Trader's Comment: Palm oil futures surrendered its earlier gains on weaker export figures.

Palm oil futures surrendered its earlier gains on weaker export figures. Benchmark May09 fell to 1971 after it opened almost unchanged, following the release of export data last Saturday by private cargo surveyor, ITS which reported a decline of nearly 12%. Initially it was still well supported as it rebounded again to a new recent high at 2017 before trading on BMD halted by midday on technical problem. Nevertheless, market sentiment in the afternoon session immediately changed when another private cargo surveyor SGS released its export data which also reported a lower by 13%. Benchmark May09 was unable to hold and immediately fell to the low of 1932. It then bounced back to hover between 1948-1968, before another wave of late selling activity emerged which hammered the prices down to 1920 and settled RM72 lower at 1922. There was no trading in eCBOT today as US markets are closed on Monday for the President’s Day.

Breaking News-RTRS-UPDATE 1-Argentine farm groups say postpone strike

BUENOS AIRES, Feb 12 (Reuters) - Argentine farms groups said on Thursday they postponed a planned strike against government agricultural policies and appealed to President Cristina Fernandez to hold talks aimed at ending the standoff.

Trader's Highlight

DJI-NEW YORK, Feb 13 (Reuters) - Hopes for the implementation of government stimulus packages rekindled some global appetite for risk on Friday, encouraging investors to move out of safe-haven government bonds and gold, although Wall Street slipped on renewed banking sector fears.

The Dow Jones industrial average <.DJI> finished down 82.35 points, or 1.04 percent, at 7,850.41, while the Standard & Poor's 500 Index <.SPX> lost 8.35 points, or 1.0 percent, at 826.84. The Nasdaq Composite Index <.IXIC> declined 7.35 points, or 0.48 percent, at 1,534.36.

NYMEX-NEW YORK, Feb 13 (Reuters) - U.S. crude oil futures ended up more than 10 percent on Friday, on hopes that passage of a U.S. economic stimulus package expected to be completed later in the day will help halt an oil demand slowdown.

On the New York Mercantile Exchange, March crude settled up $3.53, or 10.39 percent, at $37.51 a barrel, trading from $33.81 to $38.25. For the week, the contract was down $2.66, or 6.62 percent.

NYMEX April crude ended at $41.97, down 20 cents, or 0.47 percent, its premium over March crude shrinking to $4.46, from $8.19 at the close on Thursday.

NYMEX will be closed on Monday for the U.S. Presidents Day holiday and will reopen on Tuesday. Electronic trading on CME Globex and NYMEX Clearport are unaffected and will run on the
normal schedule.

CBOT-SOYBEANS - March down 13 cents to $9.55-1/2 a bushel.

Turned lower as rain forecast for Argentine triggering sales. Also bearish was Argentine farmers postponing strike against the government -- a move that could have impacted exports.

National Oilseed Processors Association to issue January crush data on Tuesday.

CBOT-SOYOIL - March up 0.17 cent to 33.00 cents a lb. Firm, gaining on soymeal after palm oil rallies.

FCPO-KUALA LUMPUR, Feb 13 (Reuters) - Malaysian crude palm futures jumped as much as 3.7 percent to hit 5-week highs on Friday as investors took positions on fears drought conditions may worsen in rival soyoil-producing Argentina.

Benchmark April contract settled up 67 ringgit at 1,995 ringgit ($552.3) per tonne, after going as high as 2,000 ringgit, a level unseen since Jan. 7.

Other traded contracts gained between 25 and 130 ringgit <0#KPO:>. Overall volume shot up to 15,176 lots of 25 tonnes each from the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, Feb 13 (Reuters) - Most Southeast Asian stock
markets turned higher on Friday, led by financials and property shares such as UOB and Capitaland, with the Thai market also helped by demand for energy blue chips.

Singapore's Straits Times Index <.FTSTI> rose 1.2 percent, Indonesia <.JKSE> climbed about 1 percent, Thailand <.SETI> added 1.2 percent and Malaysia <.KLSE>, the best performer in the region so far this year, was up 1.7 percent.

DJI Weekly: Tight range trading likely to continue

Market likely to continue its range trading in near term. We are now looking for the resistance and support at 8300-8400 and 7449 level respectively.

KLSE Weekly: Sideways to bias upside potential

Market violated the 900 mark and stayed firm. Looks market may continue to move sideways to bias upside potential with upside resistance is now looking at 920-925 followed by 936. Downside support is pegged at 874-868.

FKLI Weekly: 900 mark manage to hold?

Market tried hard to sustain above the 900 mark. Immediate technical outlook looks little improving following another week of good closing. However, market need to gather more effort in order to continue survive above 900 mark. For now, we look at the resistance at 925-927 followed by 937. while, downside support is at 875-870.

FCPO Weekly: Holding firm with bias upside potential

Market tested the 2000 mark after violated the resistance at 1998 had strengthened further the technical landscape. Market looks may want to continue challenge the upside target at 2058 in near term. For downside, support is pegged at 1740-1720.