Breaking News-RTRS-China October soy imports seen at 2 mln T -MOFCOM

BEIJING, Oct 15 (Reuters) - China's Commerce Ministry
estimated the country's soy imports in October will continue to
fall for the fourth month in a row, with imports expected to
total 2 million tonnes, the lowest level in two years.

Trader's Highlight

DJI-NEW YORK, Oct 15 (Reuters) - Late-day strength drove U.S. stocks to 2009 highs on Thursday as rising oil prices lifted energy shares, eclipsing the banking sector's retreat after investors panned earnings from Goldman Sachs and Citigroup.

Indexes once again set highs for the year and the Dow held above the 10,000 mark after breaching it for the first time in a year on Wednesday.

While Goldman Sachs Group and Citigroup Inc's results exceeded forecasts, they failed to meet the lofty standard set on Wednesday by JPMorgan Chase & Co , the first major bank to report earnings.

The Dow Jones industrial average <.DJI> added 47.08 points, or 0.47 percent, to end at 10,062.94. The Standard & Poor's 500 Index <.SPX> gained 4.54 points, or 0.42 percent, to 1,096.56. The Nasdaq Composite Index <.IXIC> edged up 1.06 points, or
0.05 percent, to close at 2,173.29.

NYMEX-NEW YORK, Oct 15 (Reuters) - U.S. crude oil futures settled at a one-year high on Thursday, up for the sixth consecutive day, after government data showed heavy drawdowns in gasoline and distillate inventories last week, going against forecasts
for modest increases.

Traders shrugged off data from the U.S. Energy Information Administration showing a smaller-than-expected increase in crude oil supplies.

On the New York Mercantile Exchange ended up $2.40, or 3.19 percent at $77.58 a barrel, the highest since the $78.63 close on Oct. 14, 2008. It traded from $74.79 to $77.97, the highest intraday price since Oct. 15, 2008's $79.17 high.

CBOT-SOYBEANS - November up 1 cent at $9.94 a bushel. Prices rally to highest level since Sept. 3 due to slow harvest of U.S. soybean crop, weak dollar and gains in crude oil and equities markets.

CBOT-SOYOIL - October expired up 0.09 cent at 35.95 cents per lb. December up 0.12 cent at 36.18. Spillover support from gains in soy, higher crude oil and a weak dollar.

FCPO-KUALA LUMPUR, Oct 15 (Reuters) - Malaysian palm oil futures dropped as much as 2.4 percent to a near one-week low on Thursday with traders taking profits from a rally fuelled by crude oil and higher exports.

The benchmark December palm oil contract on the Bursa Malaysia Derivative Exchange dropped 52 ringgit to a session low of 2,108 ringgit ($627.9), a level unseen since Oct. 9, before settling at 2,110 ringgit.

REGIONAL EQUITIES-BANGKOK, Oct 15 (Reuters) - Most Southeast Asian stock markets advanced on Thursday with lenders DBS and United Overseas Bank leading Singapore to a 13-month high, while Thailand's index suffered its biggest drop in a year.

Malaysia's index <.KLSE> ended unchanged, falling back from a 16-month high touched earlier and weighed down by financial CIMB Group and telecoms Axiata Group , which each fell more than one percent.

Public Bank was flat. It rose earlier after the bank said third-quarter net profit rose a small 3.2 percent to 639 million ringgit.

FCPO Daily: Losing ground

Market is losing ground following a sharp fall after few attempts failed to break through the great wall at 2,200 levels. Meantime, we still maintain our view in sideways to higher. Violation of 2,100 levels may change the immediate technical outlook to sideways bias to lower move. Upside resistance remains at 2,196 to 2,200 followed by 2,240. Downside support is pegged at 2108-2085 (unfilled gap left over since 12/10/2009)

NYMEX Crude Daily: Maintaining its upward posture

Market strengthen further its upward posture following resistance at USD77.00 was tested. Thus, market may continue to move higher to challenge the next upside target at USD78.80 to USD80.00. While, downside support is pegged at USD74.00 to USD73.00.

CBOT Soyoil Daily: May challenge USD37.50 to USD38.00

Market continue to move higher and may challenge again the upside resistance at USD37.50-38.00. Downside support is pegged at USD35.90 to USD35.20.

FKLI Daily: Bull took a breathe

Profit taking activities were evident after prices hit the fresh high at 1257.5. However, immediate technical landscape maintain in positive mode. Thus, we continue to look for the upside target at 1270-1280 in near term. Downside support is adjusted to 1220-1210.

Trader's Comment: CPO futures surrendered all its earlier gains to ends broadly lower

CPO futures surrendered all its earlier gains to ends broadly lower on the back of weaken E-CBOT and profit taking after recent strong rebound. Benchmark Dec09 prices climbed to hit intra-day high at 2180 in the early session due to rally in NYMEX crude oil to trade above USD75 per barrel and better 1-15 export figures. However, the gains were trimmed and eventually surrender in the afternoon session on Dalian palm & soyoil futures begin to lose ground and E-CBOT both soybean & soyoil also weakening and trading in negative territory. These prompted profit taking coupled with long liquidation sent Benchmark Dec09 prices under pressure through out the afternoon session. Prices tumbled to hit intra-day low at 2108 before it settling RM 50 lower at 2110. Total daily volume moderate with 12,804 contracts changed hands.