Trader's Comment: Palm oil futures continue to end lower on 3rd straight day losses after surrendered its earlier gains.

Palm oil futures continue to end lower on 3rd straight day losses after surrendered its earlier gains. Benchmark Sep09 unable to cover fully on its yesterday’s left over gap as it merely hit intra day high of 2294 after opened RM26 higher at 2288. Prices then began to fall through out most of the sessions until it hit intra day low of 2209 in the second session. The emerged of some late intra day short covering activities led Benchmark Sep09 to settle RM32 lower at 2230. Trading remained quiet since last few days as players now cautiously awaiting for more fresh leads from tonight’s USDA June planting & quarterly stock report and the upcoming MPOB supply & demand data due to release on 10 July. External markets were mix as Dalian palm inched lower while eCBOT soy oil recovered from its overnight losses to trade higher in Asian time trading.

Breaking News-(BN) Malaysia to Set Up 10 Billion Ringgit Private Equity Fund

By Soraya Permatasari
June 30 (Bloomberg) -- Malaysia’s government plans to set up a 10 billion ringgit ($2.8 billion) private equity fund, Prime Minister Najib Razak.
The fund will focus on investing in companies majority- owned by the country’s ethnic Malays, Najib said today in a speech in Kuala Lumpur.

Breaking News-(BN) Malaysia to Ease 30% Rule on Bumiputera Ownership in IPOs

By Soraya Permatasari
June 30 (Bloomberg) -- Malaysia will ease a requirement to allocate 30 percent of the shares in initial public offerings to so-called Bumiputera investors, Prime Minister Najib Razak said today in a speech.

Trader's Highlight

DJI-NEW YORK, June 29 (Reuters) - U.S. stocks rose on Monday as higher oil prices lifted shares of energy companies and fund managers snapped up this quarter's winners to burnish their portfolios.

Fund managers are enhancing their portfolios before the quarter ends on Tuesday in a ritual known as "window dressing" by selling some of the quarter's losers and scooping up the winners. This move bolstered stocks as well.

The Dow Jones industrial average <.DJI> gained 90.99 points, or 1.08 percent, to end at 8,529.38. The Standard & Poor's 500 Index <.SPX> was up 8.33 points, or 0.91 percent, at 927.23. The Nasdaq Composite Index <.IXIC> was up 5.84 points, or 0.32 percent, at 1,844.06.

Wall Street's eyes and ears also were on the news coverage of Bernie Madoff, who was sentenced to 150 years in prison on Monday for running what prosecutors called a $65 billion Ponzi scheme. When Madoff's fraud was revealed last December, its scope was so brazen and so massive that it shocked investors and made everyone question their broker.

NYMEX-NEW YORK, June 29 (Reuters) - U.S. crude oil futures rose sharply on Monday as attacks in Nigeria and optimism about economic recovery helped boost equities, sidelining worries about tepid demand and high inventories.

On the New York Mercantile Exchange, August crude settled up $2.33, or 3.37 percent, at $71.49 a barrel, the highest settlement since June 12's $72.04. It traded from $68.36 to $71.92.

CBOT-SOYBEANS - July up 14 cents per bushel at $12.15. November down 7-1/2 cents at $9.83-1/2.

Tight supplies of soy continue to lift soybean futures market while good U.S. crop growing weather weighs on November

CBOT-SOYOIL - July down 0.30 cent per lb at 35.78. Turns down on profit-taking.

FCPO-JAKARTA, June 29 (Reuters) - Malaysian palm futures fell on Monday as investors cut positions amid fears that demand for the tropical oil is slowing down and on worries that India might impose import duties, traders said.

The benchmark September palm oil contract on the Bursa Malaysia Derivatives Exchange lost 57 ringgit, or 2.5 percent, to 2,262 ringgit ($639.5) a tonne. Overall traded volume was 12,695 lots at 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, June 29 (Reuters) - Southeast Asian stock markets
ended mixed on Monday, with losses in big caps such as SingTel
weighing on Singapore but the Thai index outperforming thanks to
gains in banking shares.

Singapore's index <.FTSTI> inched down 0.03 percent, with Singapore Telecommunications sliding 1.3 percent, after four days of gains, and CapitaLand fell 0.53 percent.

Malaysia <.KLSE> ended flat, but Maybank rose 0.9 percent and Public Bank 1.1 percent. However, TA Investment Management said the outlook for
Malaysian banking stocks remained murky because there was no clear sign yet that the economy would bounce back in the fourth quarter as many have hoped.

Indonesia <.JKSE> eased 0.3 percent while Manila <.PSI> drifted down 0.4 percent, even though their central banks could decide to cut interest rates at meetings in July.

KLSe Daily: Continue to inch higher

Overall market momentum remains steady and slowly inching up. To the upside, resistance is stood at 1083-1086 (gap left over since 16/6/2009)followed by 1095. Immediate downside support will be looking at 1072 followed by 1064-1059 (gap left over on 24/6/2009).

FKLI Daily: Firmly bullish

Market close firm and looks may want to challenge 1092-1100 in near term. Immediate support is pegged at 1072 followed by 1055.

FCPO Daily: Consolidation phase likely to extend

Consolidation phase likely to extend as market remains in rangy mode bias sideways to lower in near term market. As for now, upside resistance is at 2289-2296 (gap left over on 29/6/2009) followed by 2340-2350. For downside, immediate downside support is pegged at 2231 followed by 2155-2149.

Trader's Comment: Palm oil futures ended lower as lack of buying support due to weak external factors.

Palm oil futures ended lower as lack of buying support due to weak external factors. Benchmark Sep09 gaped down RM34 at 2285 after the opening bell and hit intra day low of 2242 with aggressive selling interest emerged as tracking the negative Dalian Commodity prices and Asian time NYMEX crude oil. However, market talk that end June export data which will be released tomorrow may be around 1.25m tonnes compared with last month figure of 1.21m tonnes (ITS), had managed to provide some cushion to the market momentum. Prices then hanging around 2250-2270 level through out the remaining session before it ended RM57 lower at 2262. Total volume stood at 12,695 contracts changed hands. Players now waiting for the USDA's June planting and quarterly stocks reports on Tuesday night followed by MPOB supply & demand data due to release on 10 July.

Breaking News-RTRS-INTERVIEW-Indonesia considers reimposing soybean import duty

JAKARTA, June 26 (Reuters) - Indonesia, the world's sixth-biggest soybean importer, is looking into reimposing import duty on soybeans in order to support local production, an agriculture ministry official told Reuters on Friday.
"We were once self reliant in soybean supplies back in the 1990s before imported soybeans flooded the market. So why can't we try again," Sutarto Alimoeso, director general of food crops at the ministry, said in an interview.
He said farmers would be encouraged to plant more if soybean prices were attractive.

Breaking News-RTRS-Hot days, nights may stress U.S. crops-agronomists

CHICAGO, June 26 (Reuters) - This week's heatwave has raised some concerns about whether it was too hot for corn and soy crops planted late in the U.S. Midwest due to a wet spring, but the damage will depend on how long the hot weather lasts, agronomists said.

Breaking News-RTRS-Near perfect weather for US corn, soy development

CHICAGO, June 26 (Reuters) - Periodic showers along with warmer temperatures across the U.S. Midwest are near perfect growing conditions for young corn and soybean plants, a forecaster said Friday.
"Some storms in the north could produce locally heavier rains and cause localized flooding, but overall this is a pretty good crop weather coming into the month of July," Mike Palmerino, DTN Meteorlogix forecaster, said.

Trader's Highlught

DJI-NEW YORK, June 26 (Reuters) - The Nasdaq rose on Friday, on strong demand for Palm's Inc's Pre smartphone, while the Dow was dragged lower by sliding oil prices and strength in some financial stocks helped cushion the S&P 500's decline.

The technology-heavy Nasdaq outperformed, helped partly by gains in Palm after it posted a narrower-than-expected loss late on Thursday and said demand was strong for its new Pre smartphone.

Weighing on sentiment, a jump in the savings rate suggested that the debt-burdened U.S. consumer may not drive the economy out of recession as fast as hoped.

