Unilever
Thursday, February 25, 2010
Breaking News-RTRS-Unilever stops buying palm oil from Indonesian planter
KUALA LUMPUR, Feb 24 (Reuters) - Consumer goods giant Unilever has told dealers not to source palm oil from Indonesian planter Duta Palma on concerns over rainforest destruction, an Indonesian industry official said on Wednesday.
Unilever , the world's top palm oil buyer, blacklisted Duta Palma just two months after it halted a $33 million supply contract with Indonesia's largest producer, PT SMART
Unilever
Trader's Highlight
DJI-NEW YORK, Feb 24 (Reuters) - Global stocks rose and the U.S. dollar fell on Wednesday after Federal Reserve Chairman Ben Bernanke reaffirmed his commitment to keep U.S. interest rates at exceptionally low levels for an extended period.
Oil rose to $80 a barrel as Bernanke's congressional testimony buoyed hopes that low rates, which have made stocks and commodities more attractive, will spur economic growth despite bearish U.S. crude oil inventory figures.
NYMEX-NEW YORK, Feb 24 (Reuters) - U.S. crude oil futures ended up more than 1 percent on Wednesday, rebounding from a sharp loss on Tuesday, with support coming from a weaker dollar and a drawdown in gasoline supplies.
Traders ignored a larger-than-expected crude stock build in a key weekly government inventory report. The dollar fell against the euro and yen after comments by U.S. Federal Reserve Chairman Ben Bernanke reaffirmed expectations that the central bank will keep its benchmark interest rate exceptionally low for some time.
On the New York Mercantile Exchange, April crude gained $1.14, or 1.45 percent, to settle at $80 a barrel, trading from $78.25 to $80.13. In post-settlement trading, it last traded up $1.48, or 1.88 percent, at $80.34, with the
day's high rising further to $80.45.
CBOT-CHICAGO, Feb 24 (Reuters) - Chicago Board of Trade grains and soy complex closing trends on Wednesday.
CBOT-SOYBEANS-March up 3 cents at $9.55-1/2 per bushel. Funds bought an estimated 1,000 to 2,000 lots.
CBOT-SOYOIL- March up 0.74 at 39.05 cents per lb. Funds bought an estimated 2,500 lots.
FCPO-JAKARTA, Feb 24 (Reuters) - Malaysia's palm oil futures fell 1.7 percent on Wednesday on market talk of a drop in exports for Feb. 1-25, with long liquidation adding to the pressure, traders said.
Cargo surveyors Intertek Testing Services and Societe General de Surveillance are due to unveil the Feb. 1-25 palm oil exports data on Thursday. Traders said there was talk in late trade that the ITS report may show a figure of 1.089 million tonnes, but earlier on, the rumoured figure was 1.03 million tonnes.
REGIONAL EQUITIES-COLOMBO, Feb 24 (Reuters) - Most major Southeast Asian stock
markets fell on Wednesday on worries over the global economic recovery after declines in U.S. consumer confidence and German business sentiment. Analysts said a testimony by Federal Reserve chief Ben Bernanke to Congress later on Wednesday also made investors cautious.
Singapore <.FTSTI> was down 0.7 percent, Indonesia <.JKSE> fell 0.2 percent and Thailand <.SETI> edged down 0.06 percent.
But Malaysia bucked the trend with a 0.3 percent gain to hit its highest since Jan. 27 after stronger-than-expected economic data.
Oil rose to $80 a barrel as Bernanke's congressional testimony buoyed hopes that low rates, which have made stocks and commodities more attractive, will spur economic growth despite bearish U.S. crude oil inventory figures.
NYMEX-NEW YORK, Feb 24 (Reuters) - U.S. crude oil futures ended up more than 1 percent on Wednesday, rebounding from a sharp loss on Tuesday, with support coming from a weaker dollar and a drawdown in gasoline supplies.
Traders ignored a larger-than-expected crude stock build in a key weekly government inventory report. The dollar fell against the euro and yen after comments by U.S. Federal Reserve Chairman Ben Bernanke reaffirmed expectations that the central bank will keep its benchmark interest rate exceptionally low for some time.
On the New York Mercantile Exchange, April
day's high rising further to $80.45.
CBOT-CHICAGO, Feb 24 (Reuters) - Chicago Board of Trade grains and soy complex closing trends on Wednesday.
CBOT-SOYBEANS-March
CBOT-SOYOIL- March
FCPO-JAKARTA, Feb 24 (Reuters) - Malaysia's palm oil futures fell 1.7 percent on Wednesday on market talk of a drop in exports for Feb. 1-25, with long liquidation adding to the pressure, traders said.
Cargo surveyors Intertek Testing Services and Societe General de Surveillance are due to unveil the Feb. 1-25 palm oil exports data on Thursday. Traders said there was talk in late trade that the ITS report may show a figure of 1.089 million tonnes, but earlier on, the rumoured figure was 1.03 million tonnes.
REGIONAL EQUITIES-COLOMBO, Feb 24 (Reuters) - Most major Southeast Asian stock
markets fell on Wednesday on worries over the global economic recovery after declines in U.S. consumer confidence and German business sentiment. Analysts said a testimony by Federal Reserve chief Ben Bernanke to Congress later on Wednesday also made investors cautious.
Singapore <.FTSTI> was down 0.7 percent, Indonesia <.JKSE> fell 0.2 percent and Thailand <.SETI> edged down 0.06 percent.
But Malaysia bucked the trend with a 0.3 percent gain to hit its highest since Jan. 27 after stronger-than-expected economic data.
FCPO Daily: May enter into correction mode
Market slow down its upside move following prices facing some resistance at 2648 levels. Thus, market may enter into correction mode with upside resistance remains looking at 2648 followed by 2667-2675 (gap left over on 7/1/2010). To the downside, support is lies at 2577 followed by 2542-2523 (gap left over on 8/1/2010).
FKLI Daily: Holding ground
Market continue to hold ground with 1260 provided a pretty good support. Market looks may continue to move sideways to higher in near term. To the upside, resistance is looking at 1288. Downside support is pegged at 1258.5-1253.5 levels (gap left over on 22/2/2010).
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