Tuesday, June 16, 2009

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.