Trader's Highlight

DJI-NEW YORK, April 27 (Reuters) - U.S. stocks advanced on Friday and posted their best weekly gains in a month as stronger-than-expected earnings from Amazon.com and Expedia Inc reinforced confidence in corporate performance.

Wall Street managed a fourth day of gains as the strongearnings season outweighed a surprisingly weak reading on first-quarter economic growth. [ID:nCATRFE83Z]

Online retailer Amazon climbed 15.7 percent to $226.85 and contributed half of Nasdaq's gain for the day. An S&P retail index <.RLX> rose 3.5 percent and hit an all-time high. Shares of Expedia, the Web-based travel provider, surged 23.5 percent to close at $40.31, after hitting a new high at $43 on record volume. [ID:nL2E8FQHZE] [ID:nL2E8FQFQF]

Growth in S&P 500 earnings rose to 7.2 percent this week from 3.2 percent at the start of the month, according to Thomson Reuters data. About 73 percent of the companies that have reported so far have beaten expectations.

"So far the numbers have been pretty good, and we're happy about that, but I think we have to wait to where we're done with the earnings season to really make judgments," said David James, senior vice president of James Investment Research in Alpha, Ohio.

"Going forward, the big key for people especially looking at tech is what happens with the dollar. I think the dollar will probably be stronger than people expect on a relative basis. Historically that usually means tech is the sector that gets hit the hardest."

The Dow Jones industrial average <.DJI> was up 23.69 points, or 0.18 percent, at 13,228.31. The Standard & Poor's 500 Index <.SPX> was up 3.38 points, or 0.24 percent, at 1,403.36. The Nasdaq Composite Index <.IXIC> was up 18.59 points, or 0.61 percent, at 3,069.20.

NYMEX- NEW YORK, April 27 (Reuters) - U.S. crude futures ended higher on Friday, up for the sixth session in a row, on hopes that weaker-than-expected growth data will spur the U.S. Fed to initiate more monetary-easing.

An initial estimate showed the first quarter U.S. gross domestic product expanded at a 2.2 percent annual rate, slowing from 3 percent in the fourth quarter. [ID:nCATRFE83Z]

That was below economists' expectations for a 2.5 percent pace, but stronger than the 1.5 percent or less they forecast at the beginning of the quarter.

Trading was light but perked up a bit about an hour before the close of floor trading as traders attempted to test resistance at $105, which was hit just minutes before the close. Prices then receded again.

Oil futures got support from Wall Street, which advanced for a fourth straight day, as stronger earnings from bellwether stocks overshadowed the weaker-than-expected GDP data.

CBOT SOYBEAN-April 27 (Reuters) - Chicago Board of Trade soybean futures closed higher on Friday on brisk export sales including large sales to China.

* Support also stemmed from firm cash, slow farmer selling, waning crop prospects in South America and expectations for no soy to be posted for delivery against the spot May contract. Monday is first notice day for delivery on the May contract.

* USDA on Friday said exporters had sold 110,000 tonnes of U.S. soybeans to China for 2012/13 delivery and 116,000 tonnes to unknown destinations also for 2012/13 delivery.

* Wetter weather is forecast for most of the U.S. Midwest for the next week to 10-days, which will slow seedings of the 2012 corn and soybean crops. "There is a transition to wet weather, it will definitely slow plantings but it also will add valuable soil moisture. Some areas in the northwest were getting dry," said Andy Karst, meteorologist for World Weather Inc.

* Freezing temperatures in the upper 20s degrees Fahrenheit were noted early on Friday in central Indiana, northwest Ohio and Michigan and another freeze is expected in the eastern Midwest on Sunday. "I don't think there will be any permanent damage. It will burn back vegetation and slow wheat development. After the weekend there should be warmer temperatures," Karst said.

* May is above all key moving averages and the nine-day RSI was at 76.

FCPO- SINGAPORE, April 27 (Reuters) - Malaysian palm oil futures ended slightly higher on Friday as tight soybean supplies from Argentina trumped concerns triggered by a Spanish debt downgrade, with traders awaiting export data on Monday for more clues on price movements.

Palm oil ended the week only 0.1 percent higher compared to a week ago, with investor sentiment caught in a tug of war between tight global oilseed supply due to bad weather in Argentina and concerns about euro zone debt.

"The market is a bit quiet today ahead of the weekend. There is no direction as traders are waiting for developments in the market, plus price movements in CBOT and Dalian soybean oil look insignificant," said a trader with a foreign commodities brokerage in Malaysia.

"The market looks to be rangebound between 3,480 and 3,520 ringgit."

Benchmark July palm oil futures on the Bursa Malaysia Derivatives Exchange inched up 0.1 percent to close at 3,505 ringgit ($1,151) per tonne.

Traded volumes were thin at 21,059 lots of 25 tonnes each, compared to the usual 25,000 lots.

Malaysian palm oil exports for the first 25 days of the month recovered compared to April 1-20, although the numbers were still lower than a month ago.

Traders attributed the improvement to stronger demand from major food buyers China and India as well as the biodiesel industry in Europe, with the focus now shifting to full-month export numbers due on Monday. [PALM/ITS][PALM/SGS]

One of Argentina's biggest grains exchanges cut another million tonnes off its 2011/12 soy crop forecasts on Thursday, citing poor yields, adding to bullishness supporting palm oil prices. [ID:nL2E8FQ95V]

But investor enthusiasm was tempered after Standard & Poor's lowered its credit rating on Spain by two notches to BBB-plus on Thursday, raising new fears about the lingering euro zone debt crisis.[ID:nL2E8FQLDM]

Palm oil will likely head towards 3,397 ringgit after testing support at 3,439 ringgit per tonne, said Reuters market analyst Wang Tao. [ID:nL3E8FQ29B]

REGIONAL EQUITY- BANGKOK, April 27 (Reuters) - Indonesian shares fell on Friday as investors sold banks on concerns about new bank ownership rules while other markets in the region reversed early gains to end lower amid euro zone debt concerns.

Indonesia's benchmark stock index <.JKSE> ended down 0.39 percent, led by a 1.67 percent drop in the Jakarta Finance Index <.JKFINA>.

Shares in Bank Danamon Indonesia Tbk tumbled 6.4 percent after Indonesia's central bank said it would issue new bank ownership rules next month and then review plans by

Singapore's DBS Group to acquire Indonesia's sixth-largest lender.

The Philippine index <.PSI> fell nearly 1 percent, erasing Thursday's 0.7 percent gain to an all-time high.

Trader's Highlight

DJI- NEW YORK, April 26 (Reuters) - U.S. stocks rose for a third day on Thursday after upbeat housing data and stronger-than-expected results from companies, including Citrix Systems Inc , overshadowed some high-profile earnings misses.

An index of pending home sales rose to nearly a two-year high in March, sending the Philadelphia Stock Exchange index of housing-related shares <.HGX> up 3 percent. Shares of homebuilder Lennar climbed 5.7 percent to $27.38.

During the regular session, the positive news on the housing front helped the market overcome data showing a stumbling labor market recovery. Initial claims for jobless benefits fell slightly in the latest week, but missed forecasts. [ID:nL2E8FQ37P]

"You can get cautious right here, but do not get bearish. There are too many good things happening," said Jeffrey Saut, chief investment strategist of Raymond James Financial in St. Petersburg, Florida.

The Dow Jones industrial average <.DJI> rose 113.90 points, or 0.87 percent, to close at 13,204.62. The Standard & Poor's 500 Index <.SPX> advanced 9.29 points, or 0.67 percent, to 1,399.98. The Nasdaq Composite Index <.IXIC> gained 20.98 points, or 0.69 percent, to 3,050.61.

Wednesday's rally helped to purge a lot of April's losses brought on by investors' worries over prospects for a seasonally weak market in May as well as signs that Europe's debt crisis was getting worse.

 

NYMEX- NEW YORK, April 26 (Reuters) - U.S. crude futures rose on Thursday as upbeat March pending home sales added to optimism about the outlook for energy demand.

The pending home sales report offset disappointing U.S. jobless claims data and helped counter the bearish effect of a crude inventory rise in the United States reported by the Energy Information Administration on Wednesday. [EIA/S]

* On the New York Mercantile Exchange, June crude rose 43 cents, or 0.41 percent, to settle at $104.55 a barrel, having traded from $103.84 to $104.92. That intraday peak was near the 50-day moving average of $105.06.

* Five North Sea Forties crude oil cargoes loading in May have been delayed after a production halt at Nexen's Buzzard oilfield, a trading source said on Thursday. The source said that Buzzard, which shut down over the weekend, was ramping up on Thursday after being restarted on Wednesday. [ID:nL9E8CA00X]

* Seaborne oil exports from OPEC, excluding Angola and Ecuador, will fall by 20,000 barrels per day in the four weeks to May 12, UK consultancy Oil Movements said. [ID:nL6E8FQDD8]

* A Russian diplomat said on Wednesday that Iran and Western nations had shown interest in a Russian proposal aimed to help defuse the standoff over Tehran's nuclear program, but suggested it had not been the focus of talks earlier this month. [ID:nL6E8FQ4BM]

* South Korea will make sharp cuts in imports of Iranian crude from June as tightening Western sanctions make it impossible to secure insurance coverage for tankers, industry and company sources said. [ID:nL3E8FQ5HU]

* The Chicago Board Options Exchange's Oil Volatility Index <.OVX> fell to its lowest level in nearly five years intraday on Thursday, dropping below 25. [ID:nL2E8FQ4BO]

* Oil will be supported by Iranian tensions even as top producers pump at near full capacity, though the second quarter looks set for traditional seasonal price weakening, a Reuters poll showed. [O/POLL]

CBOT SOYBEAN- Chicago Board of Trade soybean futures closed higher in the old-crop months on big export sales to China and waning crop prospects in South America.

