Trader's Comment: CPO futures ended broadly higher after “floating” in a higher range.

CPO futures ended broadly higher after “floating” in a higher range. Benchmark mar09 opened RM44 higher at 1580 tracking the strong gains in eCBOT soy oil and Dalian palm in the early trade. It hit the intra day low of 1569 but was well supported and managed to continue to trade in a higher range between 1575-1595 level through out most of the sessions. Traders seem confident in the FCPO market especially after the release of strong export data by both private cargo surveyors. SGS, closely watched by market players put 1-20 Dec export up 31.49% over same period in November had boosted the players’ confidence. Benchmark Mar09 rallied to hit intra day high of 1596 in the early second session but it retreated back into the range until it finally settled RM52 higher at 1588. The rebound in Asian time crude oil after overnight January contract of NYMEX light crude expired sharply lower had helped to provide some supportive sentiment in the market.

Breaking News-RTRS-China to keep importing soy on lower prices -survey

BEIJING, Dec 19 (Reuters) - Chinese crushers in the north were seen continuing to import soybeans briskly despite a pickup of Chicago Board of Trade prices, since domestic soy remained expensive, an official survey showed.
"Crushers in the north would not shift to crush domestic soybeans unless U.S futures prices rise to more than $9.80 (per bushel)," the China National Grain and Oils Information Centre (CNGOIC) said in a report.

Breaking News-RTRS-UPDATE 1-Indonesia to keep palm oil export tax at zero

JAKARTA, Dec 19 (Reuters) - Indonesia will keep its palm oil export tax at zero in January due to low global palm oil prices, a senior trade ministry official said on Friday.
But it may raise slightly base export price for curde palm oil by $3 to $418 a tonne in January from December, Diah Maulida, director general of foreign trade at the trade ministry said.

Trader's Highlight

DJI-NEW YORK, Dec 19 (Reuters) - The S&P 500 and Nasdaq rose on Friday after the U.S. government said it would throw a $17.4 billion lifeline to automakers grappling with falling consumer demand.
But the Dow ended lower, pulled down by another fall in energy shares, including Chevron and Exxon Mobil as oil sank for the sixth day in a row on fears the anemic economy will swamp demand.

NYMEX-NEW YORK, Dec 19 (Reuters) - U.S. crude oil futures ended more than 6 percent lower on Friday in volatile trading as the expiring front-month January contract was pressured by the weak economy that has slowed demand and brimming storage.

On the New York Mercantile Exchange, expiring January crude fell $2.35, or 6.49 percent, to settle at $33.87 a barrel, the lowest settlement for front-month crude since Feb. 10, 2004 when it ended at the same level.

Friday's trading range was from $32.40 -- the lowest since $32.25 struck Feb. 9, 2004 -- to $37.59. February crude rose 69 cents, or 1.66 percent, to
settle at $42.36 a barrel, trading from $40.90 to $43.25.

CBOT-SOYBEANS - January down 1-1/4 cents at $8.68-1/4 a bushel, March down 2 cents to $8.72-1/2 a bushel. Crude oil drop, firm dollar negative for soybean prices.

CBOT-SOYOIL - January down 0.10 cent to 30.60 cents a pound, March off 0.13 cent to 30.91 cents a pound. Weakness in soybeans and dollar strength weighing on soyoil
futures.

FCPO-JAKARTA, Dec 19 (Reuters) - Malaysian palm futures dropped for second day to its weakest level in two weeks, after crude oil touched fresh 4-1/2 year low as demand gloom offset OPEC's record supply cut.

The benchmark March palm oil contract on the Bursa Malaysia's Derivatives Exchange closed down 9 ringgit, or 0.58 percent, at 1,536 ringgit ($443) per tonne.

Other traded contracts were mostly lower, falling between 2 ringgit and 60 ringgit. Overall volume stood at 9,562 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, Dec 19 (Reuters) - Major Southeast Asian stocks drifted lower on Friday as the impact of interest rate cuts faded and falling oil prices dragged down plantation and energy shares such as Malaysia's IOI Corp and Thai energy firm PTT.

Among key Southeast Asian indices, Singapore <.FTSTI> eased 0.19 percent, Malaysia <.KLSE> shed 0.47 percent, Thailand <.SETI> fell 1.04 percent and Indonesia <.JKSE> edged 0.26 percent lower.

FKLI Weekly: Year end rally

A good closing for the week had neutralised the immediate weekly outlook. Market cheers up as bull keep on with its fight spirit for year end rally. Market looks may want to move sideways to upside potential in near term. We now look for the Support at 839-845. While, immediate resistance is at 900 followed by 924-927.

KLSE Weekly: Santa is coming to town

Market improves following immediate resistance at 868-869 was violated completely. Looks market may want to move sideways to bias upside potential in near term. We now looking the support at 835-830. For upside, resistance is at 900 followed by 923-931.

DJI Weekly: Directionless

Market continue to trade in range and directionless. We continue to look for the support at 8000 mark. For upside, resistance maintains at 9026-9043.

FCPO Weekly: Remains same posture

Market was holding firm and looks may continue to build up base. We continue to look for support at 1396-1331. Upside resistance is at 1692-1727.