Wednesday, February 17, 2010

Breaking News-RTRS-Indonesia's Astra Agro, KPB hold no palm oil tender

JAKARTA, Feb 15 (Reuters) - Indonesia's largest listed plantation firm PT Astra Agro Lestari Tbk and PT KPB Nusantara (formerly known as the state marketing centre) said they did not hold palm oil tenders on Monday.

Breaking News-RTRS-NOPA January U.S. crush seen at 161.8 mln bu

CHICAGO, Feb 12 (Reuters) - National Oilseed Processors Association monthly crush data to be released Tuesday morning should show the January U.S. soybean crush at 161.8 million bushels, analysts projected on Friday.

Breaking News-NOPA delays monthly soy crush report to Wednesday

WASHINGTON, Feb 16 (Reuters) - The National Oilseed Processors Association said it delayed the release of its monthly soybean crush report by one day, to Wednesday, due to bad weather.

Trader's Highlight

DJI-NEW YORK, Feb 16 (Reuters) - Global stocks surged on Tuesday, lifted by upbeat results from British bank Barclay's and strong U.S. factory data, while the euro posted its biggest single-day gain versus the dollar since June on bets the currency had fallen too far over Greece's financial woes.

U.S. stocks posted their biggest daily percentage gain in three months and European equities rose 1 percent, as investors regained faith in an economic recovery and plowed back into riskier investments.

NYMEX-NEW YORK, Feb 16 (Reuters) - U.S. crude oil futures ended nearly 4 percent higher on Tuesday as improved manufacturing data that boosted optimism about the economy lifted the stock market and hope for better demand for oil.

The dollar's weakness against the euro and tensions over Iran's nuclear program also helped lift oil futures, along with recent cold weather supportive to heating oil.

On the New York Mercantile Exchange, March crude rose $2.88, or 3.89 percent, to settle at $77.01 a barrel, trading from $73.71 to $77.28.

CBOT-CHICAGO, Feb 16 (Reuters) - Chicago Board of Trade grains and soy complex close on Tuesday.

CBOT-SOYBEANS - March up 20-1/2 cents at $9.65-1/2 per bushel. Front-month March climbed to a four-week peak on weak dollar, higher crude oil and equities, and short-covering.

CBOT-SOYOIL-March up 1.11 cents at 38.95 cents per lb. Following soybeans and higher crude oil.

FCPO-JAKARTA, Feb 12 (Reuters) - Malaysian palm oil futures closed unchanged on Friday after recouping an earlier 1.3 percent loss as traders covered short positions anticipating possible gains after the Chinese New Year holidays next week, traders said.

Traded volume was below the usual 10,000 lots as traders left early for the holidays or simply did not trade.

REGIONAL EQUITIES-BANGKOK, Feb 16 (Reuters) - Indonesian stocks climbed to their highest in almost two weeks on Tuesday as investors bought resource shares, and Thai shares also rose, although to a lesser extent as political worries deterred some investors.

Manila <.PSI> edged higher, while Singapore <.FTSTI> and Malaysia <.KLSE> remained closed for the Lunar New Year holiday. They will resume trading on Wednesday, but Vietnam <.VNI> is closed for the week.

FCPO Weekly: Holding ground


Market rebounded after found some support at 2400-2393 levels. However, more strength is still needed in order for market to gain more ground. Thus, we are now looking for the upside resistance at 2650-2675 followed by 2726. While, immediate downside support will be looking at 2542-2523 (gap left over on 14/2/2010) followed by 2400-2393.

FKLI Weekly: Market momentum remains weak


Market momentum remains weak and is trying to defend at 1200 physiological support. Violation of 1200 levels may provide more room to bias downside potential in near term. To the upside, resistance is looking at 1265.0-1270.0 followed by 1285.