The Dow Jones industrial average <.DJI> dropped 34.01 points, or 0.40 percent, to 8,438.39. The Standard & Poor's 500 Index <.SPX> fell 1.36 points, or 0.15 percent, to 918.90. But the Nasdaq Composite Index <.IXIC> gained 8.68 points, or 0.47 percent, to 1,838.22.

NYMEX-NEW YORK, June 26 (Reuters) - U.S. crude oil futures fell back on Friday as oil traders took pre-weekend profits, joining investors on Wall Street who worried that a jump in the U.S. savings rate may hamper the road to economic recovery.

On the New York Mercantile Exchange, August crude settled down $1.07, or 1.52 percent, at $69.16 a barrel, trading from $68.81 to $71.29. From a week ago, the contract was down 39 cents, or 0.56 percent.

CBOT-SOYBEANS - July up 5 cents per bushel at $12.01. November down 11 cents at $9.91.

Weak U.S. dollar and tight U.S. stocks supporting old-crop values, but gains limited by weak crude oil and pressure on November from prospects for big U.S. soy acreage this year.

CBOT-SOYOIL - July down 0.46 cent per lb at 36.08 cents Crude oil down more than $1 per barrel.

FCPO-KUALA LUMPUR, June 26 (Reuters) - Malaysian palm futures dipped 0.8 percent on Friday as some investors booked profits on a rally fuelled by expectations that India would have to import more vegetable oils as monsoon rains were below normal.

The benchmark September palm oil contract on the Bursa Malaysia Derivatives Exchange settled down 19 ringgit to 2,317 ringgit ($656.4). Overall traded volume stood at 11,629 lots at 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, June 26 (Reuters) - Singapore climbed near a two-week high on Friday, rising for a third day and leading most other Southeast Asian stock markets higher, with low interest rates bolstering demand for regional property shares.

Investors continued to allocate more money to stocks because of the low-rate environment and the prospect of a gradual recovery in the global economy, while energy shares rose after oil went above $71 a barrel.

Markets in the region recovered part of last week's losses, led by Manila, which gained 3.3 percent on the week, reversing from a 7.7 percent drop the week before, followed by Jakarta's 2.5 percent gain and Singapore's 2 percent.

Singapore's index <.FTSTI> ended up 0.7 percent at its highest level since June 15, with Keppel Land up 2.2 percent and City Development up 1.5 percent.

Malaysia <.KLSE> eked out a small 0.2 percent gain, with lender Maybank down 1.7 percent, while palm planter Sime Darby rose 0.7 percent.

DJI Weekly: Holding in sideways

Market has been holding in sideways manner and no showing any sign of improvement. Thus, we continue to look for the resistance at 8600-8800 followed by 9000. To the downside, support is pegged at 8000.

KLSE Weekly: Steady

A long lower shadow shows that market was well adsorb after the recent sell down. Thus, we are currently looking for the downside support at 1028 followed by 1000. While, upside resistance is stood at 1095-1100.

FKLI Weekly: Not Give UP

Market rebounded and recovered after tested the support at 1031. Looks market may not give up to fight for more bullish territory. As for now, we are looking for the immediate support at 1031 followed by 1000. To the upside, resistance remains at 1092-1100.

FCPO Weekly: Enter to Consolidation zone

Market is entering a consolidation zone after it managed to defend at 2149 level. We maintain our view sideways to lower in near term market while waiting for a significant breakout either to the upside at 2350 or downside support at 2149. Violation of either way may see next upside resistance at 2400-2450. Downside support will be followed by 2100-2050.

Trader's Comment: Palm oil futures retreated from yesterday’s rebound on pre-weekend profit taking.

Palm oil futures retreated from yesterday’s rebound on pre-weekend profit taking. Traders had been selling aggressively whenever prices approaching 2350 level to book their previous profit and also some speculative selling. Benchmark immediately fell to the morning low of 2306 after opened almost unchanged at 2340. Prices went up to intra day high of 2349 after second session resumed but was unable to hold and saw speculative selling interest emerged until it hit intra day low at 2296. However, some late intra day short covering activities led Benchmark Sep09 to bounce back slightly and settled RM19 lower at 2317. The bullish external markets had lent some support to the local CPO market. Asian time NYMEX crude oil extended its overnight strong gains and traded above $71 level, while Dalian palm and eCBOT soy oil edged more than 1% higher.

Trader's Highlight

DJI-NEW YORK, June 25 (Reuters) - U.S. stocks rallied on Thursday as investors were relieved Fed Chairman Ben Bernanke withstood a barrage of pointed questions from Congress on the Bank of America-Merrill Lynch deal relatively unscathed.
president at Morgan Asset Management, in Birmingham, Alabama.

The Dow Jones industrial average <.DJI> jumped 172.54 points, or 2.08 percent, to 8,472.40, snapping a four-day losing streak. The Standard & Poor's 500 Index <.SPX> gained 19.32 points, or 2.14 percent, to 920.26. The Nasdaq Composite Index <.IXIC> advanced 37.20 points, or 2.08 percent, to 1,829.54. president at Morgan Asset Management, in Birmingham, Alabama.

NYMEX-NEW YORK, June 25 (Reuters) - U.S. crude oil futures rebounded sharply on Thursday, jumping above $70 a barrel, on supply snags in Nigeria, optimism about economic recovery fueling Wall Street and a rally in gasoline futures.

Crude oil futures bounced early from Wednesday's loss on news that a main militant group had sabotaged a Royal Dutch Shell oil pipeline in Nigeria on Thursday, the latest in a string of attacks.

On the New York Mercantile Exchange, August crude settled up $1.56, or 2.27 percent, at $70.23 a barrel, the highest settlement since June 18's $71.37. It traded from $68.11 to $70.93.

CBOT-SOYBEANS - July up 11 cents per bushel at $11.96. Led by meal after USDA reported strong export sales from last week. Tight stocks of soybeans continue to boost nearby soybean futures contracts.

U.S. Census Bureau said soy crush in May below average estimates and below year-ago.

CBOT-SOYOIL - July up 0.10 cent per lb at 36.54 cents. Spillover support from gains in soybeans, meal, with additional support from higher crude oil.

U.S. Census Bureau said U.S. soyoil stocks at the end of May above average analysts' estimates, year-ago figure.

FCPO-KUALA LUMPUR, June 25 (Reuters) - Malaysian palm oil jumped as much as 4 percent on Thursday to hit a one-week high as traders bet on more orders from India after the government said monsoon rains could be below normal for the first time in four years.

The benchmark September palm contract on the Bursa Malaysia Derivatives Exchange rose as much as 90 ringgit to 2,340 ringgit ($662.1) a tonne, a level unseen since June 18, before settling at 2,336 ringgit. Overall traded volume stood at 13,813 lots at 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, June 25 (Reuters) - Most Southeast Asian stock
markets rose for a second day on Thursday as gains in financials such as DBS Group, Maybank and Bank Rakyat helped push Singapore, Malaysia and Indonesia to their highest in more than a week.

A statement by the U.S. Federal Reserve after a policy meeting reinforced the view that U.S. rates would be kept at a record low for some time, boosting optimism in stocks.

"The Fed's decision to leave rates unchanged was unsurprising. More importantly, the commentary in the FOMC statement suggests tightening measures are not on the horizon," Macquarie Research Equities said in a note.

Singapore's index <.FTSTI> closed up 1.03 percent, slightly below its early rise to the highest level since June 15, with DBS Group Holdings , Southeast Asia's biggest bank, up 1.8 percent.

Malaysia's index <.KLSE> rose 1.5 percent to its highest since June 17, with Malayan Banking up 2.6 percent and Bumiputra Commerce 1.7 percent higher.

The Jakarta index <.JKSE> climbed 2.4 percent to its highest level since June 16, with Bank Rakyat adding 5.7 percent and Bank Central Asia rising 4.8 percent.

DJI Daily: Sideways likely to continue

Market is likely to extend its sideways move in near term. We maintain the downside support at 8200-8000. To the upside, resistance is at 8600-8800.

KLSE Daily: Firm

Market gaped up with another long white candle had beautified the overall immediate technical landscape. As for now, resistance is stood at 1075-1080 followed by 1095. For downside, support is pegged at 1064-1059 (gap left over on 25/6/2009) followed by 1046-1044 (gap left over on 24/6/2009.

