RTRS - Indonesia's Oct palm oil exports down 10 pct-industry source

SINGAPORE, Nov 17 (Reuters) - Exports of Indonesian palm oil for October dropped 10

percent to 844,354 tonnes from 938,558 shipped during September, according to Reuters

calculations based on data from an industry source.

Export data from the industry source was based on ships leaving six ports on the Indonesian

island of Sumatra -- Dumai, Belawan, Kuala Tanjung, Lubok Gaung, Teluk Bayur and Pelintung.

La Nina to stir severe rains in oil palm growing Malaysia

KUALA LUMPUR, Nov 17 (Reuters) - A weak-to-moderate La Nina weather pattern will trigger severe monsoon rains in Malaysia's key oil palm growing regions, the weather office said on Thursday, potentially disrupting harvesting and boosting prices.

The Malaysian Meteorological Department told Reuters in a statement the presence of the La Nina in the equatorial central Pacific Ocean will worsen the northeast monsoon season that runs from this month till next March.

The weather office said for November and December, parts of the key oil palm growing state of Sabah on Borneo island as well as Johor and Pahang in peninsula Malaysia will experience 20-40 percent more rainfall than their long term means for the period.

These three states alone account for 60-70 percent of total Malaysian production.

"Five to six heavy rainfall episodes are expected to occur during the season," the department said. "Heavy rain over a period of two to three days can cause floods to occur over the low-lying areas near the river banks."

This is the second time the La Nina weather condition has developed globally, which usually brings heavy rains to Southeast Asia's palm oil producers and can trigger drought conditions in soy exporting South America.

Trader's Highlight

DJI-NEW YORK, Nov 17 (Reuters) - World stocks and oil prices slumped on Thursday on heightening debt contagion fears after Spain's borrowing costs jumped to almost 7 percent at a debt auction - a level seen as unsustainable by many investors.

The euro erased most of its gains and U.S. Treasury debt prices reversed losses as investors, who had initially been encouraged by better-than-expected U.S. economic data, turned increasingly risk averse in the afternoon.

The Dow Jones industrial average <.DJI> fell 134.79 points, or 1.13 percent, to 11,770.80, while the Standard & Poor's 500 Index <.SPX> declined 20.63 points, or 1.67 percent, to 1,216.28. The Nasdaq Composite Index <.IXIC> finished down 51.62 points, or 1.96 percent, at 2,587.99.

NYMEX-NEW YORK, Nov 17 (Reuters) - U.S. crude futures fell nearly 4 percent on Thursday as investors booked profits after prices jumped more than 3 percent to close at a five-month high above $102 a barrel in the previous session.

Gasoline futures led the oil complex lower as refiners returned from seasonal maintenance at a time of weak demand, rising stockpiles and a sell-off across commodity and equities markets.

On the New York Mercantile Exchange, December crude fell $3.77, or 3.67 percent, to settle at $98.82 a barrel, posting the biggest one-day percentage loss since Sept. 28. The trading range was from $98.28 to $103.37.

CBOT-SOYBEANS, Soybean futures on the Chicago Board of Trade fell 1.5 percent in sympathy with a 4 percent plunge in CBOT corn tied to poor exports and a broad sell-off in commodities due to risk aversion, traders said.

CBOT soymeal and soyoil futures followed the weak trend in soybeans, with meal finding light underlying support as traders unwound long oil/short meal spreads.

Soy market fell despite a recent round of Chinese purchases of U.S. soybeans and expectations of traders in Beijing that more deals were likely.

FCPO-JAKARTA, Nov 17 (Reuters) - Malaysian palm oil futures touched a five month peak before turning negative on Thursday, as investors booked profits after prices were boosted by robust demand and investor expectations of lower production in key Asian planters.

Benchmark January palm oil futures on the Bursa Malaysia Derivatives Exchange closed 0.9 percent lower at 3,212 Malaysian ringgit ($1,019) per tonne. Prices earlier touched a peak at 3,268 ringgit, a level not seen since June 15.

REGIONAL EQUITIES-BANGKOK, Nov 17 (Reuters) - Southeast Asian stock markets pulled lower on Thursday, led by commodities-related stocks and financials as short-term traders cashed in quick gains because of the euro zone debt crisis, which risks damaging global growth.

Losses in the emerging region were in line with broad Asia as doubts deepened about Europe's ability to stop its sovereign debt crisis from spinning out of control, with Germany and France split over the European Central Bank's bond-buying role.

For most markets, trading volume remained fairly flat, with turnover in Indonesia half the monthly average while volume in Singapore and Malaysia was around 20 percent short of the average.

"Retail investors remained active in the Malaysian market ... To be honest, its 'touch and go' kind of trading, so I suspect traders will keep trades small so they can square positions easily," a Kuala Lumpur broker said.

Technical-led selling hit big-cap banks, brokers said. Malaysia's Malayan Banking BHD lost 1.1 percent, reversing Wednesday's 1.5 percent rise, while Thailand's Kasikornbank Pcl was down 2.2 percent.