DJI - NEW YORK, Nov 21 (Reuters) - U.S.
stocks rose on Wednesday after a ceasefire was declared to end the flare-up in
violence between Israel and the Palestinians, though the lack of a deal to
release emergency aid for Greece limited the market's advance.
Investors also remained anxious
about the mandatory tax increases and spending cuts that would go into effect
in the new year if a deal is not reached to prevent it - known as the
"fiscal cliff" - though policymakers are not expected to get back to
negotiations until after Thursday's Thanksgiving holiday.
Greece's international lenders
failed again to reach a deal to release emergency aid to the debt-saddled
country. Lenders will try again next Monday, but Germany signaled that
significant divisions remain.
A truce between Israel and Hamas
gave stocks some support around midday after Egypt announced a ceasefire will
come into effect later in the day.
Other data showed manufacturing
picked up at its quickest pace in five months in November, while consumer
sentiment improved only slightly.
NYMEX - NEW YORK, Nov 21 (Reuters) - U.S.
crude oil futures rose 63 cents to settle at $87.38 a barrel on
Wednesday, as late-day short-covering ahead of the Thanksgiving holiday offset
earlier relief over a ceasefire that ended eight days of fighting in the Gaza
strip.
CBOT Soybean - Nov 21 (Reuters) - Soybean futures on the Chicago Board of
Trade fell on Wednesday, on technical selling and profit-taking ahead of the
U.S. Thanksgiving Day holiday, traders said.
*The slide came after two sessions of gains as prices
rebounded from last week's five-month low.
- CBOT soyoil bucked the weak trend in the complex and closed
higher for a third day, buoyed by export demand for U.S. soyoil and
short-covering. Funds hold a large net short position in soyoil.
- USDA confirmed sales of 56,000 tonnes of U.S. soyoil to unknown
destinations and another 20,000 tonnes to China for 2012/13 delivery.
- USDA also confirmed sales of 120,000 tonnes of U.S. soybeans to
China for 2012/13 delivery.
- Customs data from top global soy buyer China showed it imported
4.03 million tonnes of soy in October, up 5.8 percent from a year earlier.
Year-to-date soy imports were up 16.6 percent from a year ago.
- China confirmed that it would stockpile corn and soybeans grown
domestically at higher prices than last year to help farmers' incomes. The
stockpiling program will end on April 30 next year.
- Trade expects USDA's export sales report on Friday to show
sales of U.S. soybeans in the latest week at 400,000 to 650,000 tonnes.
- Rain will reach dry soybean farms in southern Brazil by the
weekend and persist into next week, weather forecaster Somar said. The
moisture should kick-start germination of the newly-seeded crop after a
short dry spell.
FCPO - SINGAPORE, Nov 21 (Reuters) -
Malaysian palm oil futures eased on Wednesday, inching down for a second
straight session as lacklustre export data fuelled traders' concerns over a
slowdown in demand.
Malaysian palm exports for Nov. 1-20
fell 3.3 percent to 1.02 million tonnes from a month ago, cargo surveyor
Intertek Testing Services said on Tuesday. Another surveyor, Societe Generale
de Surveillance, reported a drop of 3.8 percent in shipments for the same
period.
Although Chinese demand continued to
grow on festival buying ahead of the Lunar New Year and as buyers stocked up
before stricter quality measures take effect in 2013, palm oil prices were
weighed down by much weaker Malaysian shipments to Europe and India.
"The market is fundamentally
bearish and prices will further correct before positive sentiment enters the
market," said a trader with a Malaysian commodities brokerage.
Regional Equities - Nov 21 (Reuters) - Major Southeast
Asian stock markets closed firmer-to-flat on Wednesday, weighed down by
uncertainty over a bailout deal for Greece and U.S. Federal Reserve Chairman
Ben Bernanke highlighting the dangers of a fiscal crisis.