FKLI Daily: looking Good

Market violated the resistance at 1065-1070 and stayed firm had added strength to the upside move. As for now, we are looking for the upside resistance at 1080-1092. Downside support is pegged at 1050-1040.

FCPO Daily: remains in Consolidation phase

Market remains in consolidation phase still looking for a significant breakout either to the downside at 2149 or the upside resistance at 2350.

Trader's Comment: Palm oil futures recovered from yesterday’s losses to end broadly higher on India monsoon concern.

Palm oil futures recovered from yesterday’s losses to end broadly higher on India monsoon concern. News that India’s monsoon rain, a lifeline to its farmers for irrigation, are expected to be below normal for the first time in four years led Benchmark Sep09 to rally through out the day to settle RM86 higher at 2336, as traders speculate on more imports from India. On the other side, the results of 1-25 June export data released by both private cargo surveyors showed slightly improved from last month corresponding period and this had also lent some support to the CPO prices. External markets were supportive as both Dalian palm and eCBOT soy oil were up more than 1% while Asian time NYMEX crude oil clawed back its earlier losses to inch higher in late trading.

Breaking News-RTRS-Palm oil set to boost share of total oils demand

LONDON, June 24 (Reuters) - Palm oil is well-placed to raise its share of total world oils and fats consumption as it has higher yields than other oilseeds, a long productive life, and is cheap to produce, delegates told a conference on Wednesday.
Paul Nellens, a member of the executive committee of SIPEF N.V., a palm oil producer, told the Public Ledger's Edible Oils 2009 conference that palm oil output had surged to 43 million tonnes in 2008 from around 2 million tonnes 30 years ago.
He said palm oil had increased its share of the consumption of the world's leading 17 oils and fats to 27.5 percent in 2008/09 from 13.9 percent in 1990/91, which he attributed to the high yields per hectare of palm oil compared to alternatives.

Breaking News-RTRS-UPDATE 1-Edible oils demand rise dented but defiant

LONDON, June 24 (Reuters) - The global economic crisis is dragging on demand for edible oils but production and consumption are expected to increase markedly over the longer term, an industry analyst said on Wednesday.
"Edible oil consumption is growing but with a temporary slowdown," said Vito Martielli, industry analyst with Rabobank.
"Confidence and economic recovery are key to a recovery in demand," he told The Public Ledger's Edible Oils 2009 conference.

Breaking News-RTRS-Indian trade body calls for import tax on veg oils

NEW DELHI, June 24 (Reuters) - India, the world's biggest vegetable oil buyer after China, should tax imports of cooking fat to check a surge in overseas purchases, a leading trade body said on Wednesday.
"We have strongly recommended to the government to revisit the import duty structure," Ashok Sethia, president of the Solvent Extractors' Association of India (SEA), said in a statement.
The SEA said the government should slap an import tax of at least 20 percent on crude palm oil, 30 percent on RBD palmolein, 25 percent on crude soyoil.

Trader's Highlight

DJI-NEW YORK, June 24 (Reuters) - The Dow fell for the fourth day and other indexes ended well off the day's highs on Wednesday after the Federal Reserve reiterated concerns about the economic outlook at the end of its policy meeting.

The Fed, as expected, left the benchmark fed funds rate at almost zero. The bond market sold off on disappointment that the Fed did not announce an acceleration or increase of its purchases of Treasury and mortgage-related debt.

The Fed's words on the economic outlook were mixed. The central bank said the economy was likely to remain weak for a time, but the contraction's pace was slowing.

The Dow Jones industrial average <.DJI> was down 23.05 points, or 0.28 percent, at 8,299.86. But the Standard & Poor's 500 Index <.SPX> was up 5.84 points, or 0.65 percent, at 900.94. The Nasdaq Composite Index <.IXIC> was up 27.42 points, or 1.55 percent, at 1,792.34.

NYMEX-NEW YORK, June 24 (Reuters) - U.S. crude oil futures ended lower on Wednesday after the dollar extended gains following the U.S. Federal Reserve's decision to keep interest rates unchanged, as expected.

On the New York Mercantile Exchange, August crude settled down 57 cents, or 0.82 percent, at $68.67 a barrel, trading from $68.06 to $69.86.

CBOT-SOYBEANS - July up 6 cents per bushel at $11.85. November up 3-1/2 cents at $10.08. Tight soy supplies continue to give soybean market a boost. Hot, dry conditions in U.S. crop belt seen removing some of the market's weather premium.

CBOT-SOYOIL - July down 0.49 cent per lb at 36.44 cents.

FCPO-KUALA LUMPUR, June 24 (Reuters) - Malaysian palm futures fell 1.6 percent on Wednesday, retreating from the previous day's surge as weakening soyoil prices prompted some investors to take profits.

Sentiment remained buoyant as Malaysian palm oil shipments were expected to show improvement in the June 1-25 reporting period in data from cargo surveyors Intertek Testing Services and Societe Generale de Surveillance that is due on Thursday.

The benchmark September palm oil contract on the Bursa Malaysia Derivatives Exchange settled down 36 ringgit at 2,250 ringgit ($637) per tonne, having closed six percent higher the previous day.

Overall traded volume stood at 11,380 lots of 25 tonnes each. Open interest dropped to 68,421 lots, from 73,086 lots on Tuesday.

REGIONAL EQUITIES-BANGKOK, June 24 (Reuters) - Major Southeast Asian stock markets rose on Wednesday, ending two days of falls, with financials and energy heavyweights leading the way ahead of news from a U.S. Federal Reserve policy meeting.

Malaysia's index <.KLSE> gained 1.3 percent, recouping most of a two-day fall of 1.42 percent, with palm planter IOI Corp up 2.2 percent and Malayan Banking up 2.7 percent.

Singapore's index <.FTSTI> climbed 2.4 percent, erasing a 2.1 percent loss over the previous two days, with outperformers including United Overseas Bank , which surged 3.3 percent, and Singapore Airlines , which jumped 4.1
percent.

Trader's Comment: Palm oil futures eased off from yesterday’s strong rebound to close lower in a tight range trading.

Palm oil futures eased off from yesterday’s strong rebound to close lower in a tight range trading. Benchmark Sep09 opened RM11 lower at 2275 and immediately fell to intra day low of 2231, tracking the early losses in eCBOT soy oil. It then bounced back slightly and started to hover between a tight range of 2233-2270 level through out most of the sessions until it finally settled RM36 lower at 2250. External markets were rather mix with no signs of major movement seen. Dalian palm inched higher today while eCBOT soy oil gave up some of its overnight gains to edge lower. Asian time NYMEX crude oil was slightly down to below $69 level. Market talk of 1-25 June export data which is scheduled to release tomorrow may improve to about last month figure. 1-20 June export was down 3%-4% compared with corresponding period (1-20 May) reported by both surveyor ITS & SGS. Daily volume reduced significantly to only 11,380 contracts changed hands.

KLSE Daily: still Firm

Market rebounded and recovered for the 2nd day had helped to strengthen the market momentum. As for now, resistance is stood at 1060-1065. For downside, support is pegged at 1046-1044 (gap left over on 24/6/2009.

FKLI Daily: remains Supportive

Market tested the resistance at 1055-1060 had strengthened further the immediate outlook. Thus, we continue to look for the immediate support at 1040-1030. To the upside, resistance is at 1065-1070.

FCPO Daily: Searching for direction

Market is searching for direction after a strong rebound. Thus, market may extend its consolidation phase until it shows a significant breakout either to the downside at 2149 or the upside resistance at 2350.

Breaking News-RTRS-Biodiesel slump aids U.S. soyoil exports-Oil World

HAMBURG, June 23 (Reuters) - Falling U.S. biodiesel production is likely to sharply push up U.S. soyoil exports in coming months as producers seek new markets, Hamburg-based oilseeds analysts Oil World said on Tuesday.
"The decline in usage for biodiesel production will probably pressure domestic soyoil prices, thus allowing larger than expected U.S. soyoil exports," Oil World said.

Breaking News-RTRS-Global June/Aug soybean exports to fall -Oil World

HAMBURG, June 23 (Reuters) - Global soybean exports will fall in June to August this year as high prices are likely to cut demand, Hamburg-based oilseeds analysts Oil World forecast on Tuesday.
"It is still uncertain whether the recent rally in soybean futures to a new eight-month high in the second week of June will be sufficient to generate the required rationing of imports or whether soybean prices will have resumed their rally in the near term," Oil World said.