Spot May gained nearly 20 cents per bushel premium on new-crop November on bull-spreading as traders bought old-crop contracts such as May SK2 and sold new-crop months such as November SX2.

USDA's weekly export sales report showed that net export sales of U.S. soybeans during the week ended last Thursday totaled 1,409,300 tonnes, above a range of estimates for 900,000 to 1,250,000 tonnes. [nEAP10AQ04] The USDA export sales highlights showed that old-crop sales to China totaled 603,800 tonnes and new-crop sales to China totaled 185,700 tonnes. [nIGB26E228]

Occasional bouts of rainfall in the Midwest over the next two weeks will slow the corn and soybean seeding pace but no major problems are expected, according to Commodity Weather Group. CWG also said frosty weather expected in the northern and eastern Midwest over the weekend would cause only minor damage to crops.

The Taiwan Sugar Corp. Has rejected all offers and made no purchase in a tender to buy 23,000 tonnes of U.S. origin corn and 12,000 tonnes of U.S. origin soybeans which closed on Thursday, European traders said. [nL6E8FQ3Q2]

Malaysian palm oil futures slipped on Thursday as global economic uncertainty and expectations of improving production weighed on the market, although recovering exports and a smaller soybean crop in Argentina limited losses. [nL3E8FQ32H] May was above all key moving averages and the nine-day RSI was at 73.

FCPO-SINGAPORE, April 26 (Reuters) - Malaysian palm oil futures slipped on Thursday as global economic uncertainty and expectations of improving production weighed on the market, although recovering exports and a smaller soybean crop in Argentina limited losses.

Despite the Federal Reserve's assurance that its very easy monetary policy will be kept in place for as long as needed, investors remained sceptical, worrying that the lingering euro zone debt crisis could slow growth and dampen demand.

"The underlying fundamentals still look quite good. Market is down as traders expect production should pick up in the month ahead. Another thing is economic concerns may be eating into demand," said James Ratnam, an analyst with TA Securities in Malaysia.

Benchmark July palm oil futures on the Bursa Malaysia Derivatives Exchange fell 0.3 percent to close at 3,500 ringgit ($1,146) per tonne.

Traded volumes stood at 29,661 lots of 25 tonnes each, higher than the usual 25,000 lots.

Malaysian palm oil exports for the first 25 days of the month dropped a slight 2 and 3 percent, according to cargo surveyors Societe Generale de Surveillance and Intertek Testing Services respectively. [PALM/ITS][PALM/SGS]

Despite the fall, market players see the numbers as an improvement compared to the 5 percent decline seen in the first 20 days of the month. Traders said that demand from major food buyers China and India has been picking up, contributing to stronger buying interest in the edible oil.

Shipments to Europe were also higher compared to a month ago as demand from the biodiesel industry returned after winter.

Hamburg-based oilseeds analyst Oil World this week cut its forecast for Argentina's 2012 soy output to 42.5 million tonnes, reinforcing views of a tight global oilseed supply. [ID:nL5E8FN7X0]

Reuters market analyst Wang Tao had a bearish view, saying palm oil will clear a support at 3,439 ringgit per tonne and fall further to 3,395 ringgit. [ID:nL3E8FQ29B]

REGIONAL EQUITY- BANGKOK, April 26 (Reuters) - Southeast Asian stock markets ended mostly higher on Thursday, with Philippine shares climbing to fresh all-time highs and Thai stocks hitting their highest in more than three weeks on optimism fuelled by the U.S. Federal

Reserve's commitment to support growth. Fund flows appeared favourable, with the Philippines <.PSI> posting $16.5 million worth of foreign buying, Thomson Reuters data showed. Malaysian bourse said foreign investors bought shares for 138.70 million ringgit ($45.35 million).

Trader's Highlight

DJI- NEW YORK, April 25 (Reuters) - U.S. stocks rallied on Wednesday, with Apple's surge giving the Nasdaq its biggest gain of the year, while the Fed chairman reassured markets that the central bank would do more if necessary to lift the economy.

Apple Inc fueled optimism that the current earnings season would be much stronger than expected, generating gains across all market sectors. The iPad and iPhone maker's results, released after Tuesday's closing bell, showed that its quarterly

profits nearly doubled, while its revenue easily topped expectations. The rally in Apple's stock especially benefited the S&P 500 tech sector index <.GSPT>, which jumped 3.2 percent. Federal Reserve Chairman Ben Bernanke spurred further gains when he said the U.S. central bank "would not hesitate" to launch another round of bond purchases to drive borrowing costs lower if it looked like the economy needed it. [ID:nL2E8FOJAC]

The Dow Jones industrial average <.DJI> shot up 89.16 points, or 0.69 percent, to 13,090.72 at the close. The Standard & Poor's 500 Index <.SPX> rose 18.72 points, or 1.36 percent, to 1,390.69. The Nasdaq Composite Index <.IXIC> jumped 68.03 points, or 2.30 percent, to 3,029.63, and scored its best daily percentage gain since Dec. 20.

During the regular session, Bernanke's comments came as a welcome surprise to some stock investors.

"People looked at the FOMC statement and saw no mention of QE3, but in his press conference, Bernanke made it quite clear that additional asset purchases remain completely on the table. That may have been a revelation to some of the earlier sellers," said William O'Donnell, managing director and head of U.S. Treasury strategy at RBS Securities in Stamford, Connecticut.

NYMEX- NEW YORK, April 25 (Reuters) - U.S. crude futures rose on Wednesday after a tug-of-war session, receiving a late lift from Wall Street's rally, the Federal Reserve reiterating its low interest rate policy, and falling refined products stocks that offset rising crude inventories.

Oil futures received pressure intraday from Energy Information Administration data showing U.S. crude stocks rose 3.98 million barrels last week, more than expected and counter to an industry report on Tuesday that showing an inventory drop.[EIA/S] [API/S]

* On the New York Mercantile Exchange, June crude rose 57 cents, or 0.55 percent, to settle at $104.12 a barrel, having traded from $103.11 to $104.57.

* Four cargoes of North Sea Forties crude loading in May have been delayed after production problems at Britain's largest oilfield, trade sources said. Nexen said its 200,000-barrel per day Buzzard field, shut down after a problem with a gas compressor on its newest platform over the weekend was restarting after repairs. [ID:nL6E8FP2ON]

* Russia will continue its abundant Urals crude exports in May, a preliminary export schedule showed. [ID:nL6E8FP2HX]

* Production at Iraq's West Qurna Phase-2 oilfield was expected to hit 500,000 bpd in 2014, Iraq's oil minister said as drilling of the first oil well began. [ID:nL6E8FP39J]

* Goldman Sachs maintained its near-term neutral recommendation on the commodities complex as a whole on renewed euro zone debt concerns and a modest slowing in U.S. growth, despite signs of China beginning to pick up after a policy induced slowdown late last year. [ID:nL3E8FP3KA]

* Demand U.S. durable manufactured goods tumbled by the most in three years in March and businesses cut back on spending plans. [ID:nL2E8FP2GL]

CBOT SOYBEAN- Soybean futures on the Chicago Board of Trade closed higher on concerns about the size of South America's soy harvest and positioning ahead of a three-day U.S. holiday weekend, traders said.

* U.S. grain markets will be closed on Friday for the Good Friday holiday.

* Strong weekly U.S. export sales added support. USDA reported export sales of U.S. soybeans in the latest week at 1,112,900 tonnes (old and new crop years combined), above a range of trade estimates for 600,000 to 850,000 tonnes. [ID:nEAP10A504]

* Front-month soybeans reached $14.34-1/4, matching Tuesday's seven-month high on the continuous chart. Soybeans unofficially ended the week up 2.08 percent, the second straight weekly rise.

* Nearby soybean contracts gained against back months as traders appeared to unwind long November/short May and long November/short July spreads.

* The USDA's attache in Brazil projected the country's 2011/12 soybean harvest at 66 million tonnes, down from USDA's last forecast of 68.5 million. Attache reports are not official data but can signal what USDA might do in its next official monthly report, due out next week. [ID:nL2E8F49YR]

* Analysts surveyed by Reuters expect USDA in its April 10 supply/demand reports to lower its forecast of U.S. 2011/12 soybean ending stocks, as well as its estimates of the 2011/12 soy harvests in Brazil and Argentina. [ID:nL2E8F4A2E]

* Tugboats in Argentina's main grains export route dislodged a boat carrying soymeal that ran aground three days ago, delaying at least 85 ships, a shipping industry group said. [ID:nL2E8F54ST]

FCPO- SINGAPORE, April 25 (Reuters) - Malaysian palm oil futures ended higher on Wednesday, as buying interest poured in after the midday break on bullish factors including recovering exports and tight soybean supply.

