RTRS-UPDATE 1-Allendale survey pegs 2012 U.S. corn acres 95.012 mln

March 16 (Reuters) - Allendale Inc. on Friday said a survey of farmers in 26 states conducted between Feb. 27 and March 9 indicated U.S. 2012 corn acreage at 95.012 million, the biggest corn area since 1944 and above last year's corn
plantings of 91.9 million.

The Allendale corn plantings number was below an estimate released by Informa Economics earlier this month of 95.513 million, above the U.S. Department of Agriculture's (USDA)forecast at its outlook forum of 94.0 million and well above
last year's U.S. corn plantings of 91.9 million.

USDA on March 30 will release its annual planting intentions report and its updated quarterly stocks report.

Allendale's forecast soybean area at 74.495 million was below Informa's recent forecast of 75.128 million and below the 75.0 million forecast by USDA at its outlook conference. It was also down from last year's soy seedings of 75.0 million.

The total wheat area pegged by the Allendale survey at 56.609 million is below the USDA's outlook forum forecast of 58.0 million and above last year's U.S. plantings of 54.409 million acres.

Other spring wheat acreage of 12.623 million forecast by Allendale is above last year's U.S. spring wheat area of 12.394 million.

Allendale said the survey data would imply a record large corn production of 14.092 billion, soybean production at 3.233 billion, the third largest crop on record and wheat production was implied at 2.116 billion acres, above last year's wheat
output of 1.999 billion bushels.

Trader's Highlight

DJI- NEW YORK, March 16 (Reuters) - Global stocks advanced on Friday, with a broad measure of U.S. equities rising to an almost four-year high after news of subdued inflation added to investment sentiment and helped fuel a retreat in government debt markets.

While the benchmark Standard & Poor's 500 index rose for a fifth straight week, gaining 2.4 percent for its best weekly performance since mid-December, the Dow and Nasdaq fell on Friday in a sign of caution after the run-up in U.S. stocks.

A report on U.S. consumer prices in February eased a hawkish view on interest rates, causing the dollar to fall and helping spur the sell-off in bonds. Improving U.S. economic data had recently sparked speculation that the Federal Reserve would raise rates sooner than its time frame of late 2014.

The Dow Jones industrial average <.DJI> ended down 20.14 points, or 0.15 percent, at 13,232.62. The Standard & Poor's 500 Index <.SPX> added 1.57 points, or 0.11 percent, to 1,404.17. The Nasdaq Composite Index <.IXIC> was down 1.11 points, or 0.04 percent, at 3,055.26.

NYMEX- NEW YORK, March 16 (Reuters) - U.S. crude oil futures rose on Friday, as worries of supply disruption from Iran resurfaced and the dollar weakened, enticing investors to raise their bets on the commodity.

U.S. inflationary pressures appeared contained, data on consumer prices showed, causing the dollar to pause from a rally as investors now expect lower odds that the U.S. Federal Reserve would tighten monetary policy anytime soon.

While gasoline prices rose sharply last month, consumers did not expect the run-up to last very long, the weekly Thomson Reuters/University of Michigan consumer survey showed.

On the New York Mercantile Exchange, crude for April delivery rose $1.95, or 1.86 percent, to settle at $107.06 a barrel. For the week, it fell 34 cents, or 0.32
percent after gaining in the week to March 9 at $107.40.

CBOT SOYBEANS- Soybean futures on the Chicago Board of Trade closed higher for
a fourth straight day, lifted by U.S. export demand tied to a drought-reduced South American crop, along with a weaker dollar, traders said.

Deferred soybean contracts supported by concerns that U.S. farmers might not plant enough soybeans this spring to meet demand. Allendale Inc pegged U.S. 2012 soybean plantings at 74.495 million acres, down from 75.0 million in 2011, based on a
producer survey.

FCPO- SINGAPORE, March 16 (Reuters) - Malaysian palm oil futures were almost flat on Friday, as some traders booked profits from a nine-month high notched in the previous session, while strong exports and soybean supply fears in drought-hit
South America supported prices.

Palm oil recorded four straight sessions of gains this week on upbeat price forecasts at a recent industry conference and positive news that lifted the global economic outlook. Edible oil futures are trading almost 7 percent higher this year.

Benchmark June palm oil futures on the Bursa Malaysia Derivatives Exchange gained one ringgit to close at 3,398 ringgit ($1,112) per tonne. Prices touched a new peak of 3,418 ringgit, a level not seen since last June.

Traded volumes on Friday stood at 24,583 lots of 25 tonnes each, slightly less than the usual 25,000 lots.

REGIONAL EQUITY-BANGKOK, March 16 (Reuters) - Philippine shares hit a fresh all-time high and Thai stocks climbed to their highest in almost 16 years on Friday, helped by selective buying in blue chip, but most other Southeast Asian stock markets fell as players locked in profits.

The Philippine main index <.PSI> ended up 2.3 percent at a record high of 5145.89 points, pushing gains for the week to 3.3 percent, its strongest weekly rise in almost five months.

It has been the best performer among larger markets in Southeast Asia so far in 2012, surging nearly 18 percent and eclipsed only by a 25 percent rise in Vietnam.