Breaking News-RTRS-UPDATE 1-Indonesia to keep Nov palm oil export tax at zero

JAKARTA, Oct 23 (Reuters) - Indonesia will keep its palm oil export tax at zero for the fourth consecutive month in November but will cut the crude palm oil (CPO) base export price to $595 a tonne from $617 in October due to price falls, a trade ministry official said on Friday.

Breaking News-RTRS-Chinese soy buyers finish purchases for 2009 -CNGOIC

BEIJING, Oct 23 (Reuters) - Chinese crushers have mostly
completed soybean purchases from the United States for the rest
of the year, and are actively buying United States and South
American cargoes for shipment next year, according to an official
survey.
China has already bought up to 15 million tonnes of soybeans
from the United States, the world's largest exporter and 5
million tonnes from South America, said the National Grain and
Oils Information Centre (CNGOIC).

Trader's Highlight

DJI-NEW YORK, Oct 23 (Reuters) - U.S. stocks fell on Friday, with the major indexes slipping for the first week in three, as industrial companies' weak results overshadowed robust earnings from tech and retail heavy-weights.

The U.S. dollar rose against the pound after data showed the UK posted its sixth straight quarter of contraction in gross domestic product, the longest stretch on record, and better-than-expected U.S. housing data gave the greenback an extra boost.

The Dow Jones industrial average <.DJI> dropped 109.13 points, or 1.08 percent, to 9,972.18, marking its second finish this week below the 10,000 mark. The Standard & Poor's 500 Index <.SPX> dropped 13.31 points, or 1.22 percent, to 1,079.60. The Nasdaq Composite Index <.IXIC> dropped 10.82 points, or 0.50 percent, to 2,154.47.

NYMEX-NEW YORK, Oct 23 (Reuters) - U.S. crude oil futures ended down for a second day in a row on Friday as worries about the pace of economic recovery and weak oil demand amid bulging stockpiles pressured the market, after prices jumped to a 2009
high this week.

On the New York Mercantile Exchange, December crude settled down 69 cents, or 0.85 percent, at $80.50 a barrel, trading from $79.82 to $81.78. For the week, the
contract is up $1.97, or 2.51 percent.

CBOT-SOYBEANS - November up 1/2 cent at $10.06 a bushel. Ends firm but well below early highs amid a bout of profit-taking after notching 1-1/2 month high at $10.28 on firm U.S. CIF Gulf basis levels as rains limit movement into terminals. Concerns mount about crop losses given rains, which are forecast for the next two weeks.

CBOT-SOYOIL - December down 0.36 cent at 37.94 cents a lb. Slips amid meal/oil spreading, weaker crude oil.

FCPO-JAKARTA, Oct 23 (Reuters) - Malaysian crude palm oil futures rose 1.3 percent to their highest closing in more than seven weeks on Friday, underpinned by strength in rival soybean and crude oil prices, traders said.

The benchmark January contract on the Bursa Malaysia Derivative Exchange settled up 28 ringgit at 2,238 ringgit ($662.13) a tonne, a level not seen since September 2. Overall volume was 16,202 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, Oct 22 (Reuters) - Stock markets in Thailand and
Indonesia fell for a third day on Thursday, with financials and big caps such as Siam Commercial Bank, Advanced Info Service, Bank Rakyat and Astra International leading the way down.

Singapore's index <.FTSTI> fell 0.4 percent, Malaysia's index <.KLSE> was flat and the Philippines <.PSI> lost 1.1 percent. Vietnam bucked the trend, rising 0.9 percent.

In Kuala Lumpur, Malaysian Airline gained nearly 1 percent to 3.08 ringgit after Ambank upgraded the airline to "buy" and raised fair value for the stock to 3.90 ringgit

FCPO Weekly: Sideways bias to little upside potential

Market improved a little following prices close firm at 2200 levels after tested the weekly high at 2250. Thus, market may continue move in sideways bias to little upside potential in near term. As for now, we are looking for the upside resistance at 2350. While, downside support is maintain at 2108-2100 (unfilled gap left over since 11/10/2009)

CBOT Soyoil Weekly: May challenge overhead resistance at USD40.00 to USD40.77

We continue to look for the overhead resistance at USD40.00 to 40.77. Violation of it may provide more room to bias upside potential in near term. As now, downside support remains at USD37.00.

NYMEX Crude Weekly: Uptrend remains firm

Uptrend is firm and market looks may want to challenge the next upside resistance at USD85.00 in near term. To the downside, support remains at USD75.00

DJI Weekly: Show a little tiredness

Market shows a little tiredness mode after the recent run up to challenge 10,000 resistance mark. However, we maintain positive towards the near term market with upside resistance is stood at 10,300 levels. While, downside support remains at 9,400 levels.

FKLI Weekly: Likely to march higher

Market maintain well its upward posture following prices tested the weekly high at 1273.5. Market looks may march higher in near term with upside is projected at 1280-1300 followed by 1314.5-1348 (gap left over since 9/3/2008). Downside support is adjusted to 1230.