RTRS- Malaysia delays tax free crude palm oil export quotas

KUALA LUMPUR, Jan 30 (Reuters) - Malaysia has delayed issuing quotas to export crude palm oil without taxes for 2012 as it drafts policy to counter competition from top supplier Indonesia, which slashed its export taxes for refined oil, sources told Reuters.

The delay by Malaysia, the world's No.2 producer, leaves more supply for local processors, but comes at a time when demand for Malaysian refined oil has fallen due to the cheaper prices of Indonesian edible oil.

Plantations holding export licences say the delay is hampering their ability to supply overseas refiners with feedstock and meet existing export contracts, putting in jeopardy Malaysia's $26 billion edible oil industry.

RTRS -POLL-CBOT soy price to fall 4 percent in 2012

CHICAGO, Jan 30 (Reuters) - Soybean prices are likely to fall for a second straight year by the end of 2012 if crop weather in the United States, the world's top producer, improves after a difficult season in 2011, a Reuters poll showed.

Front-month soybean futures at the Chicago Board of Trade should finish 2012 at $11.47 a bushel, down about 4 percent from the end of 2011, a poll of 12 analysts showed.

"I think we'll have periods where (prices) will go up from where we are, but overall if we have normal weather we'll see an easing of the tight supply for everything," said Terry Roggensack, analyst for The Hightower Report.

Trader's Highlight

DJI- NEW YORK, Jan 30 (Reuters) - U.S. stocks edged lower on Monday on stalled Greek debt talks, but an afternoon rally cut losses in a sign of the underlying resilience the market has shown early in the year.

Major indexes had fallen more than 1 percent as negotiations between the Greek government and private bondholders over the restructuring of 200 billion euros of debt failed to reach an agreement before the start of a summit of European leaders.

But by the afternoon those losses were cut sharply. Optimism that the U.S. markets can shrug off Europe's troubles has fueled gains in 2012, with the S&P 500 up 4.7 percent this month. Money managers, some of whom missed the upward move, appear willing to buy on intraday declines.

The Dow Jones industrial average <.DJI> dropped 6.74 points, or 0.05 percent, to 12,653.72. The Standard & Poor's 500 Index <.SPX> lost 3.31 points, or 0.25 percent, to 1,313.02. The Nasdaq Composite Index <.IXIC> fell 4.61 points, or 0.16 percent, to 2,811.94.

NYMEX- Jan 30 (Reuters) - U.S. crude futures ended lower for a second straight session on Monday as stalled Greek debt restructuring talks pulled the dollar up against the euro, which prompted investors to pare holdings in risky assets such as oil.

Oil shed some of its Iran-related risk premium as well, as Iranian politicians postponed a debate on halting crude exports to Europe.

Trading was choppy as Iran sent mixed signals after its oil minister, Rostam Qasemi, said Tehran would soon stop exporting to "some" countries, though he did not identify them. His remarks kept up the Islamic Republic's rhetoric against the European's Union's move to ban Iranian crude by July 1.

On the New York Mercantile Exchange, crude for March delivery settled at $98.78 a barrel, falling 78 cents, or 0.78 percent, after trading between $98.43 to $100.05.

CBOT-SOYBEANS, Soybean futures on the Chicago Board of Trade fell nearly 3 percent, their biggest single-day loss since September, pressured by much-needed rains in South American crop areas and a firmer dollar, traders said.

CBOT March soybeans fell below their 20-day moving average at $12.06 and ended below $12 for the first time since Jan. 20.

The dollar rose against the euro, a bearish signal for dollar-backed U.S. grains and oilseeds, as investors bet there will be little resolution in the near term on a Greek debt deal.

Traders also said the inability of China's Dalian soy futures to post a significant rally after last week's Lunar New Year holiday lent pressure to CBOT soy.

FCPO- SINGAPORE, Jan 30 (Reuters) - Malaysian crude palm oil slipped to a five-week low on Monday on slowing demand and investor caution ahead of a likely debt swap deal for Greece that would help the country avoid a messy default.

European leaders will sign off on a permanent rescue fund for the euro zone at a summit on Monday although unresolved problems in Greece are expected to cast a shadow on the discussions.

In signs of slowing demand for palm oil, cargo surveyors' reports showed a double-digit decline in Malaysian palm oil exports from Jan. 1 to 25.

A stronger ringgit used to price palm oil feedstock also made the commodity more expensive for refiners, limiting trade interest in the palm oil market that has lost close to 3 percent this month.

Benchmark April palm oil futures on the Bursa Malaysia Derivatives Exchange lost 1.7 percent to close at 3,082 ringgit ($1,009) per tonne. Prices earlier touched 3,079 ringgit, a level last seen since Dec. 22. Traded volumes stood at 24,058 lots of 25 tonnes each, just slightly lower than the usual 25,000 lots.

REGIONAL EQUITY- Jan 30 (Reuters) - Southeast Asian stock markets fell on Monday with Indonesia hitting a two-week low as worries about the prospects of a Greek swap deal and weaker-than-expected U.S. economic growth weighed on the market.

Shares of banks led the fall as investors booked profits after a four-week rally.

Indonesia's benchmark <.JKSE> fell 1.8 percent hit by a sell-off from foreign funds and a trading error at the Jakarta Stock Exchange that prevented 70 percent of listed brokers from executing transactions, the bourse said.

Singapore <.FTSTI> lost 1 percent, the Philippines <.PSI> fell 0.8 percent, Malaysia <.KLSE> slid 0.5 percent, and Thailand <.SETI> closed 0.2 percent weaker.