Trader's Highlight

DJI-NEW YORK, June 23 (Reuters) - The S&P 500 rose on Tuesday as investors hunted for bargains a day after a steep sell-off, but another delay for Boeing's 787 Dreamliner kept the Dow in the red.

There was also caution a day ahead of the Federal Reserve's assessment of economic conditions.

The Dow Jones industrial average <.DJI> was down 16.10 points, or 0.19 percent, at 8,322.91. But the Standard & Poor's 500 Index <.SPX> was up 2.06 points, or 0.23 percent, at 895.10. The Nasdaq Composite Index <.IXIC> was down 1.27 points, or 0.07 percent, at 1,764.92.

NYMEX-NEW YORK, June 23 (Reuters) - U.S. crude oil futures pared gains after a weekly industry inventory report showed domestic crude stocks fell much less than expected last week.

On the New York Mercantile Exchange, new front-month August crude was up $1.30, or 1.93 percent, at $68.80 a barrel. It earlier settled up $1.74, or 2.58 percent, at $69.24, trading from $66.37 to $69.68.

CBOT-SOYBEANS - July up 27-1/2 cents per bushel at $11.79. November up 23-1/2 cents at $10.12.

Tight old-crop supplies and short-covering amid oversold technicals lend support in addition to weak dollar. Gains limited by good crop weather in the U.S.

CBOT-SOYOIL - July up 1.00 cent at 36.93 cents per lb. Support from soy and short-covering bounce after recent declines.

Oil World sees U.S. soyoil exports increasing sharply in coming months as domestic biodiesel production stalls.

FCPO-KUALA LUMPUR, June 23 (Reuters) - Most vegetable oil markets rebounded on Tuesday with palm oil erasing most of its losses made the day before as hopes of better exports and lingering fears of tight supplies boosted sentiment.

Malaysian palm oil <0#KPO:> jumped 6 percent to close at 2,286 ringgit ($645). U.S soyoil for July shipment climbed 1.5 percent and the most-traded January 2010 soyoil contract on Dalian's Commodity Exchange narrowed earlier losses.

REGIONAL EQUITIES-BANGKOK, June 23 (Reuters) - Most Southeast Asian stock markets tumbled to around a one-month low on Tuesday, with energy and commodity stocks such as Singapore's Wilmar, Thailand's PTT and Malaysia's Sime Darby among the decliners.

Singapore's index <.FTSTI> ended down 1.8 percent at its lowest since May 22, with palm plantation firm Wilmar International and smaller peer Golden Agri Resources each sliding more than 2 percent.

Malaysia's index <.KLSE> inched down 0.1 percent, recouping most of an early 1.7 percent fall to its lowest since May 20, with palm planter Sime Darby down 1.5 percent and financial Bumiputra Commerce down 3.3 percent.

DJI Daily: No improvement

No improvement signs as market still continue to lose ground. We are now looking for the downside support at 8200-8000. Violation of it may provide more downside room. To the upside, resistance is at 8600-8800.

KLSE Daily: May move in sideways

Market managed to lend some support to recover after tested 1035-1030 in intra-day basis. Hence, we now looking for immediate support at 1028. While, upside resistance is stood at 1050-1060.

FKLI Daily: Found immediate base at 1030.

Market found a immediate base at 1030 and looks pretty well support. Thus, market may enter to a consolidation zone in near term. We continue to look for the immediate support at 1030 followed by 1000. To the upside, resistance is at 1055-1060.

FCPO Daily: Potential of bullish reversal

Unexpected bullish engulfing candle printed had helped to cushion the market downside momentum. A strong rebound signals a potential of bullish reversal. Thus, bear may take a breathe after the recent sell down and may due for consolidation in near term. As for now, we are looking for the downside support at 2149 followed by 2120-2100. To the upside, resistance is at 2320-2350

Trader's Comment: Palm oil futures made an unexpected “U Turn” as it bounced back strongly from yesterday’s heavy losses on aggressive covering.

Palm oil futures made an unexpected “U Turn” as it bounced back strongly from yesterday’s heavy losses on aggressive covering. Benchmark Sep09 opened only slightly lower at 2150 despite the overnight NYMEX crude oil closed sharply lower. It then began to rise strongly through out the day until it hit the intra day high of 2299 before finally ended RM129 higher at 2286. Aggressive short covering activities were seen since early trading, as traders believed that yesterday’s market sold down had been overdone. External markets were rather volatile and mix today. Dalian palm inched lower while eCBOT soy oil edged more than 1% higher. Meanwhile, Asian time crude oil had been hovering around USD67 level.

Trader's Comment: Palm oil futures posted 3 digit losses to tumble more than 5% lower on weaker external market.

Palm oil futures posted 3 digit losses to tumble more than 5% lower on weaker external market. Benchmark Sep09 immediately gapped down RM39 to open at 2246 following overnight NYMEX crude oil down more than 2%. It merely hit the intra day high of 2265, unable to cover fully on its previous session left over gap and there after started to fell through out the rest of the day until it finally ended RM128 lower at 2157. The bearish external markets had weighed on the already fundamentally weak CPO market as palm oil production is expected to be much higher in the second half of the year. Asian time NYMEX crude oil extended its overnight sharp losses to fall more than $1 trading below $69 and led Dalian palm and eCBOT soy oil to follow suit, as both fell more than 1%. The results of 1-20 June export data released by both private cargo surveyors were within the market expectation after ITS & SGS reported a decline of 3.4% and 4.1% respectively.

Trader's Highlight

DJI-NEW YORK, June 22 (Reuters) - U.S. stocks suffered their worst one-day loss in two months, dropping the S&P 500 back into negative territory for the year on Monday in a broad-based sell-off, as investors reconsidered the health of the economy

Underscoring worries about the economy's outlook, the World Bank said prospects for the global economy remain "unusually uncertain" as it cut 2009 growth forecasts for most economies.

The Dow Jones industrial average <.DJI> dropped 200.72 points, or 2.35 percent, to end at 8,339.01. The Standard & Poor's 500 Index <.SPX> was down 28.19 points, or 3.06 percent, at 893.04. The Nasdaq Composite Index <.IXIC> was down 61.28 points, or 3.35 percent, at 1,766.19.

NYMEX-NEW YORK, June 22 (Reuters) - U.S. crude oil futures fell on Monday, slumping almost 4 percent as a stronger dollar, weaker equities and liquidations as front-month July contract headed to expiration combined to pressure oil prices.

On the New York Mercantile Exchange, July crude expired and settled down $2.62, or 3.77 percent, at $66.93 a barrel, trading from $66.25 to $69.89. The day's low was the lowest since June 4's $65.92.

CBOT-SOYBEANS - July down 27-1/2 cents at $11.51-1/2 a bushel. November down 25 cents at 9.81 a bushel.

Soybeans fell to near four-week low as weak-handed longs bail with weak crude oil futures, improved crop weather, and prospects for jump in U.S. soy acreage.

CBOT-SOYOIL - July down 0.60 cent at 35.93 cents per lb. Weak crude, soybeans pressuring market.

FCPO-KUALA LUMPUR, June 22 (Reuters) - Malaysian crude palm oil futures dropped as much as 5.1 percent on Monday as weaker oil prices weighed on global vegetable oil markets.

The benchmark September contract on the Bursa Malaysia Derivatives Exchange fell 116 ringgit to 2,169 ringgit ($613) per tonne.

REGIONAL EQUITIES-BANGKOK, June 22 (Reuters) - Most Southeast Asian stock markets fell on Monday, with losses in energy-linked heavyweights such as Sime Darby helping push Malaysia to a three-week low and PTT Exploration and Production leading falls in Thailand.

Malaysia's main stock index <.KLSE> dropped 1.3 percent, after earlier falling as much as 1.8 percent to its lowest since May 29, with Sime Darby sliding 2.1 percent and Petronas Gas off 1 percent.

Singapore's index <.FTSTI> inched down 0.3 percent, erasing a 1.35 percent gain to a one-week high in morning trade. The Jakarta index <.JKSE> fell 0.8 percent, with Bank Rakyat down 3.3 percent and Adaro Energy off 4.8 percent. Vietnam <.VNI> fell for a second day, ending down 3.6 percent, led by a 5 percent fall in PVFC , the financial arm of state oil group Petrovietnam.

