Trader's Highlight

DJI-NEW YORK, Oct 21 (Reuters) - Wall Street edged higher in a volatile session on Thursday, torn between strong corporate earnings and a surge in the U.S. dollar.

The market swung in a wide range throughout the day as investors reacted to gyrations in the currency markets and as relatively strong earnings took a back seat.

The Dow Jones industrial average <.DJI> gained 38.60 points, or 0.35 percent, to 11,146.57. The Standard & Poor's 500 Index <.SPX> gained 2.09 points, or 0.18 percent, to 1,180.26. The Nasdaq Composite Index <.IXIC> gained 2.28 points, or 0.09 percent, to 2,459.67.

NYMEX-NEW YORK, Oct 21 (Reuters) - U.S. crude oil futures prices slumped more than 2 percent on Thursday as the dollar's recovery from an earlier dip sparked a sell-off while doubts resurfaced about the extent of potential U.S. monetary easing.

The slide followed crude oil's biggest daily percentage gain in more than a month on Wednesday, following a 4 percent dive the previous day, when China raised interest rates.

On the New York Mercantile Exchange, December crude fell $1.98 or 2.4 percent to settle at $80.56 a barrel, trading from $80.09 to $82.70.

CBOT-CHICAGO, Oct 21 (Reuters) - Chicago Board of Trade grain and soy complex close on Thursday.

CBOT-SOYBEANS - November down 10-1/2 cents at $12.01-1/2 per bushel; January down 10-3/4 at $12.13. Upturn in the dollar weighed. Also pressured by spillover from corn and wheat, but market underpinned by strong export sales of U.S. soy, especially to China.

CBOT-SOYOIL - December down 0.23 cent at 48.24 cents per lb. Following weakness in soybeans and downturn in crude oil.

FCPO-KUALA LUMPUR, Oct 21 (Reuters) - Dalian soyoil hit a 26-month high on Thursday and Malaysian palm oil rose above 3,000 ringgit as traders bet strong vegetable oil demand will continue to drive soybean crushing in China.

A flurry of Chinese economic data issued earlier in the day showed the world's second-largest economy was strong but far from overheating, signalling agriculture markets that imports will stay strong.

The most active May 2011 soyoil contract on the Dalian Commodity Exchange jumped 2.8 percent to settle at 9,192 yuan ($1,382) after going as high as 9,260 yuan ($1,392) a tonne -- the highest for the fifth month since Aug. 26 2008.

China's soybean demand also supported third-month palm oil on Bursa Malaysia , which touched an intraday high of 3,021 ringgit ($968.3) a tonne -- a level unseen since July 28, 2008.

Malaysia's palm oil eased to settle at 2,990 ringgit ($958.3) per tonne. Traded volume was heavy with 14,910 lots of 25 tonnes each compared to the usual 10,000 lots.

Some analysts said palm oil breaching the 3,000 ringgit level may not be sustainable even though Reuters technical analysis showed palm oil has resumed its uptrend, as the previous wave "5" peak at 2,970 ringgit per tonne has been surpassed.

REGIONAL EQUITIES-BANGKOK, Oct 21 (Reuters) - Most Southeast Asian stock markets edged higher on Thursday, regaining a little lost ground as investors sought value in resource shares in particular.

Asian stocks in general recovered and the dollar rose after U.S. Treasury Secretary Timothy Geithner said ahead of a G20 meeting that major currencies were roughly in alignment.

Equity indexes in Malaysia <.KLSE> and Indonesia <.JKSE> eked out small gains of 0.3 percent, Thailand <.SETI> inched up 0.07 percent, Vietnam <.VNI> ended up 0.7 percent and the Philippines <.PSI> rose 1.3 percent.

But Singapore <.FTSTI> erased its early small gain to end 0.5 percent lower. Among gains in the region, Singaporean palm plantation firm Wilmar International Ltd rose 1.8 percent, reversing a loss in the previous session, and Malaysia's IOI Corp Bhd gained 0.4 percent.

In Singapore, Keppel Corp rose 0.6 percent. After the close, the world's largest rig-builder reported a better-than-expected 8.4 percent rise in quarterly net profit, helped by strong margins in its offshore marine business.