Trader's Highlight

DJI- NEW YORK, Jan 27 (Reuters) - World stocks fell on Friday on news the U.S. economy grew more slowly than expected in the last quarter of 2011, while the euro rose on hopes of an imminent deal on Greece's debt that could help avert a disorderly default.

The United States, the world's biggest economy, grew at an annualized 2.8 percent pace late last year, the fastest quarterly rate in 1-1/2 years. But it fell short of economists' forecast, fueling worries about U.S. growth in 2012 and bets that the Federal Reserve would need to provide more help.

Fed Chairman Ben Bernanke this week painted a picture of an economy mired in slow growth, and the Fed delayed the timing for an interest rate hike until at least late 2014. He also suggested the U.S. central bank is open to buying more bonds in
a bid to stimulate borrowing and investments.

The Dow Jones industrial average closed down 74.17 points, or 0.58 percent, at 12,660.46. The Standard & Poor's 500 Index finished down 2.11 points, or 0.16 percent, at 1,316.32. The Nasdaq Composite Index ended up 11.27 points, or 0.40 percent, at 2,816.55.

NYMEX- NEW YORK, Jan 27 (Reuters) - U.S. crude oil futures ended lower on Friday after erasing early gains as lower-than-expected U.S. economic growth data for the fourth quarter of 2011 turned investors cautious.

Losses were slim on fears of supply disruption. Iran warned it may halt oil exports to Europe as early as next week in response to the EU's move to ban the country's crude by July.

The decline in crude futures was softened by a rally on gasoline futures.

On the New York Mercantile Exchange, crude for March delivery settled at $99.56 a barrel, dipping 14 cents, or 0.14 percent. For the week, front-month crude rose $1.10, or 1.1 percent, from the Jan. 20 close of $98.46.

CBOT- SOYBEANS, Chicago Board of Trade soybean futures closed lower Friday on better crop prospects for Argentine thanks to recent timely rainfall and on forecasts for more rain next week.

The euro pared gains slightly against the dollar after U.S. fourth-quarter GDP data were released, although the European currency had initially managed to hold its ground.

Argentina's soy and corn harvests will be smaller this season than in the previous crop year, the Buenos Aires Grains Exchange said, underlining concerns that recent dry weather might crimp world food supplies.

Drier weather was expected Friday through the weekend in Argentina followed by another round of crop-friendly showers next week. "There will be significant rains Wednesday and Thursday of 0.50 inch to 2.00 inches or more right where they need them in the big soybean producing area," said Don Keeney, meteorologist for MDA EarthSat Weather.

FCPO- SINGAPORE, Jan 27 (Reuters) - Malaysian crude palm oil edged up on Friday in thin trades, lifted by optimism over the U.S. Federal Reserve's pledge to keep interest rates low although gains were capped by fears of slowing demand.

The Fed move raised prospects of stronger global economic growth and commodity demand, but investors remained cautious on signs that demand is slowing for No.2 producer Malaysia.

Cargo surveyors' reports suggested a double-digit decline in Malaysian palm oil exports from Jan. 1 to 25, which some traders attributed to a shift in orders to Indonesia, which is imposing lower export taxes.

Benchmark April palm oil futures on the Bursa Malaysia Derivatives Exchange inched up 0.1 percent to close at 3,135 ringgit ($1,031) per tonne. The futures have lost 1.4 percent so far this year. Traded volumes were thin at 16,381 lots of 25 tonnes each, compared to the usual 25,000 lots

REGIONAL EQUITY- Jan 27 (Reuters) - Most Southeast Asian stock markets ended higher on Friday, recovering early losses and extending their rally to a fourth week, as investors hoped for a successful conclusion to Greek debt talks and awaited data which is expected to show more strength in the U.S. economy.

Despite concerns about the European debt crisis, investors have been optimistic on riskier, emerging market assets in Asia so far this year, pushing the Singapore market up more than 10 percent and the Philippines up 7 percent.

Regional analysts said the rally can be sustained as the markets have factored in a lot of bad news about Europe and uncertainty about the U.S. recovery.

On Friday, both Thailand <.SETI> and Singapore <.FTSTI> rose to near five-month highs, each gaining more than 0.7 percent, while the Philippines <.PSI> surged 1.5 percent, snapping a three-day losing streak.

In Singapore, Shares of Keppel Corp , the world's largest rig builder, gained 0.8 percent as the company reported a 11 percent rise in fourth quarter net profit.

Singapore-listed forestry firm United Fiber System Ltd closed 39.3 percent higher, after surging 71 percent at one point in the early trade on Friday, after announcing it was doing a S$1.5 billion reverse takeover deal with Indonesian coal miner PT Golden Energy Mines Tbk to refocus its business on coal mining.

RTRS-Indonesia's Q1 crude palm output seen at 4.5 mln T

JAKARTA, Jan 26 (Reuters) - Crude palm oil (CPO) output in Indonesia, the world's top producer of the vegetable oil, is seen rising 8 percent from a year ago to 4.5 million tonnes in the first quarter, an industry group said on Thursday.

Indonesia's government sees full-year output rising 14 percent to 25.7 million tonnes this year.

Derom Bangun, vice chairman of the Indonesian Palm Oil Board (IPOB), said he expected demand and weather problems to push up prices for the edible oil from around $1,000 a tonne now, despite the increase in Indonesian output.

Trader's highlight

DJI- NEW YORK, Jan 26 (Reuters) - U.S. stocks sagged on Thursday as traders cashed in on red-hot bank and technology shares, while the Federal Reserve's commitment to easy money to help the U.S. economy rebound weakened the dollar.