DJI Daily: Cautious

Market losing ground with a triple digit losses. We are now looking for the downside support at 8200-8000. Violation of it may provide more downside room. To the upside, resistance is at 8600-8000 followed by 9000.

KLSE Daily: Weak

Market momentum turns weak and looks more room to bias downside potential. Currently, we are looking for the immediate support 1035-1030 followed by 1000. While, upside resistance is stood at 1060-1065.

FKLI Daily: More downside potential

Market continue to losing streak following the violation of 1045-1050 had further dampened the immediate landscape. Thus, we foresee more potential of downside room in near term market. We are now looking for the immediate support at 1035-1030 followed by 1000. To the upside, resistance is at 1065-1070.

FCPO Daily: Bear dominated

Bear is dominated the market momentum with clouded by a long black candle. Market looks likely to extend its bearish territory in near term. Currently, we are looking for the downside support at 2120-2100 followed by 2060-2050. To the upside, resistance is at 2265-2274 (gap left over on 22/6/2009)

Breaking News-RTRS-China seen selling soy reserves in July, Aug -survey

BEIJING, June 19 (Reuters) - Chinese crushers did not increase soy imports much this week, anticipating ample supplies until August when a possible release of state soy reserves could make up for lower imports, according to an official think-tank.
The expectation on state sales by the China National Grain and Oils Information Center (CNGOIC) was reflected in prices on the Dalian soy futures market <0#DCC:>, which failed to follow the strong gains at the Chicago Board of Trade <0#S:> over the past week.

Trader's Highlight

DJI-NEW YORK, June 19 (Reuters) - The S&P 500 and Nasdaq rose on Friday as positive broker comments on Microsoft boosted technology shares, but the major averages lost ground for the week for the first time in five weeks.

The Dow Jones industrial average <.DJI> fell 15.87 points, or 0.19 percent, to 8,539.73. But the Standard & Poor's 500 Index <.SPX> added 2.86 points, or 0.31 percent, to 921.23. And the Nasdaq Composite Index <.IXIC> rose 19.75 points, or 1.09 percent, to 1,827.47.

NYMEX-NEW YORK, June 19 (Reuters) - U.S. crude oil futures ended lower for the first time in three days on Friday, pressured by a sell-off in gasoline futures.

On the New York Mercantile Exchange, July crude settled down $1.82, or 2.55 percent, at $69.55 a barrel, trading from $68.90 to $72.30.

CBOT-SOYBEANS - July down 6-3/4 cents at $12.07 a bushel. Market setting back from three days of gains.

Thunderstorms expected during the next 2 days around the Midwest seen as beneficial to recently seeded soybeans but will delay farmers in Illinois and Indiana who need to finish planting.

CBOT-SOYOIL - July down 0.01 cent at 36.94 cents a lb. Following weakness in soymeal, soybean futures but strength in crude oil limits downturn.

FCPO-JAKARTA, June 19 (Reuters) - Malaysian palm oil futures ended softer on Friday for the third consecutive day, touching a new 10-week intraday low, as worries over slow exports overcame support from gains in oil and soybean markets, traders said.

The benchmark September contract on the Bursa Malaysia's Derivatives Exchange settled down 14 ringgit, or 0.61 percent to 2,285 ringgit ($647) a tonne after trading as high as 2,318 ringgit and hitting a low of 2,274 ringgit, a level unseen since April 10. Overall volume was 10,668 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, June 19 (Reuters) - Major Southeast Asian stock markets rose on Friday as index heavyweights attracted bargain hunters, with Singapore ending a six-day fall and Thai stocks up after interest rate comments from the Bank of Thailand.

Markets in the region tracked improving sentiment elsewhere in Asia as U.S. factory and jobs data provided more evidence that the global economy was starting to recover from its deep recession.

A U.S. Federal Reserve policy meeting next week may provide such a trigger, with signals on the economy.

Singapore's Straits Times Index <.FTSTI> rose 1.6 percent. Malaysia's index <.KLSE> gained 0.5 percent after a three-day fall of 3.4 percent. Among Southeast Asia stock indices, Malaysia suffered the smallest fall of 2.8 percent on the week, followed by a 4.4 percent drop in Singapore.

The Philippines and Vietnam bucked the trend. Manila <.PSI> fell for a fourth day, ending down 1.5 percent, Vietnam <.VNI> fell 0.9 percent after a two-day rise.

DJI Weekly: Remains in sideways posture

Market maintains its posture in sideways manner. Thus, we continue to look for the resistance at 9000-9200, while downside support is pegged at 8200-8000.

KLSE Weekly: Losing upside momentum

Market is losing its upside momentum following a long black candle printed. Currently, we are looking for the immediate support at 1050-1035 followed by 1000. While, upside resistance is stood at 1095-1100.

FKLI Weekly: tried to DEFEND

Bulls are trying to defend at above 1050 mark. Thus, a break below of the immediate support 1045-1050 may provide more downside room. Next support will be looking at 1035-1030 followed by 1000. To the upside, resistance is at 1092-1100.

FCPO Weekly: looks BEARISH

Violation of the physiological support at 2350 had dampened the overall technical landscape. Immediate outlook turns bearish with another long black candle posted for the week. We maintain lower view in near term market. As for now, we are looking of the upside resistance 2480-2500 followed by 2550-2600. To the downside, support is pegged at 2180-2120 followed by 2050.

Trader's Comment: Palm oil futures ended mix to easier after bargain hunting and pre-weekend covering limit the losses.

Palm oil futures ended mix to easier after bargain hunting and pre-weekend covering limit the losses. Trading was rather quiet in the morning session as Benchmark Sep09 hovered between 2318-2290 after opened RM11 higher at 2310. However, it became very choppy in the afternoon session as prices broke below the recent low of 2284 and hit intra day low at 2274 and tested couple of times. Nevertheless, the emerged of bargain hunters in these oversold market coupled with pre-weekend short covering activities had defended Benchmark Sep09 from dropping further. Prices kept on bounced back from intra day low until it finally ended RM14 lower at 2285. Dalian palm ended with 118 pt losses, the gains in Asian time NYMEX crude oil & eCBOT soy oil had also manage to lend some support to the CPO market. Market talk that 1-20 June export data somewhere around 790k tonnes.

Breaking News-RTRS-UPDATE 1-China buys 100,000 T soyoil as imports climb

SINGAPORE, June 18 (Reuters) - China bought around 100,000 tonnes of soybean oil from Argentina this week, roughly half of what it imports in a month, traders said on Thursday.
The deals were signed between $860 and $880 a tonne, including cost and freight, for cargoes which are scheduled to be shipped in August and September. "The prices were attractive and buyers made use of this opportunity," said one Singapore-based trader. "Some buyers are also booking in advance as they are concerned that there might be a squeeze in supplies in August and September before the U.S. crop comes into the market."

Trader's Highlight

DJI-NEW YORK, June 18 (Reuters) - The Dow and S&P 500 gained on Thursday, breaking a three-day losing streak, as data on the job market and regional manufacturing revived hopes that the recession-hit economy is stabilizing.

The Dow Jones industrial average <.DJI> rose 58.42 points, or 0.69 percent, to 8,555.60. The Standard & Poor's 500 Index <.SPX> gained 7.66 points, or 0.84 percent, to 918.37. The Nasdaq Composite Index <.IXIC> was off just 0.34 of a point,
or 0.02 percent, at 1,807.72.

NYMEX-NEW YORK, June 18 (Reuters) - U.S. crude oil futures ended higher on Thursday, as reassuring economic data on jobless benefit claims and regional manufacturing and a buoyant Wall Street combined to keep prices above $71 a barrel.

News that Royal Dutch Shell had halted some oil production in Nigeria following an attack by militants on its pipelines in Bayelsa state in the Niger Delta was also supportive, analysts said.

On the New York Mercantile Exchange, July crude settled up 34 cents, or 0.48 percent, at $71.37 a barrel, trading from $70.22 to $71.75. The contract expires on Monday.

CBOT-SOYBEANS - July up 7-1/2 cents at $12.13-3/4 a bushel.
Choppy market fluctuated between back and forth early in session. Soybeans receiving support from stronger-than-expected export sales and concerns about tight stocks.

