Breaking News- RTRS-China's orders for U.S. soy seen as overexuberant

BEIJING, Jan 5 (Reuters) - Exuberant U.S. soy shipments to China could collapse in the face of waning demand and strong supply and some buyers could cancel orders in the next few months, traders said on Tuesday.

After China booked an unprecedented 20 million tonnes of soy from the United States in the current marketing year, or 70 percent more than last year , sellers are counting on an even stronger Chinese appetite this year, with the worst of the financial crisis widely thought to have passed.

Breaking News- RTRS-Argentine soybean crop outlook improves -Oil World

HAMBURG, Jan 5 (Reuters) - Better weather has improved prospects for Argentina's soybean crop in early 2010 although the final harvest outcome is still unclear, Hamburg-based oilseeds analysts Oil World said on Tuesday.

Trader's Highlight

DJI-NEW YORK, Jan 5 (Reuters) - The S&P 500 and the Nasdaq rose on Tuesday as better-than-expected factory orders and a surge in vehicle sales at Ford Motor Co provided more evidence of an economic recovery.

But a big decline in pending home sales, which fell in November for the first time in nine months, increased concerns about the housing market. That capped the broad market's gains and pushed the Dow industrials into the red a day after all three major U.S. stock indexes rose to their highest levels in over a year.

NYMEX-NEW YORK, Jan 5 (Reuters) - U.S. crude oil futures fell back in post-settlement trading on Tuesday after industry data showed a surprise increase in distillate stocks overall, even though heating oil supplies fell.

Crude inventories declined more than expected, data from the American Petroleum Institute showed, but traders had been focusing on distillates for guidance.

On the New York Mercantile Exchange at 5:10 p.m. EST(2210 GMT) February crude was down 13 cents, or 0.16 percebt, at $81.38 a barrel. It had settled up 26 cents, or 0.32 percent, at $81.77, the highest since the $86.59 close on Oct. 9, 2008. It traded from $80.95 to $82, matching the 2009 peak hit on Oct. 21, which was the highest since intraday prices hit $84.83 on Oct. 14, 2008.

CBOT-CHICAGO, Jan 5 (Reuters) - Chicago Board of Trade grains and soy complex close on Tuesday.

CBOT-SOYBEANS - January up 2-3/4 cents at $10.52-1/4 a bushel. March up 3 at $10.61. Choppy, market fluctuated between positive and negative territory in rangebound trade.

CBOT-SOYOIL - January down 0.19 cent at 40.71 cents per lb. March down 0.19 at 41.10. Meal/oil spreading weighs.

FCPO-KUALA LUMPUR, Jan 5 (Reuters) - Malaysian crude palm oil futures ended higher on Tuesday, off 7-month highs hit earlier in the session as investors booked profits on a rally boosted by crude oil and expectations of strong demand.

The weaker dollar also boosted market sentiment, as investors favoured commodity and equity plays over the greenback on signs the U.S. economy would start to recover.

REGIONAL EQUITIES-BANGKOK, Jan 5 (Reuters) - Most Southeast Asian stock markets rose on Tuesday, with Malaysia hitting a 19-1/2-month high and Singapore testing 17-month peak as blue chips recouped recent losses, from Indonesia's Bumi Resources to Singapore's Wilmar.

Singapore's index <.FTSTI> ended up 0.9 percent after hitting its highest level in 17 months, with CapitaLand rising 1.9 percent and Keppel Corp , the world's largest rig maker, 1.3 percent higher.

Malaysia <.KLSE> leapt 1 percent after testing its highest level since May 20, 2008, as Sime Darby edged up 2.4 percent, in line with higher palm oil prices.

NYMEX Crude Daily: Shies Away

Market shies away after tested the recent high at USD82.00. Immediate technical outlook remains positive while waiting for a convincing breakout. Next resistance will be looking at USD85.00 to 90.00. Downside support remains at USD79.00.

FCPO Daily: Facing some resistance at 2700 levels.

Market looks has facing some resistance at 2700 levels following 2nd attempts trying to break through it but failed to stay firm. However, immediate technical landscape remains in positive posture. Thus, we maintain sideways to higher in near term with upside resistance pegged at 2730-2760 followed by 2800 levels. To the downside, support is lies at 2600-2580 levels.

FKLI Daily: Bulls charged higher

Bulls continue to charge higher following a convincing breakout from the overhead resistance at 1286 levels. As for now, we continue to look for the upside resistance at 1295-1310 levels. Downside support is remains pegged at 1274-1272 (gap left over on 4/1/2010).