CPO Tender Summary As at September 2009

Breaking News-RTRS-UPDATE 3-Bernanke says U.S. recession is 'very likely' over

WASHINGTON, Sept 15 (Reuters) - Federal Reserve Chairman Ben Bernanke said on Tuesday that the worst U.S. recession since the Great Depression was probably over, but the recovery would be slow and it would take time to create new jobs.

Breaking News-RTRS-Biofuels may make Brazil soyoil importer-Oil World

HAMBURG, Sept 15 (Reuters) - Brazil, one of the world's leading soyoil exporters, may start importing soyoil from October 2009 because of sharply rising need for biofuel production, oilseeds analysts Oil World forecast on Tuesday.
"In Brazil, surging requirements for biodiesel production and declining soybean crushings will enforce a reduction in soyoil exports and probably necessitate soyoil imports in Oct. 2009/Jan. 2010," Oil World said.
Brazil's biodiesel output reached a record 134,000 tonnes in July 2009, up 41 percent on the year as the country raised compulsory blending of biofuels in fossil diesel, Oil World said.

FCPO Daily: May challenge upside gap

Market ended in positive territory and was trying to rebound after the recent sharp drop. Thus, it may want to challenge the upside gap left over on 14/9/2009 at 2119-2140 followed by 2170. Downside support is pegged at 2070.

CBOT Soyoil Daily: Defended well

A sharp rebound had neutralised the immediate technical outlook following a good defend at USD33.00. Thus, market may move into correction zone with upside resistance and downside support is looking at USD35.50-35.70 and USD33.00 levels respectively.

NYMEX Crude Daily: Entering into consolidation phase

Market is entering into consolidation phase with prices may cap in the range of USD73 to USD67 levels respectively. A breakout of the either way may provide more clearer direction.

SSE Daily: Likely to continue its upward move

Market edged up further to cover the full gap left over at 3033-3039. Thus, market looks likely to continue moving sideways to bias upside potential in near term. As for now, we are looking for the immediate resistance at 3060-3080 followed by 3150. While, downside support is maintain at 2900 levels.

DJI Daily: More room to bias upside potential

Market violated the overhead resistance at 9600-9700 levels had strengthen the immediate daily outlook. Thus, we expect more room to bias upside potential in near term with upside target is looking at 9800-10,000 levels. To the downside, support is pegged at 9500-9400 levels.

FKLI Daily: Uptrend likely to extend

Nothing much changes on the immediate technical landscape as prices maintain in upward posture and likely to challenge the recent high at 1215 in near term. Next resistance will be looking at 1230-1240. To the downside, support is maintain at 1200-1190.

Trader's Highlight

DJI-NEW YORK, Sept 15 (Reuters) - U.S. stocks rose on Tuesday to 2009 highs after stronger manufacturing and retail sales data boosted commodity prices and shares of materials companies.

Tuesday's gains lifted the S&P 500 above the 1,050 level for the first time since early October.

The Dow Jones industrial average <.DJI> rose 56.61 points, or 0.59 percent, to close at 9,683.41. The Standard & Poor's 500 Index <.SPX> gained 3.29 points, or 0.31 percent, to 1,052.63. The Nasdaq Composite Index <.IXIC> added 10.86 points, or 0.52 percent, to 2,102.64.

Comments by Federal Reserve Chairman Ben Bernanke that the recession was probably at an end also favored basic materials companies, Caughey said.

NYMEX-NEW YORK, Sept 15 (Reuters) - U.S. crude oil futures pared gains in post-settlement trading on Tuesday after industry data showed a surprise increase in domestic crude stocks last week.

On the New York Mercantile Exchange at 5:15 p.m. EDT (2215 GMT), October crude was up $1.44, or 2.09 percent, at $70.30 a barrel. It had settled earlier up $2.07, or 3.01 percent, at $70.93, trading from $68.48 to $71.19.

CBOT-SOYBEANS - November up 51 cents at $9.60 per bushel. Surging on forecasts for colder weather next week in the U.S. Midwest that could harm the crop, which is immature because it was planted late.

CBOT-SOYOIL - October up 1.03 cents per lb at 34.43. Following soybeans. Firm crude oil adds support.

FCPO-JAKARTA, Sept 15 (Reuters) - Malaysian crude palm oil futures bounced off an eight-week low on Tuesday as investors shrugged off poor export data and focused on covering short positions ahead of a long holiday weekend, traders said.

The benchmark November contract on the Bursa Malaysia Derivative Exchange rose 31 ringgit, or 1.5 percent, to 2,101 ringgit ($600.29) a tonne. Overall volume was 15,663 lots of 25 tonnes each.

The exchange will be closed on Sept. 21-22 for the Muslim festival of Eid al-Fitr.

REGIONAL EQUITIES-BANGKOK, Sept 15 (Reuters) - Most Southeast Asian stock markets rebounded on Tuesday, with Indonesia rising more than 1 percent and others posting smaller gains, led by big caps such as Bumi Resources, PPB Group and DBS Group.

Markets in the region recouped Monday's losses, with investors recovering their appetite for riskier assets, analysts said.

Singapore's index <.FTSTI> inched down 0.05 percent, erasing an early 0.7 percent gain, Malaysia's index <.KLSE> was up 0.3 percent, Thailand's index <.SETI> climbed 1.3 percent and Vietnam's index <.VNI> inched up 0.03 percent.

In Kuala Lumpur, Tenaga Nasional gained 2.1 percent and plantation group PPB rose 1.8 percent.

Proton Holdings jumped 5.4 percent on market speculation Malaysian billionaire Syed Mokhtar Al Bukhary may be interested in acquiring a controlling stake in the car maker.