CBOT-SOYOIL - July down 0.15 cent at 36.95 cents a lb. Soymeal/soyoil spreading weighs on soyoil prices.

FCPO-KUALA LUMPUR, June 18 (Reuters) - Malaysian palm futures tumbled as much as 3.8 percent to hit a 10-week low on Thursday as the prospect of slower Indian demand fuelled speculative selling.

The benchmark September contract on Bursa Malaysia's Derivatives Exchange dropped as much 91 ringgit to 2,284 ringgit ($646.8), a level unseen since April 10, before settling at 2,299 ringgit. Overall volume surged to 18,192 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, June 18 (Reuters) - Major Southeast Asian stock markets tumbled again on Thursday, with Jakarta sliding more than 3 percent and Singapore declining for a sixth day, weighed down

Malaysia <.KLSE> fell 1.5 percent after a 1.86 percent loss over the previous two days, Thailand <.SETI> and Indonesia <.JKSE> dropped for a fourth day, down 2.7 percent and 3.7 percent respectively, while Manila <.PSI> fell for a third day,
easing 0.3 percent.

by losses in heavyweight banking shares.
from the usual 10,000 lots.

DJI Daily: Still in sideways

Market remains in sideways move. Thus, we continue to look for the immediate downside support at 8200-8000.While, immediate resistance is stood at 8600-8650

KLSE Daily: Immediate outlook turns bearish

Immediate technical landscape turns bearish as 1055 level was violated. Currently, we are looking for the immediate support at 1050-1047 followed by 1035. While, upside resistance is stood at 1075.

FKLI Daily: Sell on strength

A long black candle printed tested the support at 1052.5 had again shaken the players confident. We are now looking for the immediate support at 1050, violation of it may provide more downside potential with next support is pegged at 1035-1030. To the upside, resistance is at 1075.

FCPO Daily: More downside potential

A significant breakout from the 2350 level had dampened further the immediate technical landscape. As mention earlier, more downside potential will be seen after the violation of 2350 physiological support. As for now, we are looking for the downside support at 2240-2200 followed by 2150-2120. To the upside, resistance is at 2400-2420.

Trader's Comment: Palm oil futures tumbled sharply lower to break below 2300 level.

Palm oil futures tumbled sharply lower to break below 2300 level. Initially, trading were rather nervous with weaker tone while prices approaching the underline support level of 2350, it hovered between 2355-2370 level through out most of the sessions in rather cautious and thin volume. However, the race looks like over when 2350 support level were broken below. Technical selling and stop loss selling were evident as Benchmark Sep09 immediately slid further and easily broke below the 2300 psychological support level until it hit intra day low of 2284 before it finally settled RM76 lower at 2299. Total daliy volume increased to 18,192 contracts changed hands. The weak external factors further enhanced the selling sentiment in the local CPO market. eCBOT soy oil had edged lower in late Asian time after its earlier mix trading, while Dalian palm also ended with losses.

Breaking News-RTRS-ANALYSIS-China seen scrapping US soy deals, but most will ship

CHICAGO, June 16 (Reuters) - An abrupt halt to China's U.S. soybean buying spree this spring followed by cancellations of some purchases has thrown into question the fate of some 1.3 million tonnes of soybeans bought but not yet shipped to the world's largest importer.
China has thus far scrapped only a small number of U.S. old-crop purchases but an expected slowdown in China's imports amid its now-abundant domestic supply will likely lead to more, traders and analysts said.

Breaking News-RTRS-China back in soy market for South American cargoes

BEIJING, June 17 (Reuters) - Chinese soy buyers have already booked as many as eight cargoes of soybeans from Argentina and Brazil this week, three China-based traders said on Wednesday, signifying the return of the world's largest importer to the market after a slowdown in orders.
The cargoes are due for shipment in August, they said. Eight cargoes would imply about 450,000-480,000 tonnes in the three days of the week. Last August China imported 3.8 million tonnes.

Breaking News-RTRS-US farmers unlikely to give up on soy despite rains

CHICAGO, June 16 (Reuters) - U.S. farmers are unlikely to forego seeding soybeans in the key growing states of Illinois and Indiana even as spring rains put planting weeks behind and cut into yield potential, crop specialists said on Tuesday.

Trader's Highlight

DJI-NEW YORK, June 17 (Reuters) - Technology shares buoyed the Nasdaq on Wednesday after positive broker comments on Qualcomm, but financial shares' losses held back the Dow and the S&P 500.

Banks were hurt by a broad debt ratings downgrade from Standard & Poor's and uncertainty over the government's extensive proposals for banking-industry reform.

Analysts said there were no surprises in President Barack Obama's plans to reshape financial regulation but uncertainty remained about the regulations' impact on the financial system and the wider economy.

The Dow Jones industrial average <.DJI> fell 7.49 points, or 0.09 percent, to 8,497.18. The Standard & Poor's 500 Index <.SPX> was off 1.26 points, or 0.14 percent, at 910.71. The Nasdaq Composite Index <.IXIC> gained 11.88 points, or 0.66
percent, to 1,808.06.

NYMEX-NEW YORK, June 17 (Reuters) - U.S. crude oil futures ended higher on Wednesday, climbing back above $71 a barrel in late trading, as traders took a second look at government data showing a higher-than-expected drawdown in crude stocks last week.

On the New York Mercantile Exchange, July crude settled up 56 cents, or 0.79 percent, at $71.03 a barrel, trading from $69 to $71.28.

CBOT-SOYBEANS - July up 5 cents at $12.06-1/4 a bushel.

Market receiving support from tight stocks. July/November spread weakening due to planting delays that could limit new crop. Deferred contracts leading front-month higher.

There was talk that China released 5 million tonnes of soybeans out of its state reserves.

CBOT-SOYOIL - July up 0.14 cent at 37.10 cents a lb. Rally in crude oil prices lends support to soyoil.

FCPO-KUALA LUMPUR, June 17 (Reuters) - Malaysian palm futures dropped 1 percent on Wednesday, moving towards the previous day's 2-month low as demand concerns resurfaced in the market.

The benchmark September contract on Bursa Malaysia's Derivatives Exchange settled down 25 ringgit to 2,375 ringgit ($672.8) per tonne. The contract dropped to 2,358 ringgit per tonne on Tuesday, a level unseen since April 17. Overall volume stood at 12,464 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, June 17 (Reuters) - Southeast Asian stock markets
fell on Wednesday as investors took profits from a recent rally in financial and telecom shares, with Singapore's DBS, Malaysia's Axiata and Indonesia's Bank Central Asia among losers.

Doubts about the global economic recovery fuelled the sell-off and dealers said the selling would continue.

Singapore's main stock index <.FTSTI> fell for a fifth day, ending down 0.7 percent at a three-week low, Malaysia <.KLSE> and Indonesia <.JKSE> both lost 0.3 percent, while the Philippines <.PSI> dropped 2.9 percent.

Thailand's SET Index <.SETI> lost 1.7 percent, extending its fall into a third day, but Vietnam <.VNI> bucked the trend, eking out a small gain of 0.11 percent.

DJI Daily: Losing ground further

We continue to look for the immediate downside support at 8200-8000.While, immediate resistance is stood at 8600-8650

KLSE Daily: still consolidate

Nothing much improvement on the immediate technical landscape as consolidation looks likely to extend in near term. As for now, we continue to look for the resistance at 1083-1086 (gap left over on 16/6/2009). Downside support is pegged at 1066-1063 (gap left over since 5/6/2009) followed by 1055.

FKLI Daily: remains in consolidation phase

Market had slowing down its upside move and entering to a healthy consolidation phase. As for now, we are looking for the upside resistance at 1080-1085 followed by 1092. Downside support is adjusted to 1065-1060 followed by 1055-1050.

FCPO Daily: Range trading likely to continue

Market looks likely to extend its range trading in near term as prices continue to stuck in between 2350 to 2450.

Trader's Comment: Palm oil futures gave back yesterday’s gains on lower crude oil.

