Trader's Comment: CPO futures ended its previous 4-day winning streaks to close lower on profit taking.

CPO futures ended its previous 4-day winning streaks to close lower on profit taking. Higher prices seen in eCBOT soy complex during early Asian time trading had given traders the opportunity to book profit when Benchmark Jun09 hit the intra day high of 2196 after opened RM16 higher at 2181. However, the strong external factors failed to give a boost on the sentiment of local CPO market due to lack of follow through buying activities. CPO prices began to ease off slowly through out the day until it hit intra day low at 2126 in the late afternoon session. It finally settled RM20 lower at 2145. Rival soy oil edged higher while NYMEX crude oil gained more than 1% in Asian time trading.

Breaking News-RTRS-Indonesia says may lower threshold for palm oil tax

JAKARTA, April 6 (Reuters) - Indonesia may lower the threshold price for taxing crude palm oil exports from $700 per tonne in order to discourage exports of the commodity and ensure adequate domestic supplies, an official said on Monday.
"There is a possibility that we may impose tax even if the reference price is lower than $700" per tonne, said Bayu Krisnamurthi, a deputy to the chief economic minister.

Breaking News-RTRS-Argentina exchange cuts soy crop view to 39.4 mln T

BUENOS AIRES, April 3 (Reuters) - Argentina's 2008/09 soy production is seen falling to 39.4 million tonnes, the Buenos Aires Grains Exchange said on Friday, cutting its previous estimate of 41.2 million tonnes.

Trader's Highlight

DJI-NEW YORK, April 3 (Reuters) - U.S. stocks rose on Friday, with the Dow marking its best four-week winning streak since 1933, lifted by robust results from Research in Motion and comments by Fed Chairman Ben Bernanke, who said the central bank will do everything it can to stabilize banks.

Growing conviction that the worst is over for the economy helped Wall Street shrug off dour jobs data showing the highest unemployment rate since 1983.

The Dow Jones industrial average <.DJI> climbed 39.51 points, or 0.50 percent, to 8,017.59. The Standard & Poor's 500 Index <.SPX> rose 8.12 points, or 0.97 percent, to 842.50. The Nasdaq Composite Index <.IXIC> gained 19.24 points, or 1.20 percent, to 1,621.87.

NYMEX-NEW YORK, April 3 (Reuters) - U.S. crude oil futures ended slightly lower on Friday, clawing their way back from the day's low near $51, as Wall Street bounced following an early slide on gloomy jobs data.

On the New York Mercantile Exchange, May crude settled down 13 cents, or 0.25 percent, at $52.51 a barrel, trading from $51.02 to $53.90.

CBOT-SOYBEANS - May up 18-1/2 cents at $9.95-1/2 per bushel.

Tight stocks of soy, low soy yields in South American soy harvest, big export sales of U.S. soy and lingering support from Tuesday's bullish USDA 2009 U.S. soy plantings estimate.

CBOT-SOYOIL - May up 0.22 cent at 35.32 cents per lb. Late surge in soy boosted soyoil.

FCPO-KUALA LUMPUR, April 3 (Reuters) - Malaysian palm oil futures firmed on Friday after hitting a new six-month high in the previous session as traders shifted focus towards an imminent global vegetable oil squeeze.

The benchmark June contract on the Bursa Malaysia Derivatives Exchange settled up 6 ringgit to 2,165 ringgit ($604.7) per tonne after going as high as 2,185 ringgit.

Other traded months were either marginally higher or lower <0#KPO:>. Overall volume doubled to 20,314 lots of 25 tonnes each, compared with the normal 10,000 lots.

REGIONAL EQUITIES-BANGKOK, April 3 (Reuters) - Southeast Asian stock markets
closed higher on Friday, cheered by news from the London G20 summit and improving U.S. data.

Singapore's Straits Time Index <.FTSTI> rose as much as 1.4 percent to 1,827.84, a level unseen since Jan. 9, before closing 0.97 percent higher, while Malaysia's main stock index <.KLSE> ended up 0.21 percent at an 11-week high.

Thailand's SET index <.SETI> erased early losses caused by political concerns and rose 0.7 percent to a seven-week high, and Indonesia's main index <.JKSE> rose 0.8 percent to its highest since October last year before closing flat.

DJI Weekly: Potential of more upside room

Potential of more upside room following market crack above 8000 mark. We are now looking for the upside resistance at 8300-8400 followed by 8600. To the downside, support is pegged at 7400-7200.

KLSE Weekly: Rally likely to continue

Market managed to breakout and stayed firm at 900 mark had again prove to us that bull won the battle and likely to continue its fighting spirit. As for now, upside resistance is stood at 920-936 followed by 963. While underline support is pegged at 835-830.

FKLI Weekly: Bottoming out

Market is bottoming out following a double bottom formation. Immediate technical outlook turns bullish with upside resistance stood at 925-937 followed by 942.5. Downside support is pegged at 835-830.

FCPO Weekly: Firm support at 2000 mark

Market surged after violated the previous high at 2058. A long white candle printed had definitely beautify the whole weekly landscape. Thus, market likely to move higher in near term. As for now, we look for the upside resistance at 2200-2300. While, downside support is pegged at 2000 followed by 1900-1890.