Trader's Highlight

DJI-NEW YORK, Jan 26 (Reuters) - The S&P 500 closed at a 29-month high on Wednesday led by gains in tech and commodity shares, as investors largely ignored the U.S. Federal Reserve's lukewarm economic assessment.

The stock market had little reaction to the Fed, which said high unemployment still justifies a $600 billion bond-buying program that has helped equities rally in the last few months.

The Dow Jones industrial average <.DJI> edged up 8.25 points, or 0.07 percent, to end at 11,985.44. The Standard & Poor's 500 Index <.SPX> advanced 5.45 points, or 0.42 percent, to 1,296.63. The Nasdaq Composite Index <.IXIC> gained 20.25 points, or 0.74 percent, to 2,739.50.

NYMEX-NEW YORK, Jan 26 (Reuters) - U.S. crude futures prices rose and ended a streak of six consecutive declines on Wednesday after technical support held above $86 a barrel and the Federal Reserve left interest rates unchanged and its $600 billion bond-buying plan intact.

Prices received lift from Wall Street's strength following President Barack Obama's call for lower corporate taxes, which could spur investment and boost energy demand.

On the New York Mercantile Exchange, March crude rose $1.14, or 1.32 percent, to settle at $87.33 a barrel, trading from $86.03 to $87.79, a high reached in post-settlement trading.

CBOT-CHICAGO, Jan 26 (Reuters) - Chicago Board of Trade grain and soy complex close on Wednesday.

CBOT-SOYBEANS - March up 11 cents at $13.85-1/2 per bushel. Gains in wheat market offer support. China demand for U.S. soy and soybean futures continue to underpin prices.

CBOT-SOYOIL - March up 0.92 cent at 56.70 cents per lb. Following soybeans, gains in crude oil futures.

FCPO-KUALA LUMPUR, Jan 26 (Reuters) - Malaysian palm oil bounced off fresh one-week lows on Wednesday on talk of production falling further this month as rains continue to batter estates.

But investors continued to factor in favourable weather across Argentina's farming belt that may relieve soy and corn crops suffering from drought.

The benchmark April crude palm oil contract on Bursa Malaysia Derivatives ended down nearly 1 percent to 3,670 ringgit ($1,202) a tonne, after going as low as 3,622 ringgit -- a level unseen since Jan. 18.

REGIONAL EQUITIES-COLOMBO, Jan 26 (Reuters) - Thailand's stock market gained on Wednesday, with demand for energy shares helping it rally from a four-month low, and Indonesia hit a one-week high as foreign inflows helped boost both markets after a recent sell-off.

Thailand saw a net $12.8 million in foreign buying, Indonesia $59.5 million and the Philippines $7.2 million, Reuters data showed.

The 14-day relative strength indexes of Thailand, Malaysia and the Philippines are just above 30, Reuters data showed. Below that, a market is considered oversold. Indonesia's index is at 45.1 and Singapore's at 52.3. Trading volumes in Thailand and Malaysia were higher than their 30-day average.