Another sign of improving demand is the smaller fall of three percent in Malaysian palm oil exports for the first 25 days of the month, versus a decline of 5 percent for the period April 1-20. [PALM/ITS]

Tight soybean supply in drought-hit South America remains a key bullish factor for palm oil. On Tuesday, Hamburg-based oilseeds analyst Oil World has again cut its forecast for Argentina's 2012 soybean crop, this time by 1.5 million tonnes. [ID:nL5E8FN7X0]

"The market ends higher on its failure to crack support levels and there is a lack of producers selling," a trader with a domestic commodities brokerage in Malaysia said. "There is also anticipation of stronger soybean and beanoil prices in the CBOT on the Argentine weather and Chinese demand."

Benchmark July palm oil futures on the Bursa Malaysia Derivatives Exchange closed up 1.4 percent at 3,511 ringgit ($1,148) per tonne.

Traded volumes stood at 22,353 lots of 25 tonnes each, slightly lower than the usual 25,000 lots.

Traders attributed the improvement in Malaysian palm oil exports to higher demand from major buyers such as India and China. Another cargo surveyor, Societe Generale de Surveillance, reported a similar 2 percent decline in palm oil exports for April 1-25 from a month ago. [PALM/SGS]

Despite the slight recovery in exports, some traders said shipments for April were still likely to be lower than a month ago.

"April 1-25 exports are still down by 3 percent, so in the next five days how much more can be shipped (to reverse the trend)? Really not much," said a trader at a commodities house in Singapore.

REGIONAL EQUITY-BANGKOK, April 25 (Reuters) - Most Southeast Asian stock markets posted modest gains on Wednesday as investors selectively bought beaten-down blue chips late in the session but markets remained cautious ahead of results from a U.S. Federal Reserve policy meeting.

The Philippine index <.PSI> edged up 0.7 percent, climbing at one point to an intraday record high of 5,226.54.

Thailand's benchmark SET index <.SETI> ended up 0.13 percent, with gains limited by thin trading volume. It hit a three-week high of 1,204.73 in early trade.

RTRS- U.S. farmers made good planting- USDA

CHICAGO, April 23 (Reuters) - U.S. farmers east of the Mississippi River made good planting progress, while growers in western areas of the Corn Belt were slowed by rainy weather, a U.S. Agriculture Department report showed on Monday.

The USDA's weekly crop progress and conditions report showed that U.S. corn seeding was 28 percent completed as of April 22, up from 17 percent a week ago and ahead of the five-year average of 15 percent, but down from analysts expectations.

The planting pace was the third fastest ever for this time of year but the wet fields have pushed farmers behind the record pace they established in early April.

Soybean planting was a record 6 percent finished, up from 2 percent a year ago, ahead of the five-year average of 2 percent. That pace beat analysts' expectations.

USDA released a soybean planting estimate as early as the third week in April just once before, in 2007. The department calculated year-ago figures and the five-year average from data it collected but had not released before Monday.

Analysts expected corn planting at 31 percent, based on the average of 17 crop watchers surveyed in a Reuters poll, and had pegged soybean planting at 4 percent complete.

RTRS- Brazil soy crop sales, harvest - Celeres

SAO PAULO, April 23 (Reuters) - Sales of Brazil's 2011/12 soybean crop rose to 75 percent of the total expected production of 67.9 million tonnes, up from 72 percent a week earlier, analysts Celeres said on Monday.

Harvest is days from ending across the main soy belt, where rain has been less than optimal this year and will keep the world's No. 2 soybean producer at least 7 million tonnes shy of last year's record harvest of 75 million tonnes.

Celeres said harvest has reached 93 percent of the crop area by April 20, up from 88 percent in the week prior. Last year at this time, 91 percent of the crop had been collected. The No. 1 soybean state Mato Grosso, No. 2 soy state Parana and No. 4 soy state Goias are finished with harvest.

Brazil is the world's second biggest soybean producer after the United States and is expected to surpass it to become the largest exporter of the oilseed this year for the first time since 2005/06.

Trader's Highlight

DJI- NEW YORK, April 23 (Reuters) - U.S. stocks fell on Monday as political turmoil in Europe cast doubts on the euro zone's ability to push through measures to end its debt crisis and as Wal-Mart sank following a report it stymied a bribery probe.

The Dutch prime minister tendered his government's resignation on Monday after Dutch officials failed to agree on budget cuts. Adding to the uncertainty was a Sunday vote in France that threw the presidential race wide open. [ID:nL5E8FN1WN] [ID:nL5E8FM30Q]

The renewed worries came as the euro zone's business slump deepened at a far faster pace than expected in April. [ID:nL3E8FN7JT] The Markit PMI fell to a five-month low, confounding forecasts for a rise. Europe's debt crisis has been a major headwind for U.S. equities as investors worried it could hurt corporate profits. Bank shares were hit by the concern, including Morgan Stanley , which fell 2.9 percent to $16.98. The KBW bank index <.BKX> fell 0.6 percent.

"It's becoming clear the euro zone is in a recession, and that brings a lot of concerns. To really get out of the debt problem, you need growth, and we haven't gotten to that step yet,"sai d Hank Smith, chief investment officer at Haverford Trust Co. in Philadelphia.

Wal-Mart Stores Inc slumped 4.7 percent to $59.54 and was the biggest drag on the Dow after the New York Times reported Wal-Mart officials stymied an internal investigation into bribery allegations at its Mexican unit, Walmart de Mexico . Those shares dropped 12 percent to 37.82 pesos.

The sell-off was broad with almost 3 stocks on the New York Stock Exchange falling for each one that rose, and the economically sensitive S&P materials sector <.GSPM> was among the worst performing areas, down 1.4 percent.

The Dow Jones industrial average <.DJI> was down 102.09 points, or 0.78 percent, at 12,927.17. The Standard & Poor's 500 Index <.SPX> was down 11.59 points, or 0.84 percent, at 1,366.94. The Nasdaq Composite Index <.IXIC> was down 30.00 points, or 1.00 percent, at 2,970.45.

NYMEX- NEW YORK, April 23 (Reuters) - U.S. crude futures fell on Monday on pressure from revived concerns about the euro zone economy and political uncertainty, while a North Sea production problem and worries about Iran and potential supply disruptions helped limit losses.

Politics added uncertainty after the Socialist challenger edged out French President Nicolas Sarkozy, leaving the two to fight a May 6 election run-off, while the Dutch government was set to resign in a crisis over budget cuts. [ID:nL5E8FN040] [ID:nL5E8FM3ER]

Crude futures' losses, especially for Brent crude, were limited by news that production stopped at the North Sea Buzzard oil field, Britain's largest, following a problem with a gas compressor over the weekend.

Output is expected to "ramp up" over the next 24-48 hours according to a spokeswoman for operator Nexen . [ID:nL5E8FN8R0]

Oil markets continued to be buffeted by competing concerns about slowing economic growth and potential for supply disruptions following the sharp price rise in the first quarter as U.S. and European tightened sanctions on Iran aimed at curbing its nuclear program by limiting oil exports and revenues.

* On the New York Mercantile Exchange, June crude fell 77 cents, or 0.74 percent, to settle at $103.11 a barrel, having traded from $101.82 to $103.98.

* China's March crude oil imports from Iran fell 54.1 percent from a year earlier to 253,302 barrels per day, customs data showed, due to pricing disputes over term contracts, with Beijing boosting shipments from elsewhere to fill the gap. [ID:nL3E8FN5SJ]

* Sunoco Inc announced exclusive talks with private equity firm Carlyle Group LP on a potential joint venture to run the biggest refinery on the U.S. East Coast, saying it would delay a planned closure of the Philadelphia plant by a month. [ID:nL2E8FN1M7]

* Greece's ruling partners, the only two major parties that back the EU/IMF bailout plan, could gather just enough votes to form a coalition government, the last polls to be published before the election on May 6 showed. [ID:nL6E8FKHDF]

* Leading world economies on Friday pledged $430 billion in new funding for the International Monetary Fund, more than doubling its lending power in a bid to protect the global economy from the euro-zone debt crisis. [ID:nL2E8FK0TS]

SOYBEAN CBOT- Chicago Board of Trade soybean futures fell on profit-taking and long liquidation after a 2 percent rally on Friday.

* Spillover weakness from U.S. crude oil futures added pressure.

* Robust export demand for U.S. soybeans and concerns about the size of South America's soy harvest continue to underpin the market. USDA confirmed sales of 165,000 tonnes of U.S. soybeans to an unknown destination for 2011/12 delivery.

* However, USDA reported export inspections of U.S. soybeans in the latest week at 12.005 million bushels, well below trade expectations for 21 million to 24 million bushels.

* Large speculators boosted their net long position in CBOT soybeans to a record 209,907 contracts as of last Tuesday, CFTC data showed, leaving the market vulnerable to long liquidation. [ID:nL2E8FKBQ0]

* A Reuters poll of 10 analysts indicated the USDA on Monday would show U.S. 2012 soybean planting at a record 4 percent complete. USDA has only released its estimate of soybean planting for the third week in April once before, in 2007. [nL2E8FN4FE]

* Dry weather this week in the Midwest should allow rapid corn and soybean planting followed by rainfall by the weekend and a potential cold snap.