Palm oil futures gave back yesterday’s gains on lower crude oil. Benchmark Sep09 initially traded in between 2412-2382 level through out the morning session after opened unchanged at 2400. In the second session it resumed trading with steady tone and hit 2414. However. Prices began to ease and lose ground following Asian time NYMEX crude oil surrendered its earlier gains to trade below $71 level. Prices then hit intra day low at 2363 before it ended RM25 lower at 2375. Dalian palm ended inching lower while eCBOT soy oil edged higher today. Market continue to trade in sideways on cautious mode, due to lack of fresh leads and confusing factors.

Breaking News-RTRS-U.S. soyoil exports to rise further -Oil World

HAMBURG, June 16 (Reuters) - U.S. soyoil exports are likely to rise further in coming months because of scarce South American export supplies caused by poor soybean crops and rising biofuel production, Hamburg-based oilseeds analysts Oil World forecast on Tuesday.
"South American soyoil stocks are below the year-ago level at the moment and competition between the export market and biodiesel producers will keep inventories relatively low in coming months," it said.

Breaking News-RTRS-Global soybean supplies to remain tight -Oil World

HAMBURG, June 16 (Reuters) - Global soybean supplies will remain tight in coming months, despite a large crop looming in the United States this summer, Hamburg-based oilseeds analysts Oil World forecast on Tuesday.
"Soybeans will remain in very short supply in Sept/Feb 2009/10...even if U.S. production increases by 8.0 million tonnes to a record 88.5 million tonnes, which we currently forecast," it said.
The likely increase in northern hemisphere crops this summer will be offset by a major reduction in global season opening 2009/10 soybean stocks on Sept 1, 2009, largely caused by smaller soybean harvests in early 2009 in Argentina and Brazil, it said.

Breaking News-RTRS-UPDATE 1-China 2009/2010 soy imports seen down 7.5 pct

BEIJING, June 16 (Reuters) - China, the world's largest soy importer, is likely to buy less from abroad in 2009/2010 partly because the government may release some of its large reserves, according to an official think-tank.
Imports for the year beginning October were likely to fall to 37 million tonnes, down 7.5 percent from 40 million tonnes projected for the current year, the China National Grain and Oils Information Centre said in a report.

Trader's Highlight

DJI-NEW YORK, June 16 (Reuters) - U.S. stocks slipped on Tuesday as mixed economic data and Best Buy's disappointing sales spurred worries about an anemic recovery. A rebound in May housing starts pointed to some stabilization in that sector, but another government report showed industrial production had a steeper-than-expected slide last month.

Indexes ended at session lows. The Dow Jones industrial average <.DJI> fell 107.46 points, or 1.25 percent, to 8,504.67. The Standard & Poor's 500 Index <.SPX> lost 11.75 points, or 1.27 percent, to 911.97. The Nasdaq Composite Index <.IXIC> was off 20.20 points, or 1.11 percent, to 1,796.18.

NYMEX-NEW YORK, June 16 (Reuters) - U.S. crude oil losses dropped further in post-settlement trading on Tuesday, after inventory data from the American Petroleum Institute showed that crude stocks fell less than expected last week.

The API said crude stocks fell 1.3 million barrels to 356.6 million barrels last week, gasoline stocks rose 2.1 million barrels to 207.7 million barrels and distillate supplies added 881,000 barrels to 151.5 million barrels.

The U.S. Energy Information Administration will release its data on Wednesday, at 10:30 a.m. EDT (1430 GMT).

On the New York Mercantile Exchange at 5:05 p.m. (2105 GMT), July crude was down 42 cents, or 0.59 percent, at $70.20 a barrel. It had settled down 15 cents, or 0.21 percent, at $70.47, trading from $69.80 to $72.77.

CBOT-SOYBEANS - July up 4-1/4 cents at $12.01-1/4 a bushel; November up 3-3/4 cents at $10.28-1/2.

Tight stocks, weaker dollar and worries about wet weather delaying soybean planting in key crop states of Illinois and Indiana underpin prices.

CBOT-SOYOIL - July up 0.34 cent at 36.96 cents per lb. Recent strength in crude oil supportive.

FCPO-KUALA LUMPUR, June 16 (Reuters) - Malaysian palm oil futures bounced from 2-month lows hit earlier on Tuesday as investors focused on the prospect of lacklustre palm oil output growth.

The benchmark September contract on Bursa Malaysia's Derivatives Exchange settled up 11 ringgit at 2,400 ringgit ($681.4) after going as high as 2,425 ringgit per tonne. Earlier on, the contract dropped to 2,358 ringgit per tonne, a level unseen since April 17.

REGIONAL EQUITIES-BANGKOK, June 16 (Reuters) - Southeast Asian stock markets
fell on Tuesday, worried about the pace of recovery in the global economy, with Singapore tumbling to near three-week lows while stocks in Jakarta and Bangkok slid close to two-week lows.

Singapore <.FTSTI> dropped 1.2 percent to its lowest since May 28, recouping part of an early 2.2 percent loss, while Indonesia <.JKSE> and Thailand <.SETI>, each earlier near two-week lows, fell 1.9 percent and 2.7 percent respectively.

Malaysia <.KLSE> snapped a four-day rally, falling 1.6 percent to its lowest since June 9, and Manila <.PSI> ended a three-day winning streak, down 1.6 percent.

DJI Daily: Weaken further

Immediate technical outlook weakened further following market tested the immediate support at 8500. Downside support is pegged at 8200-8000. Violation of it may prompted another round of technical selling interest. While, upside resistance is maintain at 8800-9000.

KLSE Daily: in Consolidation phase

A double digit losses had slowing down the market upward move. Market is entering into consolidation phase. As for now, we are looking for the resistance at 1083-1086 (gap left over on 16/6/2009). Downside support is pegged at 1066-1063 (gap left over since 5/6/2009) followed by 1055.

FKLI Daily: Healthy consolidation likely to extend

A healthy consolidation phase likely to extent in near term. We maintain the upside resistance at 1092-1100. While, downside support is adjusted to 1070-1060 followed by 1055-1050.

FCPO Daily: Struggling

Market is struggled to survive at 2400 mark and outlook remains hazy. A breakout of either 2350 or 2450 may provide us a more clearer direction in near term. Thus, we continue to look for the immediate support at 2350 followed by 2320-2300. To the upside, immediate resistance is at 2450 followed by 2500.

Trader's Comment: Palm oil futures ended marginally higher after recouped from its earlier losses on strengthening external markets.

Palm oil futures ended marginally higher after recouped from its earlier losses on strengthening external markets. New Benchmark Sep09 initially fell through out the morning session after opened almost unchanged, and then hit intra day low of 2358 before morning closed. However, CPO market began to gain back strength as external markets recovered strongly. Prices immediately gaped up to open at 2388 after second session resumed trading and continue to climb steadily until it hit intra day high of 2425, before it finally settled RM11 higher at 2400. eCBOT soy oil gained more than 2% in late Asian time trading while Dalian palm ended to inch higher. Asian time NYMEX crude oil also rebounded from its earlier losses to trade above $71 level. Meanwhile, short-covering activities also provided some support to the CPO prices.

Breaking News-RTRS-INTERVIEW-Malaysia palm output to stay weak for next 2 yrs

KUALA LUMPUR, June 16 (Reuters) - Palm oil output growth in Malaysia will stay weak for the next two years because an aggressive replanting scheme and hot weather will aggravate yield stress in oil palms, an industry regulator said on Tuesday.
But the extent of output softening hinges on the severity of the brewing El Nino weather condition, which has previously brought droughts to the world's No. 2 producer of the vegetable oil, Sabri Ahmad, chairman of the Malaysian Palm Oil Board (MPOB), said.

Trader's Comment: Palm oil futures ended sharply lower on bearish export data and worsening external markets.

Palm oil futures ended sharply lower on bearish export data and worsening external markets. Benchmark Aug09 gapped down RM15 lower at 2450 tracking the last Friday sharp losses in CBOT soy oil and NYMEX crude oil. Prices then continue to fall through out most of the sessions until it hit intra day low of 2375 before it finally settled RM65 lower at 2400. The released of the bearish export figure by both private cargo surveyors had given traders the excuse to sell down aggressively on FCPO prices. ITS & SGS had reported a decline of 10.2% and 9.4% respectively on the 1-15 June export data. Furthermore, the weak external markets had also further fueled the selling sentiment in the local CPO market. Asian time NYMEX crude oil continued to fall more than $1 to trade below $72 level. Dalian palm also ended 1.7% lower while eCBOT soy oil edged lower in late Asian time trading today. Lack of buying interest at the underlying cash market also weighed on prices.

