Trader's Comment: CPO futures ended higher after a range bound trading on the back of good export numbers.

CPO futures ended higher after a range bound trading on the back of good export numbers. Benchmark Jun09 had been hovering between 1997-1977 level through out most of the sessions before it hit intra day high of 2002 in late trading and finally settled RM30 higher at 2000. The released of unexpectedly good export data by both private cargo surveyors had provided some support to the local bourse. ITS reported a decline of merely 0.5% while SGS unexpectedly posted an increase of 5.4% for the end Mar export data. External factors were also supportive as both eCBOT soy oil and Dalian palm edged higher in Asian time trading. However, trading were rather thin as palyers were cautiously awaiting for new leads from the grains stock and planting report which is due to be released by USDA later tonight. Total volume stood at 9,742 contracts transacted.

CPO Tender Summary and Delivery Location as at March 2009

Breaking News-RTRS-U.S. corn supply seen larger, soy stocks shrinking

CHICAGO, March 27 (Reuters) - Reduced demand from livestock and poultry producers and overseas buyers led to a larger U.S. stockpile of corn compared with last year, analysts said ahead of the U.S. Agriculture Department's quarterly grain stocks report.
Wheat stocks were expected to be larger because of a sharp drop in exports, but soybean stocks were likely smaller due to strong demand for U.S. supplies amid drought concerns about the South American crop.
USDA will release its corn, soybean and wheat quarterly stocks figures on Tuesday morning.

Breaking News-RTRS-Argentine farmers end strike, vow to fight soy tax

BUENOS AIRES, March 27 (Reuters) - Argentine farmers wrapped up a week-long strike on Friday, vowing to lobby Congress to cut the soy export taxes that have fueled a bitter year-long conflict with the government.
Farmers in the agricultural powerhouse halted sales of soybeans, other crops and livestock for seven days, bringing local grains and cattle markets to a standstill and helping drive U.S. soy futures to a five-week high this week.
Despite the end of the strike, farm leaders said they would keep on fighting the soy levies as the country prepares for mid-term elections in June, seen as a key test for President Cristina Fernandez.

Trader's Highlight

DJI-NEW YORK, March 30 (Reuters) - U.S. stocks tumbled on Monday as two major U.S. automakers took a step closer to potential bankruptcy, and a spate of European bank rescues heightened concerns over the financial system's health, putting the brakes on a recent run-up.

In the latest efforts in its campaign to shore up the economy and struggling corporations, the U.S. administration forced out General Motors Corp's CEO, pushed Chrysler LLC toward a merger and threatened bankruptcy for both.

The Dow Jones industrial average <.DJI> lost 254.16 points, or 3.27 percent, to 7,522.02. The Standard & Poor's 500 Index <.SPX> tumbled 28.41 points, or 3.48 percent, to 787.53. The Nasdaq Composite Index <.IXIC> fell 43.40 points, or 2.81 percent, to 1,501.80.

NYMEX-NEW YORK, March 30 (Reuters) - U.S. crude oil futures settled more than 7 percent lower on Monday, pressured by a stronger dollar, stock markets weighed down by concerns about U.S. auto companies and banks, and worries about demand in the slowed economy.

On the New York Mercantile Exchange, May crude settled down $3.97, or 7.58 percent, at $48.41 a barrel, trading between $52.25 and $48.11, lowest since prices fell to $46.92 on March 18.

CBOT-SOYBEANS - May down 12-1/2 cents at $9.04-1/2 a bushel.

Firm dollar and tumbling stock market weighing on soy along with pressure from lower crude oil. News Argentine farmers ending a farmer strike also bearish for U.S. soy futures prices.

CBOT-SOYOIL - May off 0.38 cent at 32.04 cents a pound.

Lower crude oil and drop in U.S. stock markets lending pressure in addition to weight from firm dollar.

FCPO-KUALA LUMPUR, March 30 (Reuters) - Malaysian crude palm oil futures fell 1.0 percent on Monday amid lower crude oil prices and as traders awaited palm oil export numbers.

The benchmark June contract on the Bursa Malaysia Derivatives Exchange declined 20 ringgit to 1,970 ringgit ($539.3) per tonne. The contract fell 2.2 percent on Friday.

Other traded months dropped by between 27 and 60 ringgit. <0#KPO:>. Overall volume was 9,078 lots of 25 tonnes each, compared to the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, March 30 (Reuters) - Major Southeast Asian stock
markets fell to a one-week low on Monday amid crisis in the U.S. automobile industry, with Singapore leading the losses.

Singapore's benchmark index <.FTSTI> dropped 4.2 percent, earlier losing as much as 5 percent to its lowest since March 23, while Thailand's SET index <.SETI> slid 2.5 percent.

Malaysia's main index <.KLSE> ended down 1.8 percent at its lowest since March 23, with Sime Darby down 2.5 percent, Malayan Banking falling 6.0 percent and financial service group CIMB 2 percent lower.

DJI Daily: Looks tiredness

Market looks exhausted and may want to take a breathe after fail to challenge the tough resistance at 8000 mark. Downside support is pegged at 7300-7200.

KLSE Daily: Losing strength

Market was losing upside strength following support at 870-868 was violated completely. We are now looking for the upside resistance at 890. To the downside, support is pegged at 860-850.

FKLI Daily: Correction

Double top formation is exist following prices unable to break through the tough resistance at 895 level. Market looks may enter to a correction phase for near term. For upside, resistance is at 895. while, downside support is at 860-850.

FCPO Daily: Looks peakish

Market looks peakish after struggling around 2000 mark but still failed to stay firm. Thus, market may due for correction in near term. As for now, upside resistance is looking at 2000-2058. To the downside, support is remained at 1955-1950 followed by 1900-1890.