* Analysts at Celeres said Brazil's soybean harvest reached 93 percent of the crop area as of April 20, up from 88 percent a week earlier. Sales rose to 75 percent of the total expected

production, from 72 percent the prior week. [ID:nL2E8FN73P]

* Trade expects Statistics Canada to project record-large canola seedings in its planting intentions report on Tuesday. The average estimate for Canadian canola seedings among analysts surveyed by Reuters was 20.6 million acres. [ID:nL2E8FDASE]

FCPO- KUALA LUMPUR, April 23 (Reuters) - Malaysian palm oil fell on Monday after a slew of European indicators signaled a faster rate of economic contraction and limited hopes for a strong recovery in growth.

Losses, however, were limited by expectations that big food consumers will lift demand for the tropical oil in the wake of higher soyoil prices after droughts crimped South America's soy crop.

The palm oil market has gained more than 9 percent this year on strong food demand, lower stocks in No.2 producer Malaysia and weaker global edible oil production after a drought hurt South American soy crops.

"The purchasing managers' indexes for the euro zone were rather dismal and that triggered a knee-jerk reaction in financial markets. Palm oil was not spared because some dealers wanted to book some profits," said a trader with a foreign commodities brokerage.

Benchmark July palm oil futures on the Bursa Malaysia Derivatives Exchange dropped 0.7 percent to close at 3,475 ringgit ($1,133) per tonne.

Traded volumes stood at 26,086 lots of 25 tonnes each, a tad higher than the usual 25,000 lots.

Although weaker Purchasing Manager Indexes for Germany, France and the euro zone has dampened hopes for a strong global economic recovery, some traders were focusing on tighter edible oil supplies that may be inadequate to sate food demand.

Argentina cut its official estimate for this year's soy crop last Thursday, and many traders expect the U.S. Agriculture

Department to slash its own estimates in its supply-and-demand report due early next month.

Argentina's Agriculture Ministry has pegged the soy crop at 42.9 million tonnes, compared to the latest USDA estimate of 45 million tonnes. A reduced soy crop for crushing into soyoil will tip demand over to palm oil. [ID:nL2E8FJBMW]

As a result, Malaysian palm oil exports for April 1-20 fell 5.3 percent from a month earlier, a marked improvement from a 13.5 percent drop in the first 15 days of this month due in part to stronger demand from India.

REGIONAL EQUITY- April 23 (Reuters) - Most Southeast Asian markets extended losses on Monday for a third day running on renewed worries over the euro zone debt crisis and further signs of weakness in European economies.

Singapore <.FTSTI> fell 1.1 percent to a near two-week low in thin trade and Thailand <.SETI> eased 0.4 percent from a two-week high, led by energy shares.

Indonesia <.JKSE> ended down 0.6 percent at a one-week low in heavy volume, with $7.2 million of foreign outflows, after credit rating agency Standard and Poor's said it was not prepared to upgrade the country's sovereign rating to investment grade status, as had been widely expected.

S&P maintained its positive outlook on the rating, but said it was concerned by signs of "policy slippages". [ID:nL3E8FN279]

Despite $28.6 million of foreign inflows, Malaysia <.KLSE> fell 0.5 percent to its lowest since March 26, while Vietnam <.VNI> edged down 0.1 percent in light volume.

Bucking the trend, the Philippines <.PSI> inched up 0.1 percent in improved volume compared to the market's 30-day average volume.

Regional markets reacted positively to a survey that showed China's factory activity was stabilising, but were hit by late selling as European markets and U.S. stock futures fell.

RTRS- Brazil gov't says not halting, slowing soy exports

BRASILIA, April 20 (Reuters) - Brazil's government has no plans to either halt or slow exports of soy, its single most valuable agricultural export, the agriculture ministry said on Friday after such rumors sent Chicago soy futures to a 7-1/2 month high.

The grains market was abuzz with talk that this year's smaller soy harvest in Brazil, which was shrunk by a long spell of drought, had prompted the world's No. 2 soy producer to impose an export ban or restriction.

"Absolutely not. The government didn't take any decision which would restrict soy exports," Benedito rosa, director of commercial affairs at the Agriculture Ministry said.

The head of the National Association of Grains exporters, Anec, Sergio Mendes, told Reuters it was an unfounded rumor and that Brazil continued seeking to maximize its shipments of the oilseed.

Trader's Highlight

DJI- NEW YORK, April 20 (Reuters) - U.S. stocks mostly rose on Friday, led by solid earnings from McDonald's, General Electric and Microsoft, but declines in banks and technology shares pulled indexes from their day's highs.

The Nasdaq Composite fell as SanDisk Corp led a drop in semiconductor shares with an 11.3 percent slide after its second revenue warning in as many quarters.

Apple Inc's more than 2.4 percent fall also weighed, as shares continue to struggle ahead of earnings next week. Apple shares posted back-to-back weekly declines of more than 4 percent for the first time since late December 2008.

As earnings season moves into high gear, the first wave of corporate results has been substantially stronger than expected. About 81 percent of S&P 500 companies that have reported so far have beat expectations, according to Thomson Reuters data.

The impressive rate of beats comes amid lowered expectations, but the earnings have helped stocks regain their footing after a recent pullback on less-than-inspiring U.S. economic figures and renewed worry about Europe's debt crisis.

Analysts said the weakness heading into Friday's close was in part because of caution ahead of an early indicator of China's industrial activity, expected late Sunday.

The Dow Jones industrial average <.DJI> rose 65.16 points, or 0.50 percent, to 13,029.26. The S&P 500 Index <.SPX> gained 1.61 points, or 0.12 percent, to 1,378.53. The Nasdaq Composite <.IXIC> dropped 7.11 points, or 0.24 percent, to 3,000.45.

For the week, the Dow gained 1.4 percent, the S&P 500 added 0.6 percent and the Nasdaq fell 0.4 percent, down for a third week running.

NYMEX-NEW YORK, April 20 (Reuters) - U.S. crude futures rose for the first time in three days on Friday, lifted by better-than-expected data on German business sentiment that helped ease worries about the euro zone debt crisis and improve the outlook for oil demand.

Front-month May crude futures expired and their successor, June , gained more than 1 percent, heading towards $104. Volumes were light.

* On the New York Mercantile Exchange, crude for May delivery expired and settled at $103.05 a barrel, gaining 78 cents, or 0.76 percent. For the week, it edged up 22 cents, or 0.21 percent, after a loss of 48 cents, at $102.83, in the week to April 13.

* NYMEX June crude closed at $103.88, up $1.16, or 1.13 percent, trading between $102.86 and $104.68.

* German business sentiment unexpectedly rose for the sixth consecutive month in April, data from the Ifo think tank showed. Ifo's business climate index, based on a poll of 7,000 companies, inched up to 109.9 from March's 109.8 and marked the highest level since July 2011. [ID:nL6E8FK2L6]

* Iran is exporting 2.1 million barrels per day of crude oil, compared to an average of 2.3 million bpd in the last Iranian year ended March 19, Platts quoted Iranian oil officials as saying. [ID:nL6E8FK51W]

* European Union member governments could review in the next two months an embargo on Iranian oil imports due to take effect in July, a senior EU official said. [ID:nB5E8EK02J]

 

CBOT SOYBEAN- Soybean futures at the Chicago Board of Trade soared more than 2 percent and set a 7-1/2-month high as worries that South America's soy harvest was shrinking sparked technical buying, traders said.

The market surged to its highest spot price since Aug. 31, 2011, in the closing seconds of trade. Nearby contracts led deferreds on ideas that crop losses in South America would steer near-term export demand to the United States. Talk of poor yields in the ongoing

Argentine soybean harvest raised concerns that USDA in its next monthly report would again lower its Argentine soy crop forecast from its current 45 million tonnes. The Argentine government on Thursday cut its soybean production estimate to 42.9 million tonnes, from 44 million previously. Rumors of fresh sales of U.S. soybeans to China added support. The late-day surge helped CBOT soybeans to finish the week about 1 percent higher, the market's fourth straight weekly rise. CBOT May options expired at the close on Friday.

FCPO- SINGAPORE, April 20 (Reuters) - Malaysian palm oil futures reversed earlier losses to end higher on Friday on last minute buying, although traders remained wary over the weak global economy and slowing export data.

Buying surged in the last half hour of trading and sometraders said this was due to the weak performance this week that prompted investors to close out their short positions to book profits.

Despite closing higher on Friday, palm oil still recorded a slight 0.3 percent weekly loss as investors were held back by disappointing jobless U.S. data, while worries about the euro zone persisted despite a better-than-expected Spanish bond auction. [ID:nL2E8FJ25I]

"The buying came in the last half an hour (of trading), we saw an obvious trend that market will close higher, and all of us were a bit apprehensive of selling," said a trader with a foreign commodities brokerage in Malaysia.

Tight soybean supply in drought-hit South America remained a bullish factor for palm oil. On Thursday, Argentina's government cut its soy production estimates to more than 10 percent below last year's harvest levels. [ID:nL2E8FJBMW]

On the demand side, cargo surveyor Intertek Testing Services said exports for April 1-20 fell 5.6 percent to 844,453 tonnes, in which exports for by-products such as refined palm stearin and palm fatty acid distillate were observably lower than a month ago. [PALM/ITS]

Another cargo surveyor Societe Generale de Surveillance reported a similar 5.3 percent fall in exports for the same period from a month ago. [PALM/SGS]

REGIONAL EQUITY- April 20 (Reuters) - Most Southeast Asian markets fell on Friday after disappointing U.S. data stirred doubts about the strength of its economic recovery, and on renewed concerns over the euro zone debt crisis.