Trader's Highlight

DJI-NEW YORK, June 15 (Reuters) - U.S. stocks tumbled, marking their worst slide in a month on Monday after regional manufacturing data dented optimism about the economy's health and resource shares fell alongside commodity prices.

The Dow Jones industrial average <.DJI> fell 187.13 points, or 2.13 percent, to 8,612.13. The Standard & Poor's 500 Index <.SPX> lost 22.49 points, or 2.38 percent, to 923.72. The Nasdaq Composite Index <.IXIC> dropped 42.42 points, or 2.28 percent, to 1,816.38.

NYMEX-NEW YORK, June 15 (Reuters) - U.S. crude oil futures ended down for a second straight session on Monday as the dollar strengthened and as concerns about economic recovery persisted after data showed that manufacturing slumped further in the
state of New York.

On the New York Mercantile Exchange, July crude settled down $1.42, or 1.97 percent, at $70.62 a barrel, trading from $69.58 to $72.35.

CBOT-SOYBEANS - July down 48-1/2 cents at $11.97 a bushel, November down 51-3/4 at $10.24-3/4.

Traders taking profits from recent rally to nine-month high amid firm dollar and improving growing weather. Monthly crush data supportive to Jul/Nov spread. July at a $1.72-1/4 premium to November.

National Oilseed Processors Association says soybean crushings were 142.2 million bushels in May, above trade expectations for 134.5 million to 139.4 million bushels.

Trade talk was China bought four to six cargoes of soybeans out of Brazil and Argentina during the weekend.

Traders expect USDA to report that U.S. soy planting is 90 percent complete. Soybean ratings were seen in a range of 65 to 68 percent good to excellent.

CBOT-SOYOIL - July off 0.54 cent at 36.62 cents a lb. Drop in crude oil and weakness in soybeans pressured soyoil prices.

NOPA said May soyoil stocks at 2.684 billion lbs, versus 2.710 billion in April.

FCPO-KUALA LUMPUR, June 15 (Reuters) - Malaysian palm oil futures tumbled as much as 3.7 percent to hit near two-month lows on Monday as weaker commodity prices across the board and demand concerns gripped the market, traders said.

The benchmark August contract on Bursa Malaysia's Derivatives Exchange fell as much as 90 ringgit to 2,375 ringgit ($673.9) per tonne, a level unseen since April 17, before settling at 2,400 ringgit. Overall volume shot up to 17,947 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, June 15 (Reuters) - Most Southeast Asian stock markets fell on Monday, with Singapore, Thailand and Indonesia approaching a one-week low as retreating oil prices pushed energy and commodity shares lower.

The Singapore index <.FTSTI> ended down 2.6 percent, Thailand's index <.SETI> dropped 2.7 percent, Indonesia <.JKSE> lost about 1 percent and Vietnam <.VNI>, Southeast Asia's best performer last week, fell 3.2 percent.

Bucking the trend, Malaysia's index <.KLSE> inched up 0.09 percent, with Maybank rising 2.5 percent and Bumiputra-Commerce climbing 1.1 percent.

DJI Daily: facing resistance at 8800-9000 mark

Market is losing ground to test the support at 8600 and looks is facing resistance at 8800-9000 level. Downside support adjusted to 8500 followed by 8200.

KLSE Daily: Upward posture remains good

Market maintains it upward posture with both resistance and support are pegged at 1100 and 1080-1070 level respectively.

FKLI Daily: may due for a healthy consolidation

Up-trend was pretty well maintain. However, market may due for a healthy consolidation phase in near term as technically show overbought. We continue to look for the upside resistance at 1092-1100. Downside support is pegged at 1075-1070 followed by 1065-1060.

FCPO Daily: looks tiredness

Immediate technical outlook looks tiredness and weakened further despite closing at 2400 mark. We are now looking for the immediate support at 2350, violation of it may provide more downside room. Next support will be looking at 2320-2300. To the upside, immediate resistance is at 2450 followed by 2500.

Trader's Highlight

DJI - NEW YORK, June 12 - The Dow moved into positive territory for the year for the first time since early January on Friday, lifted by defensive sectors like pharmaceuticals while a disappointing outlook from National Semiconductor weighed on technology stocks.

The healthcare sector rose as investors rotated money into defensive plays, which pushed the S&P 500 to a seven-month high. The AMEX Pharmaceutical index gained 1.2
percent.

Defensive plays are stocks of companies that tend to weather a recession better than others because their products -- such as food or toothpaste or drugs -- are things that people buy, even if they cut spending, in leaner times.

The Dow Jones industrial average gained 28.34 points, or 0.32 percent, to 8,799.26. The Standard & Poor's 500 Index gained 1.32 points, or 0.14 percent, to
946.21. The Nasdaq Composite Index dropped 3.57 points, or 0.19 percent, to 1,858.80.

NYMEX - NEW YORK, June 12 - U.S. crude oil futures ended lower on Friday as the dollar's rebound directed investment flow away from commodities, at least for the moment, and as traders took pre-weekend profits, snapping a three-day rally.

On the New York Mercantile Exchange, July crude settled down 64 cents, or 0.88 percent, at $72.04 a barrel, trading from $70.80 to $72.63. It settled on Thursday at $72.68, the highest close since Oct. 20's $74.25, after hitting an intraday high of $73.23, highest since Oct. 21's $75.69.

CBOT - SOYBEANS - July down 21-1/2 cents per bushel at $12.45-1/2. Profit-taking ahead of the weekend weighing on soybean futures in addition to pressure from firm dollar and lower crude oil. Forecasts for better crop planting and growing weather next week in the United States also weigh.

CBOT - SOYOIL - July down 1.04 cents per lb at 37.16. Lower crude oil and profit-taking combine to weigh on soyoil.

FCPO - JAKARTA, June 12 - Malaysian palm oil futures closed lower for a second straight day on Friday as worries over weak exports and a retreat in rival soybean and crude oil prices prompted long liquidation, traders said.

The benchmark August contract on the Bursa Malaysia's Derivatives Exchange settled down 20 ringgit, or 0.8 percent, to 2,465 ringgit ($712.04) per tonne. Overall volume was 16,137 lots of 25 tonnes each.

REGIONAL EQUITIES - BANGKOK, June 12 - Southeast Asian stock markets ended mixed on Friday, with lender DBS Group and developer Keppel Land pushing Singapore down for a second day, while bourses in Malaysia, Indonesia and Thailand inched higher.

Rising oil prices triggered concerns that inflation could
derail an economic recovery, analysts said.

Singapore inched down 0.2 percent, after a 0.4 percent loss on Thursday, while Vietnam fell 0.3 percent, reversing a 2.8 percent rise the day before.

Vietnam fared best for the week, rising 6.4 percent since Monday, followed by a four percent gain in Thailand.

Malaysia inched up 0.1 percent on Friday, adding to a 1.6 percent gain over the past two days. Indonesia edged up 0.06 percent, after a 0.9 percent fall on Thursday.

Trader's Comment: Palm oil futures ended lower on weak external markets.

Palm oil futures ended lower on weak external markets. Benchmark Aug09 immediately slid to morning low of 2477 after opened at intra day high at 2501. It was well supported initially as it hovers between 2484-2499 level through out the morning session. However, second session resumed with easier tone tracking external market, it was under selling pressure through out the second session. It then slid to intra day low of 2445 in late trading before it finally settled RM20 lower at 2465. The weakness in external markets had provided some selling pressure to the local CPO market today. Asian time NYMEX crude oil traded more than $1 lower at below $72 level while eCBOT soy oil and Dalian palm also edged lower.

Breaking News-RTRS-UPDATE 1-China May soy imports slip to 3.52 mln tonnes

BEIJING, June 11 (Reuters) - China's soybean imports slipped to 3.52 million tonnes in May, from 3.71 million tonnes in April, down 5.1 percent on the month but still 1.2 percent ahead of May 2008, official Customs figures showed on Thursday.
China's soy imports in the first five months of the year rose 27 percent from a year earlier to 17.38 million tonnes, according to the General Administration of Customs.