The statement by the Fed, which announced on Wednesday it would probably keep interest rates near zero until at least late 2014 - some 18 months later than the Fed had suggested last year - intensified buying of medium- and long-term U.S. government debt. [ID:nL2E8CODR8] The yield on five-year U.S. notes hit 0.7538 percent, a low going back at least 50 years.

The Dow Jones industrial average <.DJI> closed down 22.33 points, or 0.18 percent, at 12,734.63. The Standard & Poor's 500 Index <.SPX> finished down 7.60 points, or 0.57 percent, at 1,318.45. The Nasdaq Composite Index <.IXIC> ended down 13.0 points, or 0.46 percent, at 2,805.28.

NYMEX- NEW YORK, Jan 26 (Reuters) - U.S. crude oil futures ended higher on Thursday, though gains ebbed in late trading as Wall Street slipped and the dollar recouped some losses.

Follow-through buying led to early gains in oil after theU.S. Federal Reserve committed on Wednesday to low rates, combined with concerns about Iran saying it may stop oil sales to European Union countries ahead of the EU's July 1 embargo.

Iran's parliament will debate on Sunday a bill that would oblige the government to halt oil exports ahead of the July 1 deadline the EU set in order to soften the blow to the economies of Greece, Italy and others to which Iran is a major supplier.

On the New York Mercantile Exchange, March crude rose 30 cents, or 0.3 percent, to settle at $99.70 a barrel, having traded from $99.23 to $101.39.

CBOT- SOYBEANS, Chicago Board of Trade soybean futures closed higher on a weaker dollar after the U.S. Federal Reserve decided to leave interest rates near zero for at least a couple more years.

Slow farmer selling and strong cash basis markets likewise lent support, and traders continued to eye the weather in South America for market direction.

FCPO- KUALA LUMPUR, Jan 26 (Reuters) - Malaysian crude palm oil dropped 1.2 percent on Thursday as traders booked profits on slowing export demand, with orders shifting to top producer and competitor Indonesia.

Palm oil bucked the trend in commodity markets -- from oil to soybeans -- that rose after the U.S. Federal Reserve said it would keep interest rates near zero until at least late 2014, providing ample liquidity to spur growth.

Benchmark April palm oil futures on the Bursa Malaysia Derivatives Exchange dropped 1.2 percent to settle at 3,131 ringgit ($1,030)per tonne. Traded volumes were thin after the long weekend holiday at 17,860 lots of 25 tonnes each, versus the usual 25,000 lots.

REGIONAL EQUITY- Jan 26 (Reuters) - Most Southeast Asian stock markets gained on Thursday, with Thailand nearing a five-month high after the U.S. Federal Reserve said it would keep interest rates low for a much longer-than-expected period, ensuring there will be ample liquidity to help spur growth.

Singapore <.FTSTI> edged up 0.1 percent, but the Philippines <.PSI> fell for a third straight session on profit taking, shedding 1.3 percent.

Singapore's stock index was weighed down by profit taking in early activity after nearing the key resistance level of 2,900, traders said, but late buying helped it to end at 2,894.43.

Shares of Singapore-listed technology firm China Auto Corp Ltd leapt over 50 percent after it said its associate had reached a deal to sell some assets to a unit of shipping firm Neptune Orient Lines (NOL) .

Trader's highlight

DJI-NEW YORK, Jan 25 (Reuters) - Big profits from Apple and a promise from the Federal Reserve to keep rock-bottom rates for at least two more years powered the U.S. stock market higher on Wednesday.

The Dow Jones industrial average <.DJI> rose 83.10 points, or 0.66 percent, at 12,758.85. The Standard & Poor's 500 Index <.SPX> was up 11.41 points, or 0.87 percent, at 1,326.06. The Nasdaq Composite Index <.IXIC> ended up 31.67 points, or 1.14 percent, at 2,818.31.

NYMEX-NEW YORK, Jan 25 (Reuters) - U.S. crude futures rose on Wednesday after the U.S. Federal Reserve said it would keep interest rates low at least through late 2014 and on support from strong gasoline futures.

At the end of a two-day policy meeting, the Fed said that, while the economy was expanding moderately despite slowing global growth, the U.S. unemployment rate was still elevated and that the economy faces "significant downside
risks."

On the New York Mercantile Exchange, crude rose 45 cents, or 0.45 percent, to settle at $99.40 a barrel, having traded from $97.53 to $100.40.

CBOT- SOYBEANS, Chicago Board of Trade soybean futures closed lower on recent improved soy crop prospects in Argentina due to timely rainfall.

FCPO-KUALA LUMPUR, Jan 25 (Reuters) - Malaysian crude palm oil futures edged up in post-holiday trade on Wednesday as traders focused on dry south American weather affecting soy yields, although concerns of a looming Greek debt default curbed
gains.

Investors shifted their focus to the U.S. Federal Reserve that is expected to keep interest rates at ultra-low levels at the end of a two-day meeting on Wednesday, potentially weakening the U.S. dollar.

Benchmark April palm oil futures on the Bursa Malaysia Derivatives Exchange settled up 0.1 percent at 3,169 Malaysian ringgit ($1,030) per tonne. Traded volumes were thin after the long weekend at 9,267 lots of 25 tonnes each, versus the usual 25,000 lots.

Regional Equity- Jan 24 (Reuters) - Most Southeast Asian stock markets slid on Wednesday as foreigner investors took profits after last week's rally, but Singapore rose to a three-month high on earning hopes.