Singapore <.FTSTI> ended 0.5 percent lower, falling from a two-week high in thin trade, while Malaysia <.KLSE> fell 0.3 percent to a three-week low despite $14.19 million of inflows.

The Philippines <.PSI> and Vietnam fell 0.3 percent each.

Bucking the trend, Thailand <.SETI> gained 0.8 percent to its highest since April 4, led by information and technology shares.

Indonesia <.JKSE> rose 0.4 percent to its highest since April 3, with $16.7 million of inflows. Trade was heavy, with top lender Bank Mandiri gaining 1.4 percent.

Trader's Highlight

DJI- NEW YORK, April 19 (Reuters) - Global stocks fell and government debt prices rose on Thursday after a Spanish debt auction failed to allay fears that Spain could be the next European country in need of a bailout and as U.S. economic data cast doubt on the strength of the recovery.

The number of Americans claiming unemployment benefits for the first time fell less than expected last week, suggesting a slowdown in job creation. Other data showed factory activity in the Mid-Atlantic region slowed sharply this month and U.S. home resales fell for a second month in March. [ID:nL2E8FJ25I]

Analysts said part of the data's weakness was payback after an abnormally warm U.S. winter. But few doubted the economy was losing some steam, leaving the door open for further monetary stimulus from the Federal Reserve, a bullish sign for bonds.

"The prospects for easing are on the table and are always going to be on the table," said Sean Incremona, economist at 4CAST LTD in New York. "Euro zone worries, U.S. economy worries - it doesn't look like it's going to be a risk-on day."

Closely watched auctions of French and Spanish debt aided safe-haven assets like Treasuries and German bunds.

Equities in both New York and Europe fell on the economic data. Investors in Europe have increasingly been looking to the United States, as well as emerging markets, to drive European corporate profits while the euro zone economy languishes.

Demand for safe-haven government debt could ease if a meeting this weekend of the International Monetary Fund supports the idea of buffering the so-called peripheral European economies, said John Hendricks, a portfolio manager at Hartford Investment Management in Hartford, Connecticut.

IMF chief Christine Lagarde said on Thursday she expects to win a big boost in funding to help the lender safeguard countries from the euro zone debt crisis. [ID:nL2E8FJ3I3]

"Clearly, the bond market is very focused on headlines out of Europe right now," Hendricks said.

"We're in a very volatile rate environment and we bounce from one headline to the next."

The Dow Jones industrial average <.DJI> ended down 68.65 points, or 0.53 percent, at 12,964.10. The Standard & Poor's 500 Index <.SPX> lost 8.22 points, or 0.59 percent, at 1,376.92. The Nasdaq Composite Index <.IXIC> fell 23.89 points, or 0.79 percent, at 3,007.56.

NYMEX - NEW YORK, April 19 (Reuters) - U.S. crude futures fell a second day on Thursday in tug-of-war trading as weak economic data and slumping gasoline futures helped pressure crude prices.

Front-month Brent crude for June delivery managed a 3-cent gain, as the weak U.S. data helped pull Brent prices back from an early peak, reached when strong investor demand for Spanish debt eased worries about the euro-zone economy.

U.S. initial jobless claims fell only slightly last week, from a revised higher number the previous week, indicating that April job growth may not show much improvement after March's disappointing performance. [ID:nL2E8FJ25I]

* On the New York Mercantile Exchange, May crude fell 40 cents, or 0.39 percent, to settle at $102.27 a barrel, having traded from $101.67 to $103.21. The intraday low was below the 100-day moving average of $101.92. The May contract expires on Friday.

* Saudi Arabia is offering extra crude supplies to some of its existing customers, industry sources said, probably because it has more available while its own refineries are undergoing
maintenance. [ID:nL6E8FJA8L]

* A slowly improving U.S. jobs market and reasonably solid growth at the start of the year have brightened the economic outlook for 2012, reducing chances the Federal Reserve will
conduct another round of bond purchases, a Reuters poll found. [ID:nL3E8FH8X0]

* Mismanagement and theft by top Nigerian officials involved in a corrupt fuel subsidy scheme cost the country $6.8 billion in three years, a parliamentary probe found, calling on President Goodluck Jonathan to overhaul the state oil firm and ministry. [ID:nL6E8FJCSL]

* Weekly stockpiles of fuel oil in Europe's main oil trading hub of Amsterdam-Rotterdam-Antwerp fell by 24 percent over the past week, according to data from independent oil analyst
Patrick Kulsen. Stockpiles of gasoline and gasoil fell while naphtha and jet rose. [ID:nL6E8FJE2N]

CBOT SOYBEAN- Soybean futures on the Chicago Board of Trade ended higher on stronger-than-expected weekly export sales, plus news of fresh U.S. sales to China in the last day, traders said.

However, the market pared gains and briefly turned lower within the last 30 minutes of the session as traders liquidated long outright positions and long soybean/short corn spreads. Open
interest in CBOT soybean futures set a record high this week above 800,000 contracts and funds hold a record-large net long position, leaving the market vulnerable to long liquidation.

Soy market remains underpinned by outlooks for tightening global soy supplies following drought in South America. Argentina's government cut its production estimate for the country's 2011/12 soybean production to 42.9 million tonnes, from 44 million previously, the Agriculture Ministry said in a monthly crop report. USDA confirmed sales within the last day of 110,000
tonnes of U.S. soybeans to China for delivery in 2011/12. USDA reported export sales of U.S. soybeans in the latest week at 1.219 million tonnes (old and new-crop years combined), above a
range of trade expectations for 850,000 to 1.1 million. Sales to China included 127,200 tonnes for 2011/12 and 615,000 for 2012/13. USDA showed export sales of U.S. soymeal in the latest
week at 302,200 tonnes and soyoil sales at 23,900 tonnes, both above trade expectations.

A consortium of Israeli private buyers bought about 22,000 tonnes of U.S. corn products and 20,000 tonnes of U.S. soymeal in a tender - European traders.

FCPO- SINGAPORE, April 19 (Reuters) - Malaysian palm oil futures closed slightly lower on Thursday, recouping most of their losses after Spain sold as many bonds as it wanted, which helped calm fears about the euro zone economy but concerns about slowing demand kept prices lower.

Benchmark July palm oil futures on the Bursa Malaysia Derivatives Exchange lost 0.1 percent to close at 3,477 ringgit ($1,136) per tonne after falling during the session to 3,439 ringgit, its lowest level since March 30.

Traded volumes stood at 34,170 lots of 25 tonnes each, higher than the usual 25,000 lots.

Market players are now keeping a close watch on export data for April 1-20 due to be released on Friday for more signs about the demand trend.[PALM/ITS][PALM/SGS]

Palm oil touched a 13-month high at 3,628 ringgit last week, and traders said it was now going through a price correction as most of the bullish factors, including 7-month low palm oil stocks, have been priced in.

"I think the sentiment now has changed a bit. When the market hit above 3,600 ringgit, everybody was asking for a healthy correction. So now the immediate target is at about 3,400 ringgit," said a trader with a foreign commodities brokerage in Malaysia.

Thursday's bond auctions by Spain and France are key to investor confidence in Europe's ability to tackle growing economic and fiscal problems. Spain managed to sell the 2.5 billion euros ($3.3 billion) of bonds it wanted to, but at higher yields. [ID:nL6E8FJ120]

Tight soybean supply in drought-hit South America remained a bullish factor for palm oil and traders said that any signs that the supply situation is worsening could be supportive for palm
oil futures.

A bearish target of 3,402 ringgit per tonne remains unchanged for palm oil, however, provided it does not suddenly jump to 3,520 ringgit, said Reuters market analyst Wang Tao. [ID:nL3E8FJ0XD]

In related news, a Malaysian farmers' investment cooperative voted in favour of a controversial $2 billion listing of a state-linked palm oil firm, a government minister said on Thursday. [ID:nL3E8FJ600]

REGIONAL EQUITY- April 19 (Reuters) - Thai stocks surged to a two-week high on Thursday led by banking shares but most other stock markets in the region ended flat or lower amid renewed concern over the debt crisis in the euro zone.

Foreign inflow of $43.35 million also helped boost sentiment on the Thai bourse with the <.SETI> jumping 1.5 percent to its highest since April 4. Both Siam Commercial Bank PCL and Kasikornbank PCL were among the big gainers.

But stocks in Indonesia, Philippines, Malaysia and Vietnam fell. The Philippines <.PSI>, which hit a record high on Wednesday, edged down 0.3 percent on profit taking, while Indonesia <.JKSE> finished 0.1 percent weaker with a foreign outflow of $12.3 million.

Malaysia <.KLSE> edged down 0.1 percent, but foreign investors bought a net 205.32 million Malaysian ringgit ($66.99 million) worth shares from Kuala Lumpur. Vietnam <.VNI>, the region's smallest market fell 1.1 percent.

But Singapore <.FTSTI> ended 0.3 percent higher to highest level since April 3.

Trader's Highlight

DJI- NEW YORK, April 18 (Reuters) - Stocks fell on Wednesday, with Wall Street retreating from its biggest gain in a month as investors turned to safe-havens on worries that Spain might
light a new fire under the euro zone debt crisis.

