Trader's Highlight

DJI - NEW YORK, June 16 (Reuters) - U.S. stocks finished flat on Wednesday as cautious comments from FedEx and weak housing market data overshadowed a surge in industrial production.

Investors were caught off guard after package company FedEx Corp , deemed an economic bellwether because it serves a wide range of industries, said higher costs would constrain 2011 earnings. FedEx shares slid 6 percent to
$78.07.

The U.S. government said housing starts fell more than expected in May, underscoring the uneven nature of the economic recovery and casting a shadow over better-than-expected industrial production data for the same month.

NYMEX - NEW YORK, June 16 (Reuters) - U.S. crude oil futures rose a third straight session on Wednesday, ending a choppy session at a six-week high amid mixed economic data and a government inventory report that showed crude oil stocks rose and gasoline stocks fell last week.

"The ability of the energy complex to advance significantly today without much assistance from the euro or equities suggests an energy momentum play at work," Jim Ritterbusch, president at Ritterbusch & Associates, said in a note.

Oil prices have rebounded from the 2010 low of $64.24 a barrel struck May 20. The S&P 500 index moved above its 200-day moving average on Tuesday, helping push NYMEX crude above its own key 200-day moving average.

CBOT - SOYBEANS - July up 8-1/4 at $9.57-3/4 per bushel; new-crop November up 9 at $9.24-1/2. Talk that China has bought one to two cargoes of beans supportive to prices in addition to support from excessive wet weather in Canada that was trimming canola output prospects. Some local flooding and excessive rainfall in portions of U.S. Midwest delaying final soy plantings. But outlooks called for warmer and drier weather over the next week to 10 days.

CBOT - SOYOIL - July up 0.32 cent at 38.13 cents per lb. Soybean strength supportive in addition to support from higher crude oil. U.S. Senate raises roadblock to biodiesel tax credit.

FCPO - KUALA LUMPUR, June 16 (Reuters) - Malaysian crude palm oil futures rose on Wednesday after hitting seven-month lows earlier in the day as healthy demand for European debt securities re-ignited hopes for global economic growth.

World stocks hit a one-month high and the euro briefly hit a two-week peak as strong gains on Wall Street and the relative success of this week's European debt auctions encouraged risk taking.

The benchmark September crude palm oil contract on the Bursa Malaysia Derivatives Exchange ended 14 ringgit higher at 2,380 ringgit ($728.5) a tonne. The contract feel earlier to a low of 2,367 ringgit, a level unseen since Nov. 20 last year.

Traded volume was heavy, almost doubling to 19,375 lots of 25 tonnes each.

REGIONAL EQUITIES - BANGKOK, June 16 (Reuters) - Indonesian shares climbed to
their highest level in six weeks on Wednesday as investors piled into index heavyweights amid general optimism over the economy on a day its central bank announced measures to manage capital flows.

Jakarta's benchmark stock index <.JKSE> finished the session 1 percent higher, at one point touching its highest since May 5.

Successful European debt auctions boosted hopes for global growth and lifted sentiment in Asian stock markets, with Singapore <.FTSTI> at its highest in almost five weeks, Malaysia <.KLSE> at four-week highs and Thailand <.SETI> six-week highs.