Regional analysts said investors were still awaiting developments on the European debt crisis after governments and private bond holders failing to come to an agreement on a restructuring of Greece's debt on Tuesday.

Singapore bucking the trend, jumped 1.5 percent to its highest since Oct. 28 as it resumed trading after a long weekend, with upbeat earnings from technology bellwether Apple boosting sentiment.

Shares in Singapore rig builder Sembcorp Marine Ltd ended 3.6 percent firmer after an industry publication quoting Goldman Sachs and Nomura said the rig builder had won an order for a drillship from a Brazilian firm.

Shares of Singapore-listed Chinese firm Ying Li International Real Estate Ltd surged 11.9 percent after a brokerage stoked expectations that China may relax some property curbs, helping in a re-rating of the stock, traders said.

Singapore is the region's top performer so far this year with a 9.3 percent gain followed by the Philippines.

RTRS-Malaysia's 2012 palm oil output seen inching up

KUALA LUMPUR, Jan 19 (Reuters) - Malaysia's 2012 palm oil production is expected to rise for a second year as more estates start producing after the opening up of land in Borneo and an aggressive replanting campaign from two to three years ago, an industry body official said on Thursday.

Output this year will inch up 2.3 percent to 19.3 million tonnes from 18.9 million tonnes in 2011 driven partly by the maturity of new planted areas in Sarawak state in Borneo island, said an official from the Malaysian Palm Oil Board.

The first official forecast on Malaysia widens the gap between the No.2 producer and its biggest rival, Indonesia, where output is expected to rise six percent to 25 million tonnes this year.

Trader's Highlight

DJI- NEW YORK, Jan 19 (Reuters) - U.S. stocks rose for the third straight day on Thursday, sparked by results from Bank of America and Morgan Stanley and as the latest jobless claims dropped to a near four-year low.

The S&P 500 hit a fresh five-month high, with the industrials, consumer discretionary stocks and financials leading gains.

Tech shares advanced ahead of earnings from a number of bellwethers expected after the close.

The Dow Jones industrial average <.DJI> rose 45.03 points, or 0.36 percent, to end at 12,623.98. The Standard & Poor's 500 Index <.SPX> gained 6.46 points, or 0.49 percent, to 1,314.50. The Nasdaq Composite Index <.IXIC> climbed 18.62 points, or 0.67 percent, to close at 2,788.33.

NYMEX-NEW YORK, Jan 19 (Reuters) - U.S. crude futures edged lower on Thursday as continuing weak demand and firm technical resistance countered optimism about the euro zone tackling its debt problems and a report showing falling crude stocks in the United States.

U.S. gasoline demand last week plummeted to the lowest level in more than a decade, government data showed.

U.S. weekly crude stocks fell 3.44 million barrels last week, the U.S. Energy Information Administration said in its weekly report, against a forecast for a build of 2.8 million barrels.

On the New York Mercantile Exchange, February crude fell 20 cents, or 0.2 percent, to settle at $100.39 a barrel, trading from $99.98 to $102.06, falling to that low in post-settlement trading.

CBOT- SOYBEANS, Soybean futures on the Chicago Board of Trade rose more than 1 percent on firmer cash soy markets amid talk of Chinese demand, along with support from a weaker dollar, traders said.

Cash values for soybeans firmed at the U.S. Gulf CIF market as well as in the interior U.S. Midwest, buoyed by a mix of export interest, processor demand and slow farmer selling.

FCPO-SINGAPORE, Jan 19 (Reuters) - Malaysian crude palm oil futures eased on Thursday as prospects of higher stocks and slowing demand of the edible oil offset news that the International Monetary Fund will help to tackle the euro zone
debt crisis.

The IMF move may prevent the euro zone debt crisis from deepening. Concerns of slower economic growth and weaker commodity demand from the over two-year old financial crisis has weighed on palm oil futures that are 0.6 percent down so far
this year.

Investors were focusing on talks of higher-than-expected stock levels, rising production in Malaysia and lacklustre export trend in recent weeks that could depress prices.

Benchmark April palm oil futures on the Bursa Malaysia Derivatives Exchange fell 0.7 percent to close at 3,157 ringgit ($1017) per tonne. Traded volumes stood at 25,812 lots of 25 tonnes each, just slightly higher than the usual 25,000 lots.

REGIONAL EQUITIES- BANGKOK, Jan 19 (Reuters) - Indonesia's stock market hit a four-month high on Thursday after a rating upgrade the day before and most other Southeast Asian markets edged higher after news the International Monetary Fund could provide further help to tackle the euro zone debt crisis.

Late selling left indexes off their highs as investors looked for cash ahead of the Chinese New Year holidays.

In Jakarta, investors bought stock after Moody's upgrade of the country's debt rating to investment grade. That could spur more foreign flows to Indonesia and give Indonesian assets a bigger share in global fund portfolios.

Indonesia's main index could test 4,600 this year, according to Harry Su, head of research at Jakarta-based broker Bahana Securities. That would be way above the intraday record high of 4,195.72 set in August. It closed at 4,001.07 <.JKSE> on
Thursday.

Singapore's Noble Group Ltd rose 3.9 percent, top Thai energy firm PTT Pcl added 1.5 percent and Malaysia's Petronas Chemicals Group Bhd rose 0.6 percent.

REUTERS POLL-MALAYSIA'S PALM OIL FUTURES TO AVERAGE 3,000 RGT/TONNE IN 2012, UNCHANGED FROM JULY SURVEY

KUALA LUMPUR, Jan 18 (Reuters) - Average palm oil prices are set to decline in 2012 for the first time in three years, squeezed by ample supply from Southeast Asia and faltering demand as global growth weakens because of Europe's debt crisis.