Risk appetite faded as concerns about the financial health of Spain - Europe's fourth-largest economy - pushed up demand for U.S. Treasuries and government bonds of the euro zone's most stable nation, Germany.

The Dow Jones industrial average <.DJI> ended down 82.79 points, or 0.63 percent, at 13,032.75. The Standard & Poor's 500 Index <.SPX> was down 5.64 points, or 0.41 percent, at 1,385.14. The Nasdaq Composite Index <.IXIC> was down 11.37 points, or 0.37 percent, at 3,031.45.

U.S. Treasuries rose as the prospect of a longer-term Spanish debt auction made safe-haven U.S. Treasuries a popular investment choice. The benchmark 10-year U.S. Treasury note was up 5/32, with the yield at 1.977 percent. [US/]

The euro fell against the dollar after a brief rebound that hinted at some risk play in currencies. But the biggest surprise in forex was sterling's rise to 19-month highs on signs that there may be less pressure for monetary easing in Britain. [FRX/]

NYMEX- NEW YORK, April 18 (Reuters) - U.S. crude futures fell on Wednesday after a government report showed oil inventories rose more than expected last week to post the biggest four-week increase in over three years.

The rise in crude inventories outweighed larger-than-expected drawdowns in gasoline and distillate stockpiles.

U.S. crude stocks rose 3.86 million barrels in the week to April 13, the U.S. Energy Information Administration (EIA) said, much more than the forecast in a Reuters poll for a gain of 1.4 million barrels. [EIA/S]

* On the New York Mercantile Exchange, May crude fell $1.53, or 1.47 percent, to settle at $102.67 a barrel, having traded from $102.19 to $104.51. The intraday low neared the 100-day moving average of $101.86.

* Taiwan's state-owned oil firm CPC Corp is reducing imports from Iran and will follow the schedule of U.S. sanctions in deciding when to cut them completely, its chairman said, joining
other Asian buyers in scaling back dealings with Tehran. [ID:nL6E8FI8S1]

* Japan will cut its Iranian crude purchases by almost 80 percent in April compared to the first two months of the year as buyers comply with Western sanctions, trade sources said. The cuts, amounting to 250,000 barrels per day, are the steepest yet by the four Asian nations that buy most of Iran's 2.2 million bpd of exports. [ID:nL3E8FI49W]

* U.S. regulators have narrowed the universe of big commodity market players that will get slapped with an expensive "swap dealer" tag, but left room to later adjust rules that are being finalized on Wednesday. [ID:nL2E8FI44Y]

* Libya's National Oil Corporation said it has kept the May official selling price on its key export crude Es Sider unchanged from April. Prices for Mellitah, Brega and Sirteca were lowered by 10-15 cents a barrel while only the price of Bu Attifel was raised by 10 cents a barrel.[ID:nL6E8FIB21]

* China is expected to launch crude oil futures within the year, a senior government official said, as the world's second-largest oil consumer and crude buyer aims to increase its say in oil pricing. [ID:nL3E8FI2SZ]

CBOT SOYBEAN- Chicago Board of Trade soybean futures closed lower on Wednesday on profit-taking near the market's 7-1/2-month high and on a firm dollar.

* Soymeal and soyoil closed lower.

* Pressure also stemmed from lower crude oil, weak equities and falling precious metals.

* USDA on Wednesday said 120,000 tonnes of U.S. soybeans were sold to China for the 2012/13 marketing year. [ID:nW1E8E8025]

* Moderate rainfall of 0.50 inch to 1.00 inch Wednesday through Saturday in the Midwest will slow corn seedings but plantings are already well ahead of average. "It will slow down plantings, not a perfect forecast but certainly not a disaster,"said John Dee, meteorologist for Global Weather Monitoring.

* Dee said rains would begin in the north on Wednesday, spread to the western Midwest by Thursday and move into the eastern Midwest on Friday and Saturday.

FCPO- SINGAPORE, April 18 (Reuters) - Malaysian palm oil futures slipped on Wednesday as investors feared that the euro zone debt crisis could hurt demand for the edible oil, although losses were curbed as a successful Spanish debt sale helped ease some worries.

Global markets including crude oil futures rebounded after Spain's debt auction turned out better than expected, although palm oil investors were not too optimistic especially as Malaysian exports slowed down for the first time after a strong run since early March.[ID:nL6E8FH400]

"Traders would have expected it because for the past few weeks we have seen that the export numbers have been quite impressive and we don't expect exports to continue on that trend. There are macroeconomic fears that weigh on exports," said Ker Chung Yang, commodities analyst at Phillip Futures in Singapore.

"It's not something that's going to surprise us but a bearish export number is going to weigh on the market."

Benchmark July palm oil futures on the Bursa Malaysia Derivatives Exchange lost 0.7 percent to close at 3,479 ringgit ($1,136) per tonne.

Traded volumes stood at 25,759 lots of 25 tonnes each, fewer than the usual 25,000 lots.

Palm oil is expected to fall to 3,402 ringgit per tonne as it could have completed a consolidation, said Reuters market analyst Wang Tao. [ID:nL3E8FI1NL]

But tight palm oil stocks in No.2 producer Malaysia remained a bullish factor as it reinforced views that the shortfall in global oilseed supply could worsen amid the drought situation in soy-producing South America. [ID:nK7E7ND021]

Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance will issue export data for April 1-20 on Friday, which market watchers expect to remain bearish after a 15 percent fall seen in the first half of April from a month ago. [PALM/ITS][PALM/SGS]

REGIONAL EQUITY- April 18 (Reuters) - Most Southeast Asian stock markets rose on Wednesday, with the Philippines at a record high, on improved demand for the region's riskier assets after a well-received Spanish debt auction and positive U.S. corporate earnings.

The Philippines <.PSI> rose 0.6 percent to a record high of 5,219.29 in strong volume, surpassing Tuesday's peak of 5,186.52 and with banks leading gainers.

Financials also helped the Malaysian bourse <.KLSE> add 0.2 percent, with $29.79 million in foreign inflows, while energy counters helped the Thai exchange <.SETI> reverse the previous
session's loss to end 0.7 percent firmer.

Despite $15.2 million in foreign outflows, Indonesia <.JKSE> gained 0.2 percent to the highest since April 5. Singapore's benchmark Straits Times Index <.FTSTI> added 0.5 percent to a more than two-week high, with Singapore Exchange Ltd up 1.5 percent after reporting better-than-expected earnings.

RTRS- Oil World cuts Argentine, Brazil soy crop estimate

HAMBURG, April 17 (Reuters) - Hamburg-based oilseeds analyst Oil World said on Tuesday it had cut its forecast of Argentina's 2012 soybean crop by 1.0 million tonnes and that of Brazil by 0.5 million tonnes after drought damaged harvests.

Oil World now forecasts Argentina's 2012 soybean crop at 44.0 million tonnes, down from 49.2 million in 2011. Brazil's crop is forecast at 65.0 million tonnes from 75.3 million tonnes in 2011.

The latest forecasts were further reduced from Oil World's Apr. 10 crop estimates which had also been cut by a combined 2.5 million tonnes for the two countries as the lingering impact of dry weather becomes clearer.

The estimates compare to the U.S. Department of Agriculture's forecast on Apr. 10 of a 45.0 million tonnes soybean crop for Argentina and 66.0 million tonnes for Brazil. [ID:nUIDAFE86Q] Local observers in Argentina and Brazil have also cut soybean crop estimates. [ID:nL2E8FCEEC] [ID:nL2E8FA29Q]

The poor South American crops mean global 2011/12 season soybean production will fall 26.6 million tonnes on the year to 239 million tonnes, Oil World estimates.

"The magnitude of this decline is unprecedented," Oil World said. "This is going to reduce world soybean stocks more sharply than expected by end-August 2012."

"The tightness is going to spill over to at least the first of the world crop season 2012/13, when a sharp decline in South American exports will raise the dependence on U.S. supplies."

World Apr./Sept. 2012 soybean crushings are likely to be smaller than anticipated which will keep prices of soymeal and soyoil well supported, Oil World said.

RTRS- Fire closes USDA, delays Crop Progress report

WASHINGTON, April 16 (Reuters) - An overnight fire forced the closure of the U.S. Agriculture Department complex on the National Mall and disrupted the flow of data to commodity markets, including a closely watched report on U.S. crop development, officials said on Monday.

The weekly crop progress report, ordinarily released on Monday afternoon, was rescheduled because of the blaze, which fire fighters put out. The report will now be released Tuesday at 4 p.m. EDT (2000 GMT).

The closure also delayed reports such as the weekly tally of grain inspected for export, a gauge of demand for U.S. crops.

No data was lost due to the fire, USDA spokesman Justin DeJong said. USDA employees were given administrative leave on Monday, but are expected to return on Tuesday.

"We do anticipate that the facilities will be open for business tomorrow," DeJong said.

Because of the fire, power was shut off to the South Building, the third-largest federal building, and internal USDA computer networks were shut down. Spokesmen said the shutdown disrupted work on the crop progress report, which usually receives reports from the field on Monday for compilation into a nationwide report with state-by-state data.

Agriculture Secretary Tom Vilsack told reporters at an unrelated conference in Washington, D.C., he has now relocated to the Forest Service building a block away from the USDA administration building.

Trader's Highlight

DJI- NEW YORK, April 17 (Reuters) - U.S. stocks scored their biggest gains in a month on Tuesday after Coca-Cola led a round of strong earnings and as concerns about Europe's debt crisis eased as Spanish bond yields fell.

