Tuesday, June 8, 2010

Breaking News-RTRS-MALAYSIA'S END-MAY PALM OIL STOCKS SEEN DOWN 0.6 PCT AT 1.61 MLN TONNES VS APRIL -REUTERS POLL

KUALA LUMPUR, June 8 (Reuters) - Malaysia's May palm oil
stocks slipped 0.6 percent to eight-month lows as domestic and
foreign demand still outpaced a rise in output, a Reuters poll
showed on Tuesday.
Stocks in the world's No.2 palm oil producer fell for the
fifth straight month to hit 1.61 million tonnes with the decline
slowing on growing crude palm oil imports from rival Indonesia,
the poll of five plantation houses showed.

Trader's Highlight

DJI-NEW YORK, June 7 (Reuters) - U.S. stocks fell on Monday, taking the S&P 500 to its lowest close in seven months, as industrials and technology shares fell and investors stayed on their heels after last week's payrolls figure discouraged buyers.

The Nasdaq fared the worst as investors unloaded positions in the most liquid large-cap technology shares. Research in Motion Ltd fell 5.2 percent to $56.56 on worries about the BlackBerry's sales and after the introduction of Apple's latest iPhone. Apple Inc lost 1.9 percent.

The Dow Jones industrial average <.DJI> fell 115.48 points, or 1.16 percent, to 9,816.49. The Standard & Poor's 500 Index <.SPX> slid 14.41 points, or 1.35 percent, to 1,050.47. The Nasdaq Composite Index <.IXIC> tumbled 45.27 points, or 2.04 percent, to 2,173.90.

NYMEX-NEW YORK, June 7 (Reuters) - U.S. crude oil futures were down on Monday, though well off early lows, as euro zone economic worries remained, after some bargain-hunting pared sharp losses earlier in the day.

The losses stuck, despite a higher opening on Wall Street on strong German factory data that eased some euro-zone concerns [.N].

On the New York Mercantile Exchange at 9:47 a.m. EDT (1347 GMT), July crude was down 55 cents, or 0.77 percent, at $70.96 a barrel, trading from $69.51 to $71.95.

CBOT-CHICAGO, June 7 (Reuters) - U.S. corn, soybean and wheat futures fell on Monday as forecasts for good weather bolstered expectations of large crops this year.

CBOT-SOYBEANS - July last down 1/2 cent at $9.34-1/2 per bushel. Tight cash markets limited declines in soybean prices.

CBOT-SOYOIL - July last down 0.32 cent at 36.46 cents per lb. Choppy, prices followed fluctuations in soyoil market throughout the trading day.

FCPO-KUALA LUMPUR, June 7 (Reuters) - Malaysian crude palm oil futures dropped to one-week lows as renewed economic concerns hit financial markets and the U.S. dollar gained.

Expectations for a slight rise in Malaysia's stocks last month also dampened sentiment in a market that has lost 8 percent so far this year on slower demand and the euro zone debt crisis.

The benchmark August crude palm oil futures on the Bursa Malaysia Derivatives Exchange fell as much as 1.5 percent, to 2,437 ringgit ($744.3) a tonne, a level unseen since June 1.

The contract ended at 2,449 ringgit, down 25 ringgit on the day, with volumes at 14,255 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, June 7 (Reuters) - Indonesian shares fell to their lowest level in over a week on Monday and other Southeast Asian
stock markets also moved lower as resource shares came under selling pressure because of lower commodity prices.

Sentiment in the region was hurt by disappointing U.S. job data and as fears mounted that European debt problems would worsen, pushing Singapore <.FTSTI>, Malaysia <.KLSE>, Thailand <.SETI> and the Philippines <.PSI> down.

In Singapore, top lender DBS fell 2.8 percent and bourse operator Singapore Exchange lost 2.3 percent

In Kuala Lumpur, Malaysia's CIMB Group was down 0.4 percent. The Stock Exchange of Thailand said the listing of CIMB in Bangkok would be delayed for a few months from June.