Trader's Comment: Palm oil futures ended lower on profit taking.

Palm oil futures ended lower on profit taking. Benchmark Aug09 had been trading within the range of 2656-2607 through out most of the sessions. The bullish results of export figures released by both private cargo surveyors had not led to higher price movement as the news were within market expectation. ITS and SGS reported an increase of 7.9% and 10.7% respectively on the 1-20 May export data. The emerged of late profit taking activities saw Benchmark Aug09 to slid further to intra day low of 2588 before settling RM28 lower at 2602. Generally, market may likely to consolidate in the near future.

Breaking News-RTRS-Informa pegs US soy ending stocks 77 mln bu-trade

CHICAGO, May 19 (Reuters) - Memphis-based analytical firm Informa Economics has pegged 2008/09 U.S. soybean ending stocks at 77 million bushels, below USDA's forecast in May for 130 million, trade sources said.

Trader's Highlight

DJI-NEW YORK, May 19 (Reuters) - The Dow and S&P 500 slipped on Tuesday as financial shares sank and on disappointing housing data, but the Nasdaq rose as investors snapped up technology shares ahead of results from Hewlett Packard .

After a choppy session, financial shares fell as the U.S. Senate passed a bill to curb sudden credit card interest rate increases and hidden fees, a move that analysts said would hurt the profits of major credit card issuers.

The Dow Jones industrial average <.DJI> fell 29.23 points, or 0.34 percent, at 8,474.85. The Standard & Poor's 500 Index <.SPX> lost 1.58 points, or 0.17 percent, at 908.13. The Nasdaq Composite Index <.IXIC> added 2.18 points, or 0.13 percent, at 1,734.54.

NYMEX-NEW YORK, May 19 (Reuters) - U.S. crude oil futures firmed above $60 a barrel in post-settlement trading on Tuesday after the American Petroleum Institute said that domestic crude stocks fell much more than expected last week.

On the New York Mercantile Exchange, at 4:55 p.m. EDT (2055 GMT), the new NYMEX front month crude contract, July , was up 82 cents, or 1.38 percent, at $60.41. It had settled earlier up 51 cents, or 0.86 percent, at $60.10, trading from $58.93 to $60.99.

CBOT-SOYBEANS - July up 15-1/2 cents at $11.62 per bushel.

Rallies to 7-1/2-month high with tight soybean stocks, continued active soy buying by China and fund buying combining to lift soybean futures.

Informa Economics pegs US soy ending stocks for 2008/09 at 77 million bushels, below USDA's outlook for 130 million. - trade sources [ID:nN19412161]

CBOT-SOYOIL - July up 0.01 cent per lb at 38.17 cents. Following soybeans and gains in crude oil.

FCPO-JAKARTA, May 19 (Reuters) - Malaysian palm futures rose 2.3 percent on Tuesday to end a three-day losing streak, pulling back from a two-week low, ahead of export figures expected on Wednesday, traders said.

The benchmark August contract rose 60 ringgit to 2,630 ringgit ($745.46) per tonne, after losing 8.2 percent in previous three days. Overall volume was 17,599 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, May 19 (Reuters) - Southeast Asian stock markets
posted healthy gains on Tuesday, with banks, property and energy shares such as CapitaLand, Maybank and Perusahaan Gas Negara helping push Singapore, Malaysia and Indonesia to one-week highs.

Singapore's main stock index <.FTSTI> climbed 3.8 percent, Malaysia's <.KLSE> 1.1 percent and Indonesia's 4.6 percent. Thai shares <.SETI> hit their highest intraday level in seven months and closed 3 percent higher ahead of a likely Bank of Thailand interest rate cut on Wednesday.

DJI Daily: in Sideways manner

Market retreated after the yesterday rebound. Hence, market likely to continue to move in sideways. Thus, we maintain immediate downside support at 8000. To the upside, resistance is maintain at 8600-8700.

KLSE Daily: Holding well at 1000 mark

Market continue to hold above the 1000 physiological support. Thus, we now looking for the upside resistance at 1037. To the downside, support is pegged at 1017-1012 (gap left over on 19/5/2009).

FKLI Daily: Directionless

Bull looks not to give up to gain back its momentum following resistance at 1020-1025 was violated. Consolidation phase will come to the end if market manage to breakout from its recent high at 1038 level. Otherwise, market may keep holding in sideways manner. To the downside, we are looking for the support at 1013.1006.5 (gap left over on 19/5/2009).

FCPO Daily: Remains sideway

Market covered the upside gap at 2603-2655 to retain its upward posture. However, the rebound was not convincing enough to change its current sideways move. As for now, we are now looking for the upside resistance at 2680-2700. To the downside, support is pegged at 2605-2603 (gap left over on 19/5/2009) followed by 2515-2500.