Trader's Highlight

DJI - NEW YORK, June 25 (Reuters) - Global stock indexes and the euro sank on Monday on doubts that a European summit this week would move any closer to solving the region's festering debt crisis, a pessimistic outlook that spa rked a bid for safe-haven assets.

The euro fell broadly on investor skepticism that the meeting of European Union leaders on Thursday and Friday will produce substantive measures to tackle the debt crisis, now in its third year and buffeting Spain, the euro zone's fourth-largest economy.

Spanish and Italian bond yields rose in a sign of investor skittishness, while the dollar and U.S. government debt prices ga ined as investors sought safety.

Decliners beat advancers by a ratio of about 3 to 1 on both the New York Stock Exchange and the Nasdaq in light trade.

The Dow Jones industrial average lost 138.12 points, or 1.09 percent, to close at 12,502.66. The Standard & Poor's 500 Index fell 21.30 points, or 1.60 percent, to finish at 1,313.72. The Nasdaq Composite Index  slid 56.26 points, or 1.95 percent, to end at 2,836.16.

NYMEX - NEW YORK, June 25 (Reuters) - U.S. crude futures fell back on Monday as Tropical Storm Debby, the first named storm of this Atlantic hurricane season, missed the Gulf of Mexico's production-rich areas and hopes faded that an EU summit this week will find durable solutions to the region's  debt crisis. 

CBOT SOYBEAN, June 25 (Reuters) - Soybean futures on the Chicago Board of Trade ended higher, with deferred contracts leading the way up as dry weather and rising temperatures threatened U.S. yield potential.    

* Most-active November soybeans broke through major chart resistance at $14.00 per bushel, its previous contract high, to set a new top at $14.37. September 2012, January and August 2013 soybeans also set contract highs.

* Spot July soybeans reached $14.91-1/4, the highest level on a continuous price chart since May 2. 

* Soymeal and soyoil futures also rose, with deferred contracts leading the advances. Soymeal futures set contract highs in most months other than spot July.

* A high pressure ridge hovering over the Rocky Mountains is expected to push east across the Midwest and Delta later this week through next week, bringing the hottest days of the season to the Midwest. Highs in Chicago highs could reach 100 degrees Fahrenheit (38 Celsius) on Thursday.

* Soybeans pared gains slightly after updated computerized forecasting models indicated good rains could move through the eastern Midwest by early next week, but forecasters were skeptical of the changes. 

* USDA confirmed sales of 120,000 tonnes of U.S. soybeans to China for delivery in 2012/13. 

    

* Analysts surveyed by Reuters expected USDA in its weekly crop progress report later on Monday to show 53 percent of the U.S. soybean crop rated in good to excellent condition, down

from 56 percent a week earlier. 

* USDA reported export inspections of U.S. soybeans in thelatest week at 9.182 million bushels, below trade estimates for 12 million to 14 million bushels. 

* CFTC's weekly supplemental report on Friday showed large speculators expanded their net long position in CBOT soybeans by 4,235 contracts as of June 19, to 182,294 contracts.

FCPO - SINGAPORE, June 25 (Reuters) - Malaysian crude palm oil futures closed higher on Monday on hopes demand for the tropical oil would get a boost as dry weather in the United States curbs supply of competing soybean oil.

Palm oil futures rose close to 4 percent last week on U.S. weather woes, and prices sharply extended those gains on Monday on concerns that the drought could be worse than expected.

Rising exports ahead of the Muslim fasting month Ramadan that begins in end-July also added to the bullish mood. "The dry weather is lending support. Demand should also be able to stay healthy because of last-minute purchase ahead of Ramadan," said Alan Lim Seong Chun, research analyst with Malaysia's Kenanga Investment Bank.

"Also, there will be a summit in Europe this week. Since the general equities markets have gone down quite a bit, the market expects the Europe leaders to make some decisions to keep the economy going. These are conditions for further stimulus, and they will be beneficial for all commodities including palm oil."

Benchmark September palm oil futures on the Bursa Malaysia Derivatives Exchange jumped 2.6 percent to close at 3,030 ringgit ($948) per tonne, after hitting a high of 3,059 ringgit earlier in the session. 

Traded volumes stood at 26,177 lots of 25 tonnes each, slightly higher than the usual 25,000 lots.

Malaysian palm oil exports grew 4.4 percent to 1.2 million tonnes in the first 25 days of the month from a month ago, said cargo surveyor Intertek Testing Services, backed by higher shipment to China, India and Pakistan.

Another cargo surveyor Societe Generale de Surveillance will delay the data release palm oil exports to Tuesday, an official said.  

Traders cited fears that dry weather would impede the planting of the last of the U.S. soybean crop, including so-called "double-crop" soybeans that are planted on recently harvested winter wheat fields. 

Unfavourable weather that could hurt soybean crop may lead to a smaller supply of soybean oil, shifting demand to thecheaper refined palm oil.

Brent crude futures hovered around $90 a barrel on Monday as concerns about faltering global growth and Europe's debt crisis hit investor confidence. 

In other vegetable oil markets, U.S. soyoil for July delivery jumped 2.1 percent, lending support to palm oil prices.

The most active January 2013 soyoil contract on Dalian commodity exchange also rose 1 percent after resuming trading after a holiday. Prices touched a new high at 9,620 yuan per tonne, a level last seen since May 14.

REGIONAL EQUITY, BANGKOK, June 25 (Reuters) - Southeast Asian stock markets ended mostly lower on Monday, after a range-bound session, with Philippine shares bucking the trend as large cap stocks such as Philippine Long Distance Telephone Co  rose on hopes of better earnings.

The Philippine benchmark stock index <.PSI> rose 0.9 percent to its highest close in six weeks, led by a 4.9 percent gain by top telecoms firm PLDT, which was also the most actively traded.

The outlook for Philippine companies' earnings was attractive, including telecoms, conglomerates and power firms,said Oliver Plana, head of sales at AsiaSec Equities Inc in Manila.

"The domestic market increasingly got good foreign buying interest. It is because of good macro numbers and the profit expectation has gone up," he said.

Overall, the emerging region's investors remained wary of persistent fears about Europe's debt crisis and fresh concerns about global economic growth. Malaysia <.KLSE> ended flat,climbing at one point to an intraday record high of 1,611.50.