Trader's Comment:Market traded in sideways range again and ended slightly higher ahead of long weekend covering

Market traded in sideways range again and ended slightly higher ahead of long weekend covering. Benchmark Nov09 had been hovering between 2375-2352 through out the day until it settled RM24 higher at 2370. Players were generally cautious and did not make aggressive moves ahead of long weekend. Positive external markets did provide some support to the BMD as Asian time NYMEX crude oil edged higher today, while both eCBOT soy oil and Dalian palm also follow suit. Daily volume increased slightly to a total of 13,584 contracts that changed hands.

Market close on 31st Aug, 2009 (Monday), resume on 1th Sep, 2009.

Bursa Malaysia Derivatives Berhad (BMDB)will be closed on 31 Aug, 2009 (Monday) in conjunction with National Day. BMD will resume trading on 1 Sep, 2009 (Tuesday).


MERDEKA! MERDEKA! MERDEKA!

Breaking News-RTRS-UPDATE 2-Malaysia Sime profit beats forecast; hikes capex

KUALA LUMPUR, Aug 27 (Reuters) - Malaysian conglomerate Sime Darby , reported on Thursday better-than-expected quarterly profits and said it would more than triple capital expenditure for fiscal 2010 to boost plantation operations.

Breaking News-RTRS-UPDATE 1-Pakistani palm oil imports seen slow in Oct-Dec

ISLAMABAD, Aug 27 (Reuters) - Pakistan made heavy purchases of palm oil for August and September but buying will slow in the October-December quarter partly because of stocks and the arrival of the cottonseed crop, an industry official said on Thursday.
Pakistan, after a long pause, has also placed orders for about 95,000 tonnes of oilseeds for October shipment that will also cut demand for palm oil imports, said Rasheed Janmohammad, vice-chairman of the Pakistan Edible Oil Refiners Association.

Breaking News-RTRS-EU imports more Argentine biodiesel - Biopetrol

HAMBURG, Aug 27 (Reuters) - Growing imports of cheap Argentine biodiesel into Europe are replacing U.S. imports hit by European Union anti-dumping duties in March, Swiss-German biodiesel producer Biopetrol said on Thursday.
"Increasing amounts of indirectly-subsidized biodiesel have been coming to Europe from Argentina since the second quarter," Biopetrol said in a statement in a statement on its first half 2009 results.

Breaking News-RTRS-US July soy crush 129.37 mln bu-Census Bureau

-U.S. JULY SOYBEAN CRUSH 129.37 MLN BUSHELS -- CENSUS BUREAU
-U.S. JULY TOTAL FACTORY/WAREHOUSE SOYOIL STOCKS 3.338 BILLION LBS-- CENSUS
-U.S. JULY SOYMEAL/HULLMEAL STOCKS 349,543 SHORT TONS -- CENSUS BUREAU

Trader's Highlight

DJI-NEW YORK, Aug 27 (Reuters) - U.S. stocks closed higher on Thursday as investors turned back an early sell-off, thanks to a rebound in oil prices.

The Dow Jones industrial average <.DJI> gained 37.11 points, or 0.39 percent, to end at 9,580.63. The Standard & Poor's 500 Index <.SPX> added 2.86 points, or 0.28 percent, to 1,030.98. The Nasdaq Composite Index <.IXIC> rose 3.30 points, or 0.16 percent, to 2,027.73.

NYMEX-NEW YORK, Aug 27 (Reuters) - U.S. crude oil futures recovered from sharp session losses and ended more than $1 higher on Thursday, shored up by a rebound on Wall Street and weakness in the dollar.

On the New York Mercantile Exchange, October crude settled up $1.06, or 1.48 percent, at $72.49 a barrel, trading from $69.83 to $72.76.

CBOT-SOYBEANS - September up 23-3/4 cents to $11.14-1/4. November down 1/2 cent at $9.96.

Tight supply of soy, ongoing buying of U.S. soy by China boost nearby prices, but deferred contracts ease on profit taking and expectations for a large crop this fall. Trade watching Argentine farmer strike.

U.S. Census said U.S. July soy crush 129.37 million bushels, above average trade estimate for 126.7 million.

CBOT-SOYOIL - September down 0.25 cent per lb at 36.21. Choppy trade.

U.S. Census said U.S. July soyoil ending stocks 3.338 billion lbs, above average trade estimate for 3.283 billion.

FCPO-JAKARTA, Aug 27 (Reuters) - Malaysian crude palm oil futures edged slightly lower on Thursday with few factors to direct the market.The benchmark November palm oil futures on the Bursa Malaysia Derivatives Exchange edged down 11 ringgit, to 2,346 after moving in a tight range of 2,335 to 2,369 ringgit. Overall volume was thin at 11,155 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, Aug 27 (Reuters) - Singapore shares hit a two-week
high on Thursday, led by offshore oil services firm Swiber and Chinese shipbuilder Cosco Corp, while other Southeast Asian bourses ended mixed.

Singapore's benchmark index <.FTSTI> rose 0.5 percent to its highest since Aug. 14, underpinned by gains in mid-capitalized companies such as Swiber Holdings , which surged 7.5 percent, and Cosco Corp , which climbed 4.9 percent.

Malaysia's index <.KLSE> was up 0.4 percent, with Malaysia Mining Corp up 5.7 percent and telecom firm Axiata gaining 0.7 percent after strong quarterly results.

Indonesia's index <.JKSE> dropped 1 percent, weighed down by a 7.3 percent fall in nickel producer International Nickel Indonesia and a 4 percent drop in coal producer Bumi Resources .

FCPO Daily: No clear signal

Market direction remains hazy and moving in tight rangy mode. We maintain the upside resistance at 2402-2424( unfilled gap since 17/8/2009)and the downside support is at 23202300 followed by 2280-2234.

CBOT Soyoil Daily: Weakening

immediate technical outlook weaken a little following prices continue to lose ground after tested the immediate support at 36.25. Thus, market may sideways to bias downside potential in near term. As for now, upside resistance is looking at 37.00-37.50. Downside support is pegged at 35.90-35.70.

NYMEX Crude Daily: Sideways

Prices continue to move in sideways manner. We maintain the immediate resistance and support at 75.00 and 68.85-68.00 respectively.

SSE Daily: Building up a concrete base

Market continue to build up a concrete base. Immediate upside resistance is maintain at 3004 followed by 3020-3039 (gap left over on 17/8/2009). While, immediate downside support is now looking at 2880-2860 followed by 2820-2798.

FKLI Daily: Consolidation likely to extend

Consolidation phase is still taking place. Thus, we maintain the immediate resistance is adjusted to 1177.5 followed by 1189.5. To the downside, support is remains at 1167-1163 (unfilled gap left over since 24/8/2009) followed by 1150.

Trader's Comment: Palm oil futures extended its sideway movement and ended slightly lower.

Palm oil futures extended its sideway movement and ended slightly lower. Benchmark Nov09 initially hit intra day high of 2369 after opened almost unchanged at 2360, but then immediately eased off and began to hover in the negative territory for the rest of the day. It settled RM11 lower at 2346, after moving in a tight range between 2355-2335 through out most of the sessions. Trading activity remained rather quiet, which may be partly due to school holiday through out this week. Daily volume declined again with a total of 11,155 contracts that changed hands.