FCPO losing ground as failed to sustain at higher end

Market is losing ground after prices failed to sustain at higher end. Prices gap down and ended weak. Market may continue to look for a range to consolidate in near term. We look for the upside resistance at 2675-2688 (gap left over yesterday). For downside, support is pegged at 2513.

FKLI extended its consolidation phase

Market is facing overhead resistance at 1089.5-1083 and support is pegged at 1048-1046.5. Consolidation phase likely to continue in near term.

KLSE in range bound mode

Market may continue to trade in range between 1096 to 1064.5 in near term.

Breaking News-RTRS-Interview-India seeks 900,000 T vegoils in Sept, Oct

* India may import 900,000 tonnes of vegoils in Sept, Oct

* India soy output may exceed 10 mln T if monsoon revives

* Country may re-impose import tax on vegoils from mid-Oct

RTRS-M'sia palm could slide to 2,200 ringgit -Mistry

KUALA LUMPUR, Aug 25 (Reuters) - Malaysian crude palm oil futures could slide as far as 2,200 ringgit per tonne before triggering fresh demand, as ideal weather extends the main growing season, a leading industry analyst said on Monday

But Dorab Mistry cautioned that the forecast only applied if struggling oil prices stabilise around $100 a barrel.

Breaking News-DJ INTERVIEW:Pakistan Wants More Malaysian Crude Palm Oil -Exec

KUALA LUMPUR (Dow Jones)--Pakistan is seeking a larger supply of palm oil in crude form from Malaysia instead of refined palm olein due to the creation of fresh domestic refining capacity, Karachi-based Inam Bari, director of Dalda Foods, said Monday.

Breaking News-RTRS-Interview-KL Kepong to plant 10,000 ha of oil palm yearly in Indonesia

-KL Kepong to plant 10,000 ha of oil palm yearly in Indonesia
-Invested 200 mln ringgit in biofuel softening plant
-Defers $300 mln bond issue due to bad market conditions

Breaking News-DJN-Buyers in Bangladesh are renegotiating or deferring around 200,000 metric tons of palm oil imports

KUALA LUMPUR (Dow Jones)--Buyers in Bangladesh are renegotiating or deferring
around 200,000 metric tons of palm oil imports owing to a sharp fall in global
prices since mid-June, a Dhaka-based trading executive said Monday.

FCPO traded in yoyo manner

Market traded in yoyo manner after last week of rebound from the fresh year low at 2351. However, prices unable to hold at higher end and gap down after the morning opening bell. Looks may enter to a consolidation zone and looking to trade in range in near term. We now look for upside resistance at 2688-2675 (gap left over this morning). For downside, support is pegged at 2606-2594 (remaining gap left over).

FKLI in consolidation mode

Market was in range bound trading after a short term technical rebound from the low of 1048. Looks may extend its consolidation phase and trade between the range of 1090-1048.

KLSE continue to look for a range to consolidate

Market continue to look for a range to consolidate in near term between 1095 to 1064.5.

Breaking News-RTRS-UPDATE: CPO May Not Fall Below MYR2,200/Ton In Near Term

KUALA LUMPUR (Dow Jones)--Crude palm oil futures may not fall below MYR2,200 a metric ton for the next few weeks if crude oil prices stabilize around $100 a barrel with a 10 percentage points range, Dorab Mistry, a London-based vegetable oils analyst, said Monday."At these levels, there should be strong demand growth," Mistry said addressing a conference organized by the Malaysian Palm Oil Council.

Breaking News-RTRS-UPDATE:India Farm Min: No Proposal To Tax Edible Oil Imports

NEW DELHI (Dow