KUALA LUMPUR, April 8 (Reuters) - Malaysia's March palm oil
stocks dropped 7.6 percent to six-month lows as higher overseas
demand along with local consumption outweighed a recovery in
production, a Reuters poll showed on Thursday.
Inventories in the world's No. 2 palm oil producer fell for a
third month to 1.65 million tonnes but the pace of the decline
was muted on higher imports from top producer Indonesia, a
Reuters poll of five plantation houses showed.
Thursday, April 8, 2010
Breaking News-RTRS-GLOBAL MARKETS-Stocks, euro slide on Greek scare, Hoenig speech
NEW YORK, April 7 (Reuters) - U.S. stocks slid and the euro eased on Wednesday as Greece's fiscal woes resurfaced and investors took flight after a top Federal Reserve official warned of the perils of keeping interest rates too low for too long.
Copper prices tumbled and U.S. oil futures ended lower, snapping six straight days of gains, on government data that showed crude stocks rose last week for the 10th week in a row to their highest level since last June.
Copper prices tumbled and U.S. oil futures ended lower, snapping six straight days of gains, on government data that showed crude stocks rose last week for the 10th week in a row to their highest level since last June.
Breaking News-RTRS-Indonesia's palm oil shipments unaffected by quake
JAKARTA, April 7 (Reuters) - Palm oil shipments from Indonesia's main port of Belawan in Sumatra are unlikely to be affected by an earthquake of 7.7 magnitude which struck off the coast of Aceh on Wednesday, officials said.
Indonesia is the world's largest palm oil producer.
Indonesia is the world's largest palm oil producer.
Breaking News-RTRS-Talk of China buying US corn rallies CBOT futures
CHICAGO, April 7 (Reuters) - U.S. corn futures surged nearly 3 percent on Wednesday, fueled in part by talk that China, once a top exporter of the grain, was looking to import corn, traders and analysts said.
Chicago Board of Trade May corn futures closed 10 cents higher, up 2.9 percent, at $3.56-1/2 per bushel also on support from technical buying and short-covering as the dollar <.DXY> came off its day high.
But there was widespread talk that China could be seeking to import corn.
Chicago Board of Trade May corn futures
But there was widespread talk that China could be seeking to import corn.
Trader's Highlight
DJI-NEW YORK, April 7 (Reuters) - U.S. stocks fell in a broad late-day drop on Wednesday after a top Federal Reserve official said interest rates should not stay low for much longer, giving investors an excuse to take profits.
A speech by Kansas City Federal Reserve Bank President Thomas Hoenig drove afternoon selling after he said keeping interest rates too low for too long would encourage risky financial behavior.
The Dow Jones industrial average <.DJI> fell 72.47 points, or 0.66 percent, to 10,897.52. The Standard & Poor's 500 Index <.SPX> slipped 6.99 points, or 0.59 percent, to 1,182.45. The Nasdaq Composite Index <.IXIC> lost 5.65 points, or 0.23
percent, to 2,431.16.
NYMEX-NEW YORK, April 7 (Reuters) - U.S. crude oil futures ended lower for the first time in seven sessions on Wednesday, after government data showed that crude stocks rose last week for the 10th week in a row, hitting the highest level since June.
The dollar gained against the euro, also prompting traders to trim their long positions on crude futures, analysts said.
On the New York Mercantile Exchange, May crude last traded down $1.20 at $85.64 a barrel, after extending the day's lows in post-settlement trading to $85.52. It had settled down 96 cents, or 1.11 percent, at $85.88, trading from $85.75 to $87.
CBOT-CHICAGO, April 7 (Reuters) - Chicago Board of Trade grains and soy complex close on Wednesday.
CBOT-SOYBEANS - May up 8 cents at $9.52-1/2 a bushel; November up 9-1/2 at $9.41-1/4. Following rally in corn; technical buying adds momentum as did the dollar easing from the day's highs. Firm cash markets supported prices.
CBOT-SOYOIL - May up 0.26 cent at 40.03 cents per lb. Support from soybeans offsets falling crude oil prices.
FCPO-KUALA LUMPUR, April 7 (Reuters) - Malaysian palm oil futures ended higher on Wednesday on the back of firmer soyoil markets although the surging ringgit currency nipped gains.
Palm oil, which lost 4 percent in the first quarter of 2010, is making little headway as the ringgit reached multi-month highs at the start of the second quarter.
The benchmark June crude palm oil contract on Bursa Malaysia Derivatives Exchange rose 19 ringgit, or 0.8 percent, to settle at 2,539 ringgit ($790.5). Traded volume stood at 12,606 lots of 25 tonnes each, up from the usual 10,000 lots.
REGIONAL EQUITIES-BANGKOK, April 7 (Reuters) - Southeast Asian stock markets rose on Wednesday on increasing confidence about economic prospects in the region and the outlook for corporate earnings, with energy and banks leading the way.
Foreign inflows into Southeast Asian bourses and upward revisions to GDP growth forecasts in the region bode well for more earnings revisions, justifying higher market valuations, analysts said.
Singapore <.FTSTI> added 0.4 percent to a 21-month high and Malaysia <.KLSE> rose 0.05 percent, coming off its early gain to a 25-month high.
In Singapore, commodities firms were among top actively traded stocks, with Wilmar International gaining 0.4 percent, Olam International climbing 4.6 percent and Noble Group up 0.9 percent as it offered to buy out
Australia's Gloucestor Coal
In Kuala Lumpur, Tenaga Nasional and Petronas each gained over 1 percent.
A speech by Kansas City Federal Reserve Bank President Thomas Hoenig drove afternoon selling after he said keeping interest rates too low for too long would encourage risky financial behavior.
The Dow Jones industrial average <.DJI> fell 72.47 points, or 0.66 percent, to 10,897.52. The Standard & Poor's 500 Index <.SPX> slipped 6.99 points, or 0.59 percent, to 1,182.45. The Nasdaq Composite Index <.IXIC> lost 5.65 points, or 0.23
percent, to 2,431.16.
NYMEX-NEW YORK, April 7 (Reuters) - U.S. crude oil futures ended lower for the first time in seven sessions on Wednesday, after government data showed that crude stocks rose last week for the 10th week in a row, hitting the highest level since June.
The dollar gained against the euro, also prompting traders to trim their long positions on crude futures, analysts said.
On the New York Mercantile Exchange, May
CBOT-CHICAGO, April 7 (Reuters) - Chicago Board of Trade grains and soy complex close on Wednesday.
CBOT-SOYBEANS - May
CBOT-SOYOIL - May
FCPO-KUALA LUMPUR, April 7 (Reuters) - Malaysian palm oil futures ended higher on Wednesday on the back of firmer soyoil markets although the surging ringgit currency nipped gains.
Palm oil, which lost 4 percent in the first quarter of 2010, is making little headway as the ringgit reached multi-month highs at the start of the second quarter.
The benchmark June crude palm oil contract
REGIONAL EQUITIES-BANGKOK, April 7 (Reuters) - Southeast Asian stock markets rose on Wednesday on increasing confidence about economic prospects in the region and the outlook for corporate earnings, with energy and banks leading the way.
Foreign inflows into Southeast Asian bourses and upward revisions to GDP growth forecasts in the region bode well for more earnings revisions, justifying higher market valuations, analysts said.
Singapore <.FTSTI> added 0.4 percent to a 21-month high and Malaysia <.KLSE> rose 0.05 percent, coming off its early gain to a 25-month high.
In Singapore, commodities firms were among top actively traded stocks, with Wilmar International
Australia's Gloucestor Coal
In Kuala Lumpur, Tenaga Nasional
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