Trader's Highlight

DJI-NEW YORK, March 31 (Reuters) - U.S. stocks fell on Wednesday as a report showing a surprising drop in private- sector employment stoked concerns about the health of the labor market two days before the government's key jobs data.

Wall Street took a one-two punch from ADP Employer Services data showing U.S. private-sector employers unexpectedly cut jobs in March and a separate report that showed U.S. Midwest business activity expanded less than expected last month.

The Dow Jones industrial average <.DJI> dropped 50.79 points, or 0.47 percent, to close at 10,856.63. The Standard & Poor's 500 Index <.SPX> shed 3.84 points, or 0.33 percent, to 1,169.43. The Nasdaq Composite Index <.IXIC> fell 12.73 points, or 0.53 percent, to end at 2,397.96.

NYMEX-NEW YORK, March 31 (Reuters) - U.S. crude oil futures on Wednesday ended at their highest level this year and posted the loftiest settlement for a front-month crude contract in almost 1.5 years as a weakening of the dollar attracted buying.

The day's rally extended gains to a third day in a row. Front-month crude ended higher for the fifth consecutive quarter, gaining $4.40, or 5.54 percent, in the latest period.

On the New York Mercantile Exchange, May crude settled up $1.39, or 1.69 percent, at $83.76 a barrel, the highest settlement since Oct. 9, 2008's $86.59. It traded from $82.22 to $83.85, below the year's high of $83.95 hit Jan. 11.

CBOT-CHICAGO, March 31 (Reuters) - Chicago Board of Trade grains and soy complex close on Wednesday.

CBOT-SOYBEANS - May down 33 cents at $9.41 a bushel; November down 8-1/2 at $9.18. Pressured by USDA's higher-than-expected U.S. March 1 stocks figure of 1.270 billion bushels, above the average trade estimate of 1.208 billion.

CBOT-SOYOIL - May down 0.36 cent at 38.31 cents per lb. Following sharp sell-off in soybeans, but firm tone in crude oil limits declines.

FCPO-KUALA LUMPUR, March 31 (Reuters) - Malaysia crude palm oil futures made little upward progress on Wednesday as firmer ringgit offset stronger global markets and higher export data.

Benchmark June crude palm oil futures on the Bursa Malaysia Deravatives Exchange ended up 0.2 percent or 6 ringgit, at 2,551 ringgit ($780.8). Trading volume shot up to 14,487 lots of 25 tonnes each compared with the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, March 31 (Reuters) - Southeast Asian shares fell on Wednesday, taking a breather after recent strong inflows pushed Indonesia and other regional markets higher, a trend analysts said may continue as Asia leads the global economic recovery.

Indonesia <.MIID00000PID>, which is hovering near an all-time high, was the star performer in the January-March quarter with a gain of 6.5 percent, against a 1.47 percent rise in the MSCI index of Asian shares outside Japan <.MIAPJ0000PUS>.

Singapore <.FTSTI> fell 1.6 percent on Wednesday and ended the quarter 0.35 percent lower, making it Southeast Asia's worst performer. The market is trading at 15-18 times estimated 2010 earnings, analysts said.

In Kuala Lumpur, gaming group Genting fell 1.9 percent but top planter Sime Darby edged up 0.11 percent. Sime Darby said it would spend 3-5 billion ringgit on its palm estates this year as global demand for the oil grows.