 percent decline, and Thailand <.SETI> ended down 1.3 percent after touching its lowest in over eight weeks.

Indonesia <.JKSE> shed 1.6 percent, while Vietnam <.VNI>, Southeast Asia's best performer so far this year, sank 3.9 percent to its lowest in nearly eight weeks.

The U.S. central bank is widely expected to keep rates unchanged but there is a chance the Fed will drop its pledge to keep rates low for an extended period of time.

In Kuala Lumpur, Bursa Malaysia queried unusual price moves in tech firm Lityan , which slid as much 18 percent on the day. Lityan's share price has more than doubled since its relisting on Oct. 30. The share closed down 9.3 percent.

NYMEX Crude Daily: Range trading likely to continue

Market looks likely to trade in range trading in near term between USD75.00-USD73.00 to USD80.00-USD82.00.

FCPO Daily: Waiting for a significant breakout

Low is getting higher yet we are still waiting for a significant breakout either the upside resistance at 2250 or the downside support at 2130 levels. The overall immediate technical landscape remains mix view and market looks likely to consolidate in near term.

FKLI Daily: Upside gain is capped

A weak closing had weaken further the immediate technical landscape as upside gain is capped. Thus, we continue to look for the immediate downside support at 1230 followed by 1200. Immediate upside resistance is pegged at 1260 followed by 1273.5.

Breaking News-RTRS-Palm oil CO2 targets delayed as NGOs, planters tussle

KUALA LUMPUR, Nov 2 (Reuters) - Planned palm oil carbon emission targets will be delayed by at least a year as planters clash with NGOs on calculating the vegetable oil's environmental impact, officials said on Monday.
The measure was aimed at combating the negative image of palm oil output, which green groups say has been partly fuelled by producers in Southeast Asia cutting down swathes of rainforests and draining carbon-rich peatlands.
But Malaysian and Indonesian producers say imposing limits on land expansion based on greenhouse gas emissions was an unfair barrier to trade as oil palm estates could act as net carbon sink.
The CO2 targets were delayed by a year pending further study and watered down to a voluntary undertaking during the Roundtable of Sustainable Palm Oil (RSPO) that brings together producers, buyers and NGOS this week in the Malaysian capital.

Breaking News-RTRS-UPDATE 1-Malaysia replanting scheme to cut palm output

KUALA LUMPUR, Nov 2 (Reuters) - A replanting scheme should cut Malaysian palm oil output by half a million tonnes in 2009 and 2010 as stocks start to build up, a government minister said on Monday.
Under a state-funded programme, smallholders are expected to replant some 200,000 hectares of plantation land with new trees, said the country's Commodities Minister Bernard Dompok.

Trader's Highlight

DJI-NEW YORK, Nov 2 (Reuters) - U.S. stocks rose on Monday after another round of solid economic reports but pulled off session highs after a Federal Reserve official's warning about banks' loan losses.

The Dow Jones industrial average <.DJI> gained 76.71 points, or 0.79 percent, to end at 9,789.44. The Standard & Poor's 500 Index <.SPX> climbed 6.69 points, or 0.65 percent, to 1,042.88. The Nasdaq Composite Index <.IXIC> added 4.09 points, or 0.20 percent, to 2,049.20.

NYMEX-NEW YORK, Nov 2 (Reuters) - U.S. crude oil futures rebounded on Monday as a trio of economic reports on domestic manufacturing, construction and pending home sales showed that the economy continues to recover from recession.

Late-session trading was choppy, and at one point crude futures gave up earlier gains as Wall Street sold off after rallying in the morning on the upbeat economic data.

On the New York Mercantile Exchange, December crude settled up $1.13, or 1.47 percent, at $78.13 a barrel, trading from $76.56 to $78.66.

CBOT-SOYBEANS - November up 19-1/2 cents at $9.97-1/2 a bushel; January up 21-1/2 at $9.98.

Weak dollar and strong export inspections support but expectations for more soybeans to move into marketing channels this week as U.S. harvest weather improves overhangs prices.

CBOT-SOYOIL - December up 0.39 cent at 36.79 cents a lb. Firm crude oil supports.

FCPO-JAKARTA, Nov 2 (Reuters) - Malaysian crude palm oil futures finished flat on Monday, recouping losses of up to 2.4 percent earlier in the day, as a rebound in crude oil and soy prices sparked some short-covering in late trade, traders said.

The benchmark January palm oil contract on the Bursa Malaysia Derivatives Exchange closed flat at 2,208 ringgit ($647.5), after dropping as low as 2,154 ringgit early in the day. Overall volume was 18,601 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, Nov 2 (Reuters) - Stocks in Thailand fell more than
1.0 percent on Monday, leading major Southeast Asian markets lower, with sagging energy shares such as PTT Exploration and Production and oil and gas giant PTT weighing on Bangkok.

Singapore's index <.FTSTI> dipped 0.22 percent after Friday's 0.7 percent gain, Malaysia's index <.KLSE> eased 0.12 percent, but Indonesian shares <.JKSE> snapped earlier falls to close up 0.17 percent.

FCPO Daily: Range trading likely to continue

Market recouped and rebounded from its early losses to end off the day high had printed a long white candle. However, the overall immediate technical landscape remains mix view as market is still consolidate in between 2250 to 2130 levels. A breakout from the either way may provide us more clearer direction in near term market.

FKLI Daily: Surviving at 1230 levels

Market defended well at the underline support at 1230 levels and fully covered the upside gap left over at 1241.5-1243. This had provided some cushion to the downside move. Hence, market looks may continue to consolidate in near term. Immediate upside resistance is pegged at 1260 followed by 1273.5. While, to the downside, support is lies at 1230 followed by 1200.