Trader's Comment: CPO futures ended broadly higher on pre-weekend covering after last 2 days of weak close.

CPO futures ended broadly higher on pre-weekend covering after last 2 days of weak close. Initially, Benchmark July09 slid to intra day low of 2322 on some follow through selling from yesterday’s weak closing. However, it then bounced back quickly as bargain hunting buying and aggressive short covering activities emerged. This saw Benchmark July09 prices broke 2400 easily in the morning session. It surged further to 2446 in the afternoon session and then hovering between 2440-2420 before it finally settled RM77 higher at 2435. Generally, the overall market was still supportive. Players were still chasing on supply tightness, as end stock were yet unable to build up in the coming months.

Breaking News-RTRS-China soy imports stay healthy, no delay worries

BEIJING, April 16 (Reuters) - China's soy imports have kept healthy on good crushing margins following a recovery of demand for soymeal and traders expect the momentum to last until June.
Chinese quarantine authorities in Guangdong have not interrupted any U.S soy cargoes after inspectors found disease in 10 batches of samples over the past three months, said one trading manager in a major crusher in Guangzhou.

Breaking News-RTRS-POLL-US soy prices to gain another dollar by summer

CHICAGO, April 16 (Reuters) - U.S. soybean futures, already at their highest
level in six-months, are expected to tack on another dollar per bushel by this
summer as China keeps buying and supplies in the United States keep dwindling, A
Reuters poll of analysts and traders showed.

Trader's Highlight

DJI-NEW YORK, April 16 (Reuters) - U.S. stocks surged on Thursday as expectations of reassuring results from bellwethers, including Google, lifted technology shares, while JPMorgan's better-than-expected profit added to bank stabilization hopes.

The Dow Jones industrial average <.DJI> rose 95.81 points, or 1.19 percent, to 8,125.43. The Standard & Poor's 500 Index <.SPX> gained 13.24 points, or 1.55 percent, to 865.30. The Nasdaq Composite Index <.IXIC> jumped 43.64 points, or 2.68
percent, to 1,670.44.

NYMEX-NEW YORK, April 16 (Reuters) - U.S. crude futures ended higher on Thursday, just below $50 a barrel, as traders dealt with the expiration of options on the front May contract.

On the New York Mercantile Exchange, May crude settled up 73 cents cents, or 1.48 percent, at $49.98 a barrel, trading from $49.11 to $50.48.

CBOT-SOYBEANS - May up 23-1/2 cents at $10.58-1/2 per bushel.

Rallies to new six-month high of $10.59 per bushel amid strong demand for soy by China and shrinking supplies, in addition to support from news late on Wednesday that the Buenos Aires Grains Exchange trimmed its estimate for Argentine soy output for this year to 37 million tonnes, from a previous estimate of 39.4 million.

CBOT-SOYOIL - May down 0.20 cent per lb. at 36.75 cents per lb.

Profit-taking after big gains early in the week weighing on market, but soyoil underpinned by gains in soy.

FCPO-KUALA LUMPUR, April 16 (Reuters) - Malaysian palm futures fell 1.7 percent on Thursday as traders paused to take profits from a rally triggered by expectations of lower domestic inventories and strengthening global soyoil markets.

The benchmark July contract on the Bursa Malaysia Derivatives Exchange settled down 40 ringgit at 2,358 ringgit ($655) per tonne after posting gains in the morning session.

Other traded months rose between 30 and 75 ringgit while the November contract inched up <0#KPO:>. Overall volume climbed to 16,116 lots from the normal 10,000 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, April 16 (Reuters) - Southeast Asian stock markets ended mixed on Thursday, some losing early gains after downbeat economic data from China, and political violence pushed Thailand
lower after a holiday, but not by as much as some had feared.

Singapore's benchmark Straits Times Index <.FTSTI> fell 0.8 percent. In Kuala Lumpur, Malaysia's benchmark stock index <.KLSE> rose 0.5 percent, with biggest power firm Tenaga Nasional surging 6.2 percent after it announced second-quarter earnings that were above expectations. In Jakarta, the main index <.JKSE> rose for a fourth day, up nearly 2 percent at its highest since Oct. 7.

DJI Daily: improve a little

Market improved a little as 8100 tested. However, it was not enough to change the immediate daily technical outlook. Thus,we maintain our sideways view in near term market. To the upside, resistance is at 8200-8400. Downside support remains at 7700 level.

KLSE Daily: still looking good....

Upward momentum remains intact following resistance at 961-965 was violated. As for now, we continue to look for the resistance at 970-975. Meanwhile, downside support is maintain at 936 followed by 925-922 (gap leftover on 10/4/2009).

FKLI Daily: Bull took a breathe

Bull took a breathe after the recent sharp rebound as market gave up all its early gains to end negatively. As for now, upside resistance is at 974. To the downside, support is pegged at 942.5-940 followed by 931-928 (gap left over on 10/4/2009).

FCPO Daily: Correction mode likely to continue

Market appears reversal signal with a long black candle printed at the higher end. Thus, correction mode is likely to continue in near term. We are now looking for the upside resistance at 2540. To the downside, support is pegged at 2315-2300 followed by 2280-2250.