Trader's Highlight

DJI-NEW YORK, June 20 (Reuters) - U.S. stocks rose on Monday, as the latest development to reduce Greece's debt helped draw buyers and the S&P 500 touched a key support level, but anemic volume signalled the recent weakness may not be over.

Stocks erased early losses as the S&P 500 dipped toward 1,259.78, its 200-day moving average, which is often viewed as a pivotal point in determining the market's direction. A drop below that level would be the first since September 2010.

The Dow Jones industrial average .DJI climbed 76.02 points, or 0.63 percent, to end at 12,080.38. The Standard & Poor's 500 Index .SPX rose 6.86 points, or 0.54 percent, to 1,278.36. The Nasdaq Composite Index .IXIC gained 13.18 points, or 0.50 percent, to 2,629.66 at the close.

NYMEX-NEW YORK, June 20 (Reuters) - U.S. crude futures edged up on Monday, lifted by WTI/Brent spread trade ahead of the NYMEX July crude contract's expiration on Tuesday, traders said.

A late bounce on Wall Street was also supportive but continued uncertainty on how the Greek debt crisis could be resolved kept investors nervous, they added.

Greece's problems pressured the euro as European finance ministers failed to give clarity on Greece's outlook as they delayed a decision on the next tranche of financial aid.

On the New York Mercantile Exchange, July crude CLN1, which expires on Tuesday, settled at $93.26 a barrel, up 25 cents, trading between $91.14 and $93.49.

CBOT-SOYBEANS-U.S. soybean futures on the Chicago Board of Trade closed higher on a short-covering bounce after the market fell in six of the previous seven sessions, traders said.

Talk of firm cash markets in Brazil tied to recent sales of Brazilian soy to China added support.

USDA's weekly crop progress report late Monday afternoon was expected to show a slight improvement in U.S. corn and soybean ratings as hot weather in key growing areas of the Midwest helped aid crop development - trade.

FCPO-JAKARTA, June 20 (Reuters) - Malaysian palm oil futures ended flat on Monday, after dropping to a five-week low in the previous session, as falling crude and an uncertain supply and demand outlook offset positive export numbers from No.2 producer Malaysia.

The benchmark September crude palm oil contract KPOc3 on the Bursa Malaysia Derivatives Exchange closed nearly 0.2 percent lower at 3,193 Malaysian ringgit ($1,051) a tonne, after hitting an earlier high at 3,221 ringgit.

Exports of Malaysian palm oil products for June 1-20 rose 22 percent to 969,804 tonnes from 794,322 tonnes shipped during May 1-20, cargo surveyor Intertek Testing Services said.

Palm olein's discount to competing soyoil has widened at a time when China and India are restocking. Muslim countries are also in the market to buy extra supplies ahead of Ramadan in August, when vegetable oil consumption rises as fasting in the day is followed by feasts and dinner gatherings at night.

Traded volume for the September contract closed at 13,236 lots of 25 tonnes each, versus a total at 18,364 lots on Friday.

On Friday, benchmark prices touched its lowest level since May 6 at 3,163 ringgit, due in part to growing stock levels.

Stocks in Malaysia are expected to rise above a 16-month high of 1.92 million tonnes hit last month. While this could draw in more demand, the country is going through a high production period.

REGIONAL EQUITIES-BANGKOK, June 20 (Reuters) - Most Southeast Asian stock markets remained depressed on Monday as a delay in a final decision on extending emergency loans to Greece ate into risk appetite and a fall in crude prices triggered selling in resource stocks.

The markets traded in a fairly narrow range, most still seeing weak volume, as last week, with turnover in the Thai .SETI and Indonesian .JKSE bourses half the 30-day average.

Thailand's SET Index fell 0.6 percent, extending losses into a fourth session, while Vietnam .VNI dropped 1.7 percent to the lowest in almost two weeks and Malaysia .KLSE edged down 0.3 percent, with the selling led by local investors.

Late bargain-hunting helped reverse early losses in Singapore .FTSTI and Indonesia .JKSE, which ended up 0.28 percent and 0.18 percent respectively. The trend in the region would remain weak, brokers said.