A median poll of 25 analysts tracking top palm oil producers Indonesia and Malaysia showed 2012 price expectations for the tropical oil stood at a median 3,000 ringgit ($960) per tonne, unchanged from a survey conducted in July.

The forecast goes 7.3 percent lower than a record average of 3,237 ringgit per tonne notched last year, when most of the gains came from floods swamping estates in Malaysia in early 2011 at a time of strong demand.

Analysts say the scenario is now different, with Malaysia's opening palm oil stocks well above 2 million tonnes and La Nina-driven rains in late 2011 having a very muted impact on output this year.

RTRS- La Nina weather pattern weakening - Australia

SYDNEY, Jan 18 (Reuters) - La Nina, a weather phenomenon usually linked to heavy rains and flooding in the Asia-Pacific region and South America and drought in Africa, has displayed signs of weakening over the past two weeks, Australia's weather bureau said on Wednesday.

"While La Niña conditions clearly remain, some indicators have weakened over the past fortnight," the Australian Bureau of Meteorology said.

A majority of climate models surveyed by the bureau suggest a gradual decline of La Niña, with most models suggesting an end of the event during the coming Australian autumn, it said.

Trader's highlight

DJI- NEW YORK, Jan 18 (Reuters) - U.S. stocks jumped to their highest since July on Wednesday as the International Monetary Fund sought to help countries hit by the European debt crisis, while forecast-beating earnings from Goldman Sachs dispelled some worries over bank profits.

The stronger-than-expected earnings from Goldman Sachs Group Inc followed disappointing results from Citigroup on Tuesday and JPMorgan Chase & Co last week.

The Dow Jones industrial average <.DJI> rose 96.88 points, or 0.78 percent, to close at 12,578.95. The Standard & Poor's 500 Index <.SPX> added 14.37 points, or 1.11 percent, to 1,308.04. The Nasdaq Composite Index <.IXIC> climbed 41.63 points, or 1.53 percent, to close at 2,769.71.

NYMEX- NEW YORK, Jan 18 (Reuters) - U.S. crude futures edged lower as a weak global demand outlook weighed on oil prices even as news that Hovensa's large refinery in St. Croix will shut next month sent gasoline futures sharply higher and limited
crude losses.

The IEA in its monthly report cut its world oil demand growth forecast for 2012 by 220,000 barrels per day to 1.1 million bpd.

Further downgrades to global GDP estimates will trigger cuts in global oil consumption estimates, the IEA said.

On the New York Mercantile Exchange, February crude fell 12 cents, or 0.12 percent, to settle at $100.59 a barrel, having traded from $99.84 to $102.06.

CBOT- SOYBEANS, Soybean futures on the Chicago Board of Trade showed modest losses by the closing bell on Wednesday, pressured by wetter forecasts for Argentina, but the market pared early declines and traded higher at times on talk of Chinese demand, traders said.

Soy crushing margins in China have turned positive, analysts said, a factor that could stimulate export interest for U.S. soybeans -- at a time when wet weather in parts of central Brazil threatens to slow that country's early soy harvest.

Soy market also underpinned by weaker U.S. dollar, which tends to support dollar-backed grains and oilseeds.

Additional support from uncertainty over soy production prospects in Argentina, and firming cash soy markets in the interior U.S. Midwest.

FCPO- SINGAPORE, Jan 18 (Reuters) - Malaysian crude palm oil futures inched up on Wednesday as expectations that erratic weather in South America and Southeast Asia could limit edible oil supply overshadowed lingering European debt worries. Investors shifted their focus back to Europe ahead of a Portugal debt sale and as Greece resumes its debt restructuring talks.

But prospects of worsening drought in Argentina and wet weather in Malaysia lifted palm oil futures, which are slightly up by 0.2 percent so far this year.

Benchmark April palm oil futures on the Bursa Malaysia Derivatives Exchange rose 0.5 percent to close at 3,180 ringgit ($1022) per tonne. Traded volumes picked up after the midday break to end at 26,861 lots of 25 tonnes each, compared to the usual 25,000 lots.

REGIONAL EQUITIES- BANGKOK, Jan 18 (Reuters) - Indonesian stocks pushed higher on Wednesday, reversing early losses after Moody's upgraded the credit status of Southeast Asia's biggest economy to investment grade, with banks rallying following deposit ratings upgrades by the ratings agency.

Jakarta's Composite Index <.JKSE> edged up 0.6 percent. Among nine Indonesian banks in the Moody's list, PT Bank Mandiri Tbk climbed 2.2 percent and PT Bank Rakyat Indonesia Tbk gained 1.4 percent.

Most other Southeast Asian stock markets were lower as market players took quick profits after Tuesday's rally following above-forecast GDP growth in China.

Singapore <.FTSTI> fell 0.7 percent, Malaysia <.KLSE> eased 0.13 percent and Thai stocks <.SETI> was down 0.5 percent.

RTRS-INDONESIA'S DEC PALM OIL EXPORTS DOWN 29 PCT AT 1,041,491 TONNES VS NOV AT 1,465,828 TONNES- INDUSTRY SOURCE

KUALA LUMPUR, Jan 17 (Reuters) - Exports of Indonesian palm oil for December fell 29
percent to 1,041,491 tonnes from a revised 1,465,828 tonnes shipped during November, 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.

RTRS-OIL WORLD CUTS ARGENTINE 2012 SOYBEAN CROP FORECAST BY 2 MLN T TO 50.0 MLN T

HAMBURG, Jan 17 (Reuters) - Hamburg-based oilseeds analysts Oil World cut its forecasts of 2012 soybean crops in key exporters Argentina and Brazil by a combined 3.8 million tonnes, which could help raise demand for U.S. soy on global markets.

The cuts follow drought in parts of South America, which also caused the U.S. Department of Agriculture to reduce crop forecasts for the region. Some recent rain fell in Argentina, but a return to hot and dry weather is again forecast, Oil World said.

Oil World said on Tuesday it had cut its forecast of Argentina's 2012 soybean crop to 50.0 million tonnes from 52.0 million tonnes it forecast in December.

Oil World said it has cut its forecast of Brazil's 2012 soybean crop to 71.0 million tonnes from the 72.8 million it forecast in December. This would be down on the 75.3 million tonnes Brazil harvested in 2011.

Dry weather has also hit crops in other South American countries, Oil World said. Paraguay's 2012 soybean crop will drop to 6.0 million tonnes from 8.37 million tonnes in 2011, it forecast.

Trader's highlight

DOW JONES - NEW YORK, Jan 17 (Reuters)- U.S. stocks advanced on Tuesday, pushing the S&P 500 to its highest since early August, but sharply pared gains late in the session as Citigroup's steep drop in profit gave investors a reason to unload bank shares.

The financial sector, which has outperformed the broader market so far this year, took a hit on investors' disappointment with Citigroup Inc's earnings.

The Dow Jones industrial average <.DJI> rose 60.01 points, or 0.48 percent, t 12,482.07 at the close. The Standard & Poor's 500 Index <.SPX> added 4.58 points, or 0.36 percent, to 1,293.67. The Nasdaq Composite Index <.IXIC> gained 17.41
points, or 0.64 percent, to 2,728.08.

NYMEX-NEW YORK, Jan 17 (Reuters) - U.S. crude oil futures gained for the first time in four sessions on Tuesday on better-than-expected New York State manufacturing data, upbeat German investment sentiment and prospects for pro-growth monetary policies in China.

Returning from a three-day holiday weekend, crude for February delivery settled on the New York Mercantile Exchange with a gain of more than 2 percent, the highest one-day risesince Jan. 3.

On the New York Mercantile Exchange, crude for February delivery settled at$100.71 a barrel, gaining $2.01, or 2.04 percent.

CBOT-SOYBEANS, Soybean futures on the Chicago Board of Trade ended, halting a four-day slide, as concerns about crop prospects in Argentina helped lift the market from last week's multiweek lows.

Argentine crops will suffer from hot weather and scant rains for the rest of this week, forecasters said, increasing worries that crop losses will eat into global supplies.

Hamburg-based newsletter Oil World cut its forecasts of the 2012 soybean crops in key exporters Argentina and Brazil by a combined 3.8 million tonnes.

Market buoyed by bullish data from the National Oilseed Processors Association which pegged the U.S. December soy crush at 145.420 million bushels, above a range of trade
estimates.

FCPO-SINGAPORE, Jan 17 (Reuters) - Malaysian crude palm oil futures bounced back on Tuesday, as concerns over dry weather that could potentially tighten soyoil supplies in Argentina and Brazil offset investor fears about the euro zone debt crisis.

Argentina's drought will worsen this week, say local meteorologists, dashing hopes that rain in the days ahead might be strong enough to revive parched corn and soy fields.

Benchmark April palm oil futures on the Bursa Malaysia Derivatives Exchange jumped 1.2 percent to close at 3,164 ringgit ($1013) per tonne. Prices dropped to 3,099 ringgit the previous day, a level last seen on Dec. 22. Traded volumes stood at 25,785 lots of 25 tonnes each, slightly higher than the usual 25,000 lots as some traders are evening out their positions before the Lunar New Year holidays next week.

REGIONAL EQUITIES-BANGKOK, Jan 17 (Reuters) - Southeast Asian stock markets rose on Tuesday as above-forecast GDP growth in China eased worries about the global economy, luring buyers to regional big caps and resource shares.

Consumer goods and financial stocks also outperformed as they are expected to benefit from resilient domestic demand in the region.

Gains in major world stock markets spurred late buying, with U.S. stock index futures pointing to a higher start on Tuesday and European shares hitting a five-month high.

Singapore shares <.FTSTI> rose to two-month highs, finishing up 2.2 percent. Thai stocks <.SETI> climbed 1.9 percent and the Philippines <.PSI> rose 1.4 percent, pushing it close to last week's record high.

Singapore-listed commodity trading firm Noble Group Ltd surged 5.9 percent and Thailand's biggest energy firm, PTT Pcl , rose 2.8 percent.

Trader's highlight

FCPO-SINGAPORE, Jan 16 (Reuters) - Malaysian crude palm oil futures fell to more than a three-week low on Monday as investor concerns over the euro zone debt crisis and higher-than-expected edible oil supplies weighed on the market.

Rating agency S&P on Friday cut nine of the euro zone's 17 countries, including top-notch France and Austria, and said it would decide shortly whether to downgrade the euro zone's bailout fund.

Benchmark April palm oil futures on the Bursa Malaysia Derivatives Exchange fell 0.7 percent to close at 3,126 ringgit ($996) per tonne. Prices earlier dropped to 3,099 ringgit, a level last seen on Dec. 22. Traded volumes stood at lots of 28,163 lots of 25 tonnes each, slightly higher than the usual 25,000 lots.

REGIONAL EQUITIES- BANGKOK, Jan 16 (Reuters) - Southeast Asian stock markets fell on Monday, led by commodities-related and banking shares, after euro zone sovereign rating cuts by Standard & Poor's rekindled concerns about the euro zone's debt crisis.

S&P downgraded nine of the euro zone's 17 countries, including top-notch France and Austria, and said it would decide shortly whether to downgrade the euro zone's bailout fund.

Southeast Asia saw light trading, with markets awaiting bond auctions by France and Spain later this week, seen as another big test of investor confidence in the euro zone.

Leading losers, Singapore's Straits Times Index <.FTSTI> dropped 1.26 percent, after Friday's 1.8 percent climb to five-week highs. Traders said retail and short-term traders might sell further during the week due to demand for cash ahead of the Chinese New Year holidays.

Stocks in Malaysia <.KLSE> fell 0.92 percent, Indonesia <.JKSE> eased 0.65 percent and Thailand <.SETI> lost 0.75 percent.

Among actively traded, Singapore's DBS Group Holdings Ltd dropped 2.9 percent after Friday's 4.2 percent surge to two-month highs. Coal miners fell, with Thai Banpu Pcl down 1.4 percent and Indonesia's PT Adaro Energy Tbk sliding 1.7 percent.

RTRS-NOPA December U.S. soy crush seen at 141.4 mln bu

CHICAGO, Jan 13 (Reuters) - The National Oilseed Processors Association's monthly crush data slated for release on Tuesday should show the U.S. crush for December 2011at 141.4 million bushels, analysts projected on Friday.

Trade estimates ranged from 139.0 million to 143.5 million bushels. NOPA reported the November 2011 crush at 141.277 million bushels and December 2010 at 145.537 million bushels.

The average analyst estimate for December U.S. soyoil stocks was 1.909 billion lbs,up from NOPA's November figure of 1.876 billion lbs. Forecasts ranged from 1.826 billion to 1.975 billion lbs.

RTRS-ARGENTINA 2011/12 CORN CROP SEEN AT 21.4 MLN T VS 26 MLN T MONTH AGO-ROSARIO GRAINS EXCHANGE

BUENOS AIRES, Jan 13 (Reuters) - Argentina's 2011/12 corn output is seen at 21.4 million tonnes, down sharply from the 26 million tonnes estimated last month due to dry weather, the Rosario grains exchange said on Friday.

The exchange raised its outlook for 2011/12 wheat to 13.7 million tonnes from 12.8 million tonnes previously, and held its 2011/12 soy forecast at 49.5 million tonnes.

Trader's Highlight

DOW JONES-NEW YORK, Jan 13 (Reuters) - U.S. stocks dropped on Friday, snapping a four-day winning streak, after news reports that Standard & Poor's would downgrade credit ratings on several euro-zone countries.

The ratings agency was reportedly set to downgrade euro-zone countries, including France and Austria, but leave the ratings of Germany and the Netherlands unchanged. French Finance Minister Francois Baroin said the country has been notified of a one-notch cut.

The Dow Jones industrial average <.DJI> dropped 48.96 points, or 0.39 percent, to 12,422.06 at the close. The Standard & Poor's 500 Index <.SPX> lost 6.41points, or 0.49 percent, to 1,289.09. The Nasdaq Composite Index <.IXIC> fell 14.03 points, or 0.51 percent, to 2,710.67.

NYMEX-NEW YORK, Jan 13 (Reuters) - U.S. crude futures fell for the third straight day on Friday on anticipation that Standard & Poor's would downgrade credit ratings of several euro zone countries, stoking fears deeper economic troubles for the region.

Losses were curbed by short-covering ahead of the long holiday weekend with traders worried over potential supply disruptions in Nigeria and Iran.

Late in the afternoon, S&P issued its announcement of the downgrades. In post-settlement trading, NYMEX crude futures had slim gains, but at the end of electronic trading, crude futures were back to negative territory.

On the New York Mercantile Exchange, February crude settled at $98.70 a barrel, dropping 40 cents, or 0.40 percent. In post-settlement trading, it last traded at $99.03, down 7 cents.

CBOT-SOYBEANS,Soybean futures on the Chicago Board of Trade fell for a fourth straight session, pressured by a stronger U.S. dollar and forecasts for more rain in South American crop areas, traders said.

Follow-through selling one day after the USDA released bearish data on U.S. soybean ending stocks also weighed on the
market.

CBOT soybeans ended down about 2.6 percent for the week, the second straight weekly decline.

FCPO-SINGAPORE, Jan 13 (Reuters) - Malaysian crude palm oil futures slipped on Friday as a much-anticipated U.S. crop report showed a higher-than-expected forecast of oilseed supplies, temporarily overshadowing prospects of lower production due to erratic weather.

The U.S. Department of Agriculture January crop report painted a rosier picture for global supplies on Thursday, while the Malaysian Palm Oil Board said this week that December stock levels were higher than expected.

Benchmark March palm oil futures on the Bursa Malaysia Derivatives Exchange fell 1.6 percent to close at 3,151 ringgit ($1,007) per tonne. Prices earlier touched an intraday low of 3,143 ringgit, a level last seen on Dec. 29. Traded volumes stood at 30,727 lots of 25 tonnes each,higher than the usual 25,000 lots for the first time in the week.

REGIONAL EQUITIES-BANGKOK, Jan 13 (Reuters) - Selective buying in commodities-related shares on the back of high oil prices helped lift some southeast Asian stock markets on Friday.

Positive comments on Europe's outlook, and stabilisation in European bond markets, also provided support as the region gained on the week, led by a 5.2 percent rise in Vietnam <.VNI>.

Strong demand at Spanish and Italian debt auctions helped tO offset lacklustre economic data from the United States, where retail sales rose in December at their weakest pace in seven months.

Singapore's Straits Times Index <.FTSTI> climbed 1.8 percent, Jakarta's Composite Index <.JKSE> edged up 0.7 percent and Vietnam's Ho Chi Minh Stock Exchange index rose 1.8 percent.

Stocks in Malaysia <.KLSE>, Thailand <.SETI> and the Philippines <.PSI> erased early gains to finish down 0.2 percent, 0.71 percent, and 0.74 percent respectively.

Singapore's Golden Agri Resources Ltd rose 2.78 percent after a combined 2.7 percent drop in the previous two sessions, and Indonesia's PT Bumi Resources Tbk rose 2 percent.

RTRS-INDIA'S DEC PALM OIL IMPORTS SEEN DOWN 23.1 PCT VS NOV, SOYOIL IMPORTS SEEN UP 254.7 PCT - AVERAGE OF REUTERS SURVEY

NEW DELHI, Jan 12 (Reuters) - India's palm oil imports are likely to decline in December over the previous month as domestic oilseeds crushing peaked, but the fall is expected to reverse next month as local supplies run out, a Reuters survey showed on Thursday.

The other reasons for the fall are a weak rupee that has made imports costlier and a tendency of palm oil to solidify at lower temperatures. It is winter in India now.

Higher imports by India, the world's top buyer of vegetable oils, in January could push the benchmark palm oil futures that inched up on Wednesday as prospects of lower edible oil output in South America and southeast Asia.

Trader's Highlight

DOW JONES-NEW YORK, Jan 12 (Reuters) - The S&P 500 closed at a five-month high for the third day on Thursday but had difficulty extending gains in the face of lackluster economic data and another European bond market test.

Energy shares curbed gains after Chevron Corp , the second-largest U.S. oil company, said fourth-quarter profit would be far below the previous quarter. Chevron slid 2.6 percent to $104.97, making it the biggest drag on the Dow, while the S&P energy index <.GSPE> fell 0.9 percent and was the biggest decliner among S&P sectors.

The Dow Jones industrial average <.DJI> gained 21.57 points, or 0.17 percent, to 12,471.02. The Standard & Poor's 500 Index <.SPX> added 3.02 points, or 0.23 percent, to 1,295.50. The Nasdaq Composite Index <.IXIC> rose 13.94 points, or 0.51 percent, to 2,724.70.

NYMEX-NEW YORK, Jan 12 (Reuters) - U.S. crude futures fell on Thursday in a late sell-off sparked by a report that a proposed European Union embargo on Iranian crude exports would be phased in over six months, reinforcing news already published by Reuters.

After trading higher for most of the day, both Brent and U.S. crude prices dropped soon after 2 p.m. EST (1900 GMT) after Bloomberg News reported the proposed embargo would be delayed, or phased in over a six month period, citing an EU official with knowledge of the matter.

On the New York Mercantile Exchange, February crude fell $1.77, or 1.75 percent, to settle at $99.10 a barrel, having traded as high as $102.98. It fell to a $98.50 low in post-settlement trading.

CBOT-SOYBEANS, Soybean futures on the Chicago Board of Trade fell for a third straight session on Thursday in active trade, after the U.S. Department of Agriculture raised its forecast of U.S. soy ending stocks above trade estimates, traders said.

USDA raised its forecast of U.S. 2011/12 soybean ending stocks -- the amount of soybeans that USDA forecasts will be left at the end of the 2011/12 marketing year on Aug. 31, 2012 -- to 275 million bushels, up from 230 million in December and above the average trade estimate of 233 million. USDA cut its estimate of 2011/12 U.S. soy crushings and exports.

FCPO-SINGAPORE, Jan 12 (Reuters) - Malaysian crude palm oil futures fell on Thursday, tracking an earlier decline in soy futures as rains in Argentina provided temporary relief to the drought-stressed crops while investors remained cautious ahead of a key U.S. report.

The U.S. Department of Agriculture will issue January world crop data which traders expect to show downgrades of South American crop forecasts.

Benchmark March palm oil futures on the Bursa Malaysia Derivatives Exchange eased 1 percent to close at 3,202 ringgit ($1,020) per tonne. Traded volumes stood at 17,886 lots of 25 tonnes each, thinner than the usual 25,000 lots.

REGIONAL EQUITIES-BANGKOK, Jan 12 (Reuters) - Southeast Asian stock markets were little changed on Thursday, with appetite for risk assets weak across Asia as investors waited for a Spanish debt sale that is seen as a key test of confidence amid nagging concerns about Europe's debt crisis.

The Philippines' main share index <.PSI> ended flat. It had climbed 1.9 percent on Wednesday, hitting an all-time high for a second session, but its 14-day relative strength index has moved above the "overbought" level to 79.2.

Stocks in Malaysia <.KLSE>, Thailand <.SETI> and Vietnam <.VNI> posted limited gains of 0.21 percent, 0.06 percent and 0.2 percent respectively. Indonesia <.JKSE> ended unchanged and Singapore <.FTSTI> eased 0.13 percent.

Banking shares advanced in Singapore as analysts expect the lenders to report strong loan growth in the final quarter of the year. DBS Group Holdings Ltd climbed 2.14 percent to a one-month high after a 3.2 percent gain in the previous two sessions.