Apple Inc shares ended a five-day losing streak with a rally of 5.1 percent, helping the Nasdaq Composite close above 3,000. The stock closed at $609.70 and booked its best day
in almost three months after it dropped 8.8 percent in the previous five sessions.

IBM, Intel and Yahoo all beat earnings estimates in their reports after the closing bell. [ID:nL2E8FHGE1]

Earlier in the day, Coca-Cola , Goldman Sachs and Johnson & Johnson all reported profits that beat analysts' estimates, in what has been a surprisingly strong start to earnings season.

German analyst and investor confidence rose unexpectedly in April to a high not seen since June 2010 while better-than-expected results from Spanish debt sales boosted confidence before a long-term debt auction later in the week. [ID:nL6E8FH3JI] [ID:nL6E8FH4DC]

ING's Zemsky said it was hard for any market to dismiss the significantly stronger-than-expected German survey.

The benchmark Spanish 10-year note's yield slipped below 6 percent, but worries about Madrid's finances and the banking sector are likely to keep the pressure on in coming days.

The Dow Jones industrial average <.DJI> rose 194.13 points, or 1.50 percent, to close at 13,115.54. The S&P 500 Index <.SPX> gained 21.21 points, or 1.55 percent, to 1,390.78. The Nasdaq Composite <.IXIC> climbed 54.42 points, or 1.82 percent, to 3,042.82.

NYMEX- NEW YORK, April 17 (Reuters) - U.S. crude futures rose for a second straight day on Tuesday, as prospects of an earlier-than-expected reversal of the Seaway pipeline to help ease the glut of oil in the Midwest continued to fuel buying.

A well-received Spanish debt auction, upbeat German economic sentiment and higher global economic growth forecast by the IMF were also supportive for crude.

Traders were awaiting further direction from the weekly petroleum inventory report from the American Petroleum Institute scheduled at 4:30 p.m. EDT (2030 GMT). The U.S. Energy
Information Administration will follow with its report on Wednesday, at 10:30 a.m. EDT.

Ahead of the reports, a Reuters poll forecast that domestic crude stocks rose 1.4 million barrels in the week to April 13. Distillate stocks fell 200,000 barrels and gasoline stocks declined 900,000 barrels, the poll also showed. [IEA/S]

In other news, U.S. President Barack Obama proposed new measures that would raise civil and criminal penalties for individuals and companies involved in oil market manipulation.

Obama also proposed that Congress give the Commodity Futures Trading Commission authority to require traders to increase their margins, or collateral, when trading in oil futures.[ID:nL2E8FH1EQ]

In response, exchange operator CME Group said Obama's plan on margins was "misplaced," and warmed that the move risked raising prices.

* On the New York Mercantile Exchange, crude for May delivery , which expires on Friday, settled at $104.20 a barrel, gaining $1.27, or 1.23 percent, the highest since April 2, after trading between $102.66 and $105.07.

* NYMEX June crude settled at $106.64, also up $1.27, or 1.23 percent, while ICE Brent June crude settled up 10 cents, or 0.08 percent, at $118.78. That further narrowed Brent's premium against U.S. crude, to $14.14, from $15.31 on Monday .

CBOT- Soybean futures on the Chicago Board of Trade ended, bouncing back from Monday's 1 percent slide on talk of export demand for U.S. soybeans, especially from top buyer China,
traders said.

* The market ended off day's highs, with some traders liquidating longs after May soybeans failed to match the session high from Monday.

* USDA confirmed sales of 225,000 tonnes of U.S. soybeans to unknown destinations, including 110,000 tonnes for delivery in 2011/12 and 115,000 tonnes for 2012/13. [ID:nW1E8E8021]

* Oilseeds analyst Oil World cut its forecast of Argentina's 2012 soybean crop to 44 million tonnes, down 1 million, and that of Brazil to 65.0 million tonnes, down 0.5 million, due to drought. [ID:nL6E8FG9RH]

* The Kaohsiung division of Taiwan's Breakfast Soybean Procurement Association bought 60,000 tonnes of soybeans to be sourced from Brazil - trade. [ID:nL6E8FH29M]

* A consortium of Israeli private buyers issued a tender to buy up to 22,000 tonnes of U.S. corn products and 20,000 tonnes of U.S. soymeal - trade. [ID:nL6E8FH888]

* USDA was expected to release its weekly crop progress report on Tuesday afternoon, one day later than normal, due to a fire that temporarily shut USDA offices in Washington.[ID:nL2E8FG9Y6]

FCPO- SINGAPORE, April 17 (Reuters) - Malaysian palm oil futures inched up on Tuesday on tightening global oilseed supply, although gains were limited as weaker exports and soaring
Spanish borrowing costs weighed on sentiment.

Malaysian palm oil stocks dropped below the 2-million-tonne mark for the first time this year, reinforcing views of a tight global supply amid a lower soy crop in drought-hit South America.

But concerns of a slowing commodity demand also surfaced with Spain's surging borrowing costs stoking investor nervousness over euro zone debt woes and weaker global economic growth. [ID:nL6E8FG9K3]

"Negative macroeconomic factors coupled with weaker export numbers may force traders to take profits. But fundamentally supply for crude palm oil and other vegetable oil is still very
tight, so that should be supportive throughout the second quarter," said Alan Lim, research analyst with Kenanga Investment Bank in Malaysia.

At closing, benchmark July palm oil futures on the Bursa Malaysia Derivatives Exchange gained a 0.5 percent at 3,503 ringgit ($1,143) per tonne.

Traded volumes stood at 32,201 lots of 25 tonnes each, higher than the usual 25,000 lots.

According to technical charts, a bearish target of 3,401 ringgit per tonne will only be confirmed if palm oil drops below 3,454 ringgit, Reuters market analyst Wang Tao said. [ID:nL3E8FH13N]

Malaysia's palm oil stocks for March fell to a seven-month low at 1.96 million tonnes, beating market estimates, forcing traders to ramp up crude palm oil purchases in fear of a potential shortfall. [ I D:nK7E7ND021]

Malaysian palm oil exports fell by close to 15 percent for the first half of April from a month ago, according to cargo surveyor data. Exports for refined products suffered declines as orders shifted to top producer Indonesia, which enjoyed a favourable tax structure. [PALM/ITS] [PALM/SGS]

REGIONAL EQUITY- BANGKOK, April 17 (Reuters) - Thai stocks fell nearly 1 percent on Tuesday and shares in Singapore and Malaysia edged lower as renewed worries about debt problems in Europe curbed investors' appetite for riskier assets.

The Thai stock market saw net foreign outflows of around 800 million baht ($26 million) in the morning session, according to broker Phillip Securities strategist Teerada Charnyingyong.

The market posted combined foreign outflows of $160 million in past two sessions to April 12 before a four-day weekend.

"The Thai market still has a fairly high concerns about Europe's debt problems, in line with the region. Investors are uncertain of what to do and risk appetite is slowing down," said Teerada of Phillip Securities.

Thailand had seen strong inflows this year, with $2.6 billion of net foreign purchases this year to April 12, according to Thomson Reuters data.

Indonesia <.JKSE> had $1.2 billion worth of foreign inflows for the same period, with Vietnam's the Ho Chi Minh Stock Exchange index <.VNI> reporting $23.57 of inflows for the
period, data showed.

Thailand's benchmark index <.SETI> closed 0.8 percent lower, with Singapore <.FTSTI> down 0.2 percent and Malaysia <.KLSE> slipping 0.1 percent.

The Philippines <.PSI> and Indonesia bucked the trend, rising 0.8 percent and 0.3 percent, resptively. Vietnam's main index rose 1 percent.

RTRS- US soybean crush 140,534 mln bu in March--NOPA

WASHINGTON, April 16 (Reuters) - The National Oilseed Processors Association (NOPA) issued the following monthly soybean crushings and processing data:

CRUSHINGS (1,000 bu) Mar 12 Feb 12 Mar 11
Illinois 18,031 18,207 17,157
Ind, Ky, Ohio, Mich 32,133 30,494 30,229
Southeast 17,672 18,075 17,712
Southwest 26,882 26,244 24,347
Iowa 31,415 29,676 30,060
Minn, N/SDak., Mont 14,402 13,653 14,885
Total U.S. 140,534 136,350 134,391

SOYBEAN MEAL Mar 12 Feb 12 Mar 11
Exports (short tons) 681,533 658,542 518,861
Production (mln tons) 3.37 3.27 3.28
Yield/Bu (lbs) 47.94 47.95 48.04

SOYBEAN OIL Mar 12 Feb 12 Mar 11
Production (mln lbs) 1,623.0 1,568.7 1,565.1
Yield/Bu (lbs) 11.55 11.51 11.65

SOYBEAN OIL STOCKS (1,000 lbs):
Mar 12 Feb 12 Mar 11

Illinois 475,922 437,615 561,879

Ind, Ky, Ohio, Mich 434,196 371,147 611,351
Southeast 117,669 125,906 138,310
Southwest 465,721 445,762 588,963
Iowa 785,686 776,028 851,104

Minn, N/SDak., Mont 84,009 85,800 308,185
Total U.S. stocks 2,363,202 2,242,258 3,059,793

RTRS- Brazil soy crop sales, harvest - Celeres

SAO PAULO, April 16 (Reuters) - Sales of Brazil's 2011/12 soybean crop rose to 72 percent of the total expected production of 67.9 million tonnes, up from 70 percent a week earlier, local grain analysts Celeres said on Monday.

Harvest is in the final few weeks across the soy belt, where rain has been less than optimal this year. Dry weather has slashed about 10 million tonnes off expected output from the world's No. 2 soybean producer.

Celeres said harvest has reached 88 percent of the crop area by April 13, up from 82 percent in the week prior. Last year at this time, 85 percent of the crop had been collected. Harvest has essentially finished in the No. 1 soybean state Mato Grosso, No. 2 soy state Parana, No. 4 soy state Goias and No. 5 Mato Grosso do Sul.

No. 3 soy state Rio Grande do Sul is the only major producer to still be harvesting. The southernmost state has harvested 56 percent of its crop by the week ending April 13, Celeres said in a weekly bulletin on the soy crop. The south has been worst hit by this season's drought.

Rio Grande do Sul is due to get heavy rain later this week that will be too late to help parched crops but could slow harvesting. As the wet weather pushes across the rest of the grain belt it will help the development of the second, or winter, corn planting which expanded to record area this year.

The second crop is planted directly following the harvest of the summer soy and corn crops.

Brazil is the world's second biggest soybean producer after the United States and is expected to surpass it to become the largest exporter of the oilseed this year for the first time
since 2005/06.

RTRS- Fire shutters USDA, disrupts data flow to markets

WASHINGTON, April 16 (Reuters) - An overnight fire forced the closure of the Agriculture Department complex on the National Mall and disrupted the flow of data to commodity markets, including a closely watched report on U.S. crop development, officials said on Monday.

The weekly crop progress report, ordinarily released on Monday afternoon, was tentatively rescheduled for Tuesday. A final decision on the time was expected later on Monday.

Also delayed by the closure were reports such as the weekly tally of grain inspected for export, a gauge of demand for U.S. crops.

Because of the fire, power was shut off to the South Building, the third-largest federal building, and internal USDA computer networks were shut down. Spokesmen said the shutdown disrupted work on the crop progress report, which usually receives reports from the field on Monday for compilation into a nationwide report with state-by-state data.

Trader's Highlight

DJI- NEW YORK, April 16 (Reuters) - Global stocks faltered on Monday despite stronger-than-expected U.S. retail sales, while government debt prices rose as worries about Spain's fiscal problems and a resurgent euro zone crisis weighed on investor sentiment.

The dollar retreated against the euro and gold prices fell after Spain acknowledged it has probably tipped into its second recession since 2009. [ID:nL6E8FG9K3]

Spanish 10-year government bond yields broke through the 6 percent mark for the first time since December, sparking a record-breaking rally in low-risk German debt. Spanish yields were expected to continue rising toward 7 percent - a level beyond which debt costs are widely viewed as unsustainable - unless the European Central Bank resumes its bond purchases after a two-month break.

Concern is growing that the recession will make it impossible to meet deficit targets and that Spain will have to seek some form of international bailout even as the Spanish government says it is committed to making major budget cuts.

The Dow Jones industrial average <.DJI> closed up 71.82 points, or 0.56 percent, at 12,921.41. The Standard & Poor's 500 Index <.SPX> fell 0.69 points, or 0.05 percent, at 1,369.57. The Nasdaq Composite Index <.IXIC> slid 22.93 points, or 0.76 percent, at 2,988.40.

NYMEX- NEW YORK, April 16 (Reuters) - U.S. crude futures ended slightly higher on Monday as news of an earlier target date for the reversal of the Seaway oil pipeline prompted heavy transatlantic spread trading.

Pipeline owners Enterprise Product Partners and Enbridge plan to advance the reversal of the flow of the pipeline by mid-May, pending regulatory approval, about two weeks ahead of schedule. [ID:nL2E8FG4IQ]

The reversal would help ease the glut in U.S. crude stockpiles in the Midwest as the pipeline will bring Canadian oil and North Dakota crude directly to the U.S. Gulf Coast. [ID:nL2E8FG4IQ]

U.S. crude futures fell in early trade as the resumption of talks in Istanbul between Iran and six world powers during the weekend over Tehran's disputed nuclear program elicited positive
reaction from oil investors.

Negotiators from Iran and the world powers agreed to meet again on May 23 in Baghdad. However, the United States remained on guard and President Barack Obama said more sanctions would be imposed against the Islamic Republic if there was no breakthrough in the talks in the coming months. [ID:nl2E8FF21R]

* On the New York Mercantile Exchange, crude for May delivery , which expires on Friday, settled at $102.93 a barrel, up 10 cents, or 0.10 percent, after trading between
$101.80 and $103.37.

* U.S. June crude settled at $103.37, up 5 cents, while ICE Brent June crude settled down $2.53, or 2.09 percent, at $118.86, narrowing the Brent premium against U.S. crude to $15.31. The June/June premium ended at $17.89 on Friday.

CBOT- Soybean futures on the Chicago Board of Trade fell 1 percent, the most in four weeks, on technical selling and long liquidation following last week's 7-1/2 month high, traders
said.

* Spillover pressure from CBOT corn and wheat futures, which fell as favorable U.S. crop weather boosted crop prospects.

* Additional pressure from investors exiting long soy/short corn spreads.

* Large speculators hold a record-large net long position in CBOT soybeans, CFTC data showed on Friday, leaving the market vulnerable to bouts of long liquidation. [ID:nL2E8FDGCV]

* Funds also hold a hefty net long in soymeal and soyoil.

* The National Oilseed Processors Association (NOPA) reported the U.S. soybean crush for March at 140.534 million bushels, up from 136.35 million in February but below an average of trade estimates for 143.8 million.

* NOPA reported U.S. end-March soyoil stocks at 2.363 billion lbs, up from 2.242 billion in February and above the average trade estimate of 2.338 billion.

* Analysts at Celeres reported Brazil's soy harvest at 88 percent complete as of April 13, up from 82 pct a week earlier; sales rose to 72 pct of expected production, up from 70 pct the previous week. [ID:nL2E8FG96T]

* USDA said an overnight fire delayed its weekly export inspections and crop progress reports. The crop progress report, ordinarily released on Monday afternoon, was rescheduled for
Tuesday. [ID:nL2E8FG8RE]

FCPO- SINGAPORE, April 16 (Reuters) - Malaysian palm oil futures inched down on Monday as a drop in export numbers for the first half of the month led some traders to book profits, although losses were curbed by tightening edible oil supply.

Palm oil hit a 13-month high at 3,628 ringgit per tonne last week after Malaysian stocks fell below the 2-million-tonne mark for the first time this year, fanning fears of tighter global supplies, given the drought hitting the South American soy crop.

But the futures market ended that week with a loss of 2.6 percent, as some traders said the market was overbought.

Malaysian palm oil exports fell by a steep 14.8 percent for the first half of April from a month earlier, cargo surveyor Intertek Testing Services said, although analysts said that might not necessarily be a sign of weaker demand. [PALM/ITS]

"You can't just look at what happens in 15 days and say that demand is weak. There may be other reasons, such as timing in shipping. We need to get the overall (export data) for the month
(to gauge demand)," said James Ratnam, an analyst at TA Securities in Malaysia.

"It seems more like technical selling. Exports for the first 15 days down 15 percent, it could be a good excuse to sell. It doesn't really translate into weak demand. Demand might not be as strong as last month but 15 percent is a bit too steep."

At closing, benchmark July palm oil futures on the Bursa Malaysia Derivatives Exchange inched down 0.3 percent at 3,487 ringgit ($1,138) per tonne.

Traded volumes stood at 28,067 lots of 25 tonnes each, slightly higher than the usual 25,000 lots.

On the technicals front, Reuters market analyst Wang Tao maintained a bearish view, saying palm oil would slide further to 3,401 ringgit per tonne. [ID:nL3E8FG1IH]

On the supply side, Malaysia's palm oil stocks for March fell to a seven-month low at 1.96 million tonnes, beating market estimates and prompting some traders to lock in more crude palm oil purchases.

Another cargo surveyor Societe Generale de Surveillance reported a 13.5 percent drop in exports for April 1-15, echoing earlier data issued by ITS. Exports for refined products suffered declines as the Indonesia tax advantage drew orders away from No.2 producer Malaysia.[PALM/SGS]

REGIONAL EQUITY- April 16 (Reuters) - The Philippines stock market rose to a four-week high and Singapore hit a two-week high on Monday, but most other Southeast Asian stock markets closed weaker after a surge in Spanish bond yields renewed concerns about Europe's
debt crisis and undermined investor appetite for riskier assets.

Singapore <.FTSTI> ended 0.1 percent up at its highest since April 3, with oil rig builder Keppel Corp Ltd gaining 1.2 percent on a record $4.1 billion Brazil oil-rig order.

The Manila stock market <.PSI> rose 0.4 percent to its highest since March 19.

Indonesia <.JKSE> fell 0.3 percent with net foreign selling of $34 million, while Malaysia <.KLSE> closed 0.4 percent weaker.

Vietnam <.VNI> closed 1.2 percent firmer. Thailand's stock market <.SETI> was closed for the Songkran holiday.
((shihar.aneez@thomsonreuters.com; +94-11-232-5540; Reuters