Breaking News-RTRS-FACTBOX-EPA sets 2010 U.S. renewable fuel standard

Feb 3 (Reuters) - The U.S. Environmental Protection Agency said that ethanol and other renewable fuels must account for 8.25 percent of total gasoline and diesel sales in 2010 to meet Congress' mandate that nearly 13 billion gallons (49.2 billion litres) of renewable fuels be produced this year.
That is lower than last year's 10.21 percent renewable fuel standard that the EPA announced in November 2008.
These rules are separate from the amount of ethanol the EPA now allows to be blended into each gallon of gasoline, which is in most cases 10 percent.

Breaking News-RTRS-US soy oil stocks 3.028 bln lbs in December - Census

WASHINGTON, Feb 4 (Reuters) - U.S. soybean oil stocks
totaled 3.028 billion lbs in December, compared to 2.886
billion lbs in November, the U.S. Census Bureau said on
Thursday.

Trader's Highlight

DJI-NEW YORK, Feb 4 (Reuters) - The Dow briefly fell below the crucial 10,000 mark on Thursday as stocks suffered their worst losses in more than nine months.

Escalating sovereign debt problems in Europe and an unexpected rise in jobless claims put investors on the defensive just ahead of Friday's crucial payrolls report.

NYMEX-NEW YORK, Feb 4 (Reuters) - U.S. crude oil futures ended 5 percent lower on Thursday, posting the steepest one-day percentage loss since July, due to a stronger dollar and weak U.S. oil demand that raised more worries about the sluggish economic recovery. Heating oil and gasoline futures finished sharply lower with crude.

On the New York Mercantile Exchange, March crude settled down $3.84, or 4.99 pct, at $73.14 a barrel, trading from $72.42 to $77.17.

CBOT-CHICAGO, Feb 4 (Reuters) - Chicago Board of Trade grains and soy complex close on Thursday.

CBOT-SOYBEANS - March up 6 cents at $9.14 per bushel. Support from oversold technical signals that led to late short-covering. Gains limited by firm dollar, prospects for huge South American soy crops and a sell-off in energies and metals.

CBOT-SOYOIL - March up 0.31 cent at 37.21 cents per lb. EPA ruling on Wednesday on renewable fuels standard was supportive for soyoil.

FCPO-KUALA LUMPUR, Feb 4 (Reuters) - Palm oil futures edged 0.5 percent higher on Thursday as strong technicals slightly offset concerns of high stocks in Malaysia, the world's second largest producer of the vegetable oil.

Palm oil is the best performing vegetable oil so far this year, falling 5.7 percent compared to a drop of 7.3 percent in U.S. soyoil and a decline of 8.8 percent in the most-active soybean oil contract on China's Dalian commodity exchange.

REGIONAL EQUITIES-BANGKOK, Feb 4 (Reuters) - Major Southeast Asian stock markets fell on Thursday as investors worried about U.S. job data and booked quick profits after a brief rally this week, with Singapore banking shares and Thai energy stocks leading the way.

The Straits Times Index <.FTSTI> ended down 0.7 percent, led by a 2.1 percent drop in top lender DBS Group Holdings and 2.8 percent loss in the biggest developer, CapitaLand .

Malaysia <.KLSE> lost 0.2 percent and Indonesia <.JKSE> eased 0.4 percent, retreating from a 1 percent gain on Wednesday, although Indonesia's central bank played down market worries over inflation, signalling it was in no hurry to raise interest rates

FCPO Daily: More strength is still needed

Market close to stayed firm at above 2500 had helped to gain a little ground. However, more strength is still needed in order to change the immediate technical landscape to look positively. Thus, we continue to look for the immediate support at 2475-2462 (gap left over on 3/2/2010) followed by 2400-2393. While, upside resistance is pegged 2520-2540.

NYMEX Crude Daily: Consolidation

A sharp decline of more than USD3 had wipe off the earlier effort. Thus, consolidate mode likely to continue in near term and market may trade in between USD78 to USD72.40. Violation of either way may provide us a more clearer market direction.

DJI Daily: Dark Cloud Covered

Dark cloud covered following prices violated the underline support at 10,000 mark. Hence, it may provide more room to bias downside potential in near term market. Next support will be looking at 9930-9850 followed by 9680. While, upside resistance is pegged at 10,300 levels.

FKLI Daily: Facing resistance

Market is facing some resistance at 1270 levels and looks may cover the downside gap left over at 1260-1259.5. Thus, market likely to move sideways to bias downside potential in near term. To the upside, resistance is pegged at 1270-1271 and support is lies at 1260-1259.5 followed by 1250 levels.