Breaking News-RTRS-China Nov soy imports seen low at 2.34 mln T-MOFCOM

BEIJING, Oct 26 (Reuters) - China's Commerce Ministry
estimated the country's soy imports in November will stay at
about the same low level as in October or at 2.34 million
tonnes.
The ministry's initial figures were in line with traders
estimates after persistent rains in the United States delayed
the harvest as well as loading of cargoes expected to arrive in
China in late November.

Trader's Highlight

DJI-NEW YORK, Oct 26 (Reuters) - U.S. stocks fell for a second straight session on Monday as investors ditched home builders and financials on fears lawmakers may let a federal home buyer tax credit expire, while commodity shares succumbed to pressure from the higher U.S. dollar.

Trading was choppy. Stocks initially started on firmer footing, with indexes up more than 1 percent shortly after the open, but the bounce quickly faded as the U.S. dollar rebounded and investors fretted about the financial sector's prospects.

The Dow Jones industrial average <.DJI> dropped 104.22 points, or 1.05 percent, to 9,867.96. The Standard & Poor's 500 Index <.SPX> shed 12.65 points, or 1.17 percent, to 1,066.95. The Nasdaq Composite Index <.IXIC> fell 12.62 points, or 0.59 percent, to 2,141.85.

NYMEX-NEW YORK, Oct 26 (Reuters) - U.S. crude oil futures ended more than 2 percent lower on Monday as the dollar regained strength after an early fall, prompting investors to sell a broad line of oil and other commodities.

On the New York Mercantile Exchange, December crude settled down $1.82, or 2.26 percent, at $78.68 a barrel, trading from $77.97 to $81.58.

CBOT-SOYBEANS - November down 19-1/2 cents at $9.86-1/2 a bushel; active deferreds down 15-1/2 to 18-3/4.

Profit-taking after last week's rally tied to the falling dollar and harvest delays. Firmer dollar and outlooks for improving harvest weather next week weigh. Talk of China deferring three to four shipments of U.S. soybeans also pressures market.

CBOT-SOYOIL - December down 0.31 cent at 37.63 cents per lb; active deferreds down 0.30 to 0.31. Spillover selling from soybeans, crude oil.

FCPO-KUALA LUMPUR, Oct 26 (Reuters) - Malaysian crude palm oil futures fell 0.9 percent on Monday, retreating from more than 7-week highs hit last week, on fears of growing stockpiles although a surge in palm oil exports curbed further losses.

The benchmark January contract on the Bursa Malaysia Derivatives Exchange settled down 20 ringgit to 2,218 ringgit ($656.6) per tonne. On Friday the market ended up 2,243 ringgit, a level unseen since Sept. 3.

REGIONAL EQUITIES-BANGKOK, Oct 26 (Reuters) - Southeast Asian stock markets
ended mixed on Monday, with financial shares in Singapore and Malaysia such as DBS and CIMB erasing early gains and blue chips elsewhere coming off their highs.

Most markets in the region had a listless session and lower trading volume, with Singapore <.FTSTI> eking out a 0.05 percent gain, Malaysia <.KLSE> falling 0.6 percent, Indonesia <.JKSE> flat and Thailand <.SETI> 0.3 percent higher. Financial shares in the city-state and Kuala Lumpur ended in
negative territory ahead of results later in the month.

FCPO Daily: Into consolidation mode

Market upward strength was not strong enough after tested the recent high at 2250. It then eased off to cover the immediate downside gap at 2227-2224. Thus, market looks may consolidate in near term. As for now, we are looking for the upside resistance at 2250. While, downside support is pegged at 2187-2175 (gap left over on 22/10/2009) followed by 2108-2085 (unfilled gap left over since 12/10/2009).

CBOT Soyoil Daily: Double top formation

A double top formation following prices failed to break through the tough resistance at USD39.18 coupled with a long upper shadow candle has weighed on the market upward move. Thus, market may move into correction phase in near term. As for now, we look for the immediate downside support at USD37.00.

NYMEX Crude Daily: Healthy correction is taking place

A healthy correction looks may take place following prices show a little tiredness mode after few attempts failed to challenge the overhead resistance at USD85.00. As for now, we are looking for the immediate upside resistance at USD82.00 followed by USD85.00. To the downside, support remains at USD75.00-USD73.00

DJI Daily: Bulls hit the pause button

Bulls hit the pause button following prices facing a tough resistance at 10,000 levels. Market looks may enter into correction zone in near term after the recent rally. Upside resistance is stood at 10,000-10,300 levels. While, downside support is pegged at 9,600-9,400 levels.

FKLI Daily: Bulls took a breathe

Bulls took a little breathe after hit the recent high at 1273.5. Overall immediate technical outlook still maintain firm uptrend. Thus, market looks may consolidate in order for a sustainable rally in near term. Thus, we continue to look for the upside projection at 1273.5 followed by 1280-1300. Downside support is adjusted to 1250 followed by 1230.