Trader's Comment: Palm oil futures ended broadly higher after trading in a roller-coaster manner.

Palm oil futures ended broadly higher after trading in a roller-coaster manner. Benchmark Feb09 initially open Rm12 higher at 1511 following overnight NYMEX crude oil and CBOT soy complex rallied higher. It then climbed to 1559 in the morning session, before it closed at 1527 for the lunch break. Afternoon session it resumed trading with easier tone and slide to hit intra day low at 1487 as lack of follow through buying coupled with profit taking after earlier rally. Nevertheless, bargain hunting activities began to take place when traders reacted to market talk that 1-10Dec export figures (which is due to be released tomorrow) will be good, saw Benchmark Feb09 recovered its earlier losses and surged to hit the intra day high at 1567 before it finally settled RM53 higher at 1555. Fears that heavy rains and floods will hit production in the next couple of months also lifted the buying sentiment in the market.

Breaking News-RTRS-Malaysian Nov palm data to be released on Dec 12-MPOB

KUALA LUMPUR, Dec 9 (Reuters) - Malaysia will release key November palm oil stocks, production and export data on Dec. 12 instead of Dec.10, industry regulator Malaysian Palm Oil Board said on Tuesday.
The change was in lieu of the recent long weekend holiday, an official said.

Breaking News-RTRS-Brazil gov't sees 08/09 soy crop at 58.8 mln T

SAO PAULO, Dec 8 (Reuters) - Brazil's 2008/09 (Oct/Sept) soybean crop was estimated at 58.8 million tonnes, within the range of the November estimate of 58.4-59.3 million tonnes, the Agriculture Ministry said on Monday.

Trader's Highlight

DJI-NEW YORK, Dec 8 (Reuters) - U.S. stocks rallied to their highest level in a month on Monday on optimism President-elect Barack Obama's proposed infrastructure spending could limit the depth of the year-old recession and on hopes for a government bailout of the three U.S. automakers.

The Dow Jones industrial average <.DJI> rose 298.76 points, or 3.46 percent, to 8,934.18. The Standard & Poor's 500 Index <.SPX> climbed 33.63 points, or 3.84 percent, to 909.70. The Nasdaq Composite Index <.IXIC> was up 62.43 points, or 4.14
percent, at 1,571.74.

NYMEX-NEW YORK, Dec 8 (Reuters) - U.S. crude oil futures ended higher on Monday, snapping a six-session losing streak, as hopes for more economic stimulus lifted global equities, the dollar dipped against the euro and industry sources said Saudi
Arabia would cut supply further. U.S. cold weather and a port strike in France also helped lift oil futures, trading sources said. The market has recently become oversold, prompting buying from the lows, they added.

On the New York Mercantile Exchange, January crude settled up $2.90, or 7.11 percent, at $43.71 a barrel, trading from $41.55 to $44.70.

CBOT-SOYBEANS - January up 37 cents at $8.20-1/2/bu. Rallied on technical bounce. Improving crop weather in South America overhangs prices.

CBOT-SOYOIL - December up 1.23 cents at $29.48 cents/lb. Following crude oil higher.

FCPO-JAKARTA, Dec 5 (Reuters) - Malaysian palm futures rose more than 2 percent on Friday on short-covering ahead of a long weekend, recovering from losses earlier in the day, traders said.

The benchmark February palm oil contract on the Bursa Malaysia's Derivatives Exchange settled up 37 ringgit, or 2.53 percent, at 1,499 ringgit ($412) a tonne after trading as low as 1,396 ringgit a tonne in the morning session.

Other traded contracts rose between 23 ringgit and 45 ringgit. The overall volume was 12,277 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, Dec 8 (Reuters) - Thailand's stock index <.SETI> rose 4.5 percent to a one-week high on Monday as investors bought energy blue chips such as PTT , while hopes of a rate cut buoyed stocks such as Ayala Corp in the Philippines.

Trade in Southeast Asia was muted because markets in Singapore <.FTSTI>, Indonesia <.JKSE> and Malaysia <.KLSE> were closed for holidays.

Trader's Comment: CPO futures came off low to end in a positive territory after recovered from its early losses.

CPO futures came off low to end in a positive territory after recovered from its early losses. Benchmark Feb09 initially opened RM54 lower at 1408 and hit intra day low at 1396, following overnight NYMEX crude oil ended below $44 coupled with easier CBOT. However, CPO prices managed to climb back slowly through out the morning session amid firmer crude oil prices in Asian time zone. As market will be closed on next Monday, pre-weekend short covering activities began to capitalize on the market. Benchmark Feb09 continued to rally until it finally settled at the intra day high of 1499. Traders are also waiting for fresh leads of official supply & demand data for the month of November08 which is due to be released by Malaysia Palm Oil Board on 10/12/08.

FCPO Weekly: 1400 mark defended

1400 mark well defended and looks sideways posture will be extended in near term. Support is pegged at 1331 while upside resistance is at 1692-1727.

FKLI Weekly: remains in bearish territory

No sign of improvement as market remains in bearish territory. We maintain the support and resistance at 803.5 and 924.5-927 level respectively.

KLSE Weekly: tight range

Market remains in tight rangy mode. We continue to look at the underline support at 800 mark. For upside, immediate resistance is at 920-926.

DJI Weekly: sideways to lower

DJI stuck in consolidation phase to move sideways to lower. We continue to look for the support at 7882-7449 For upside, resistance is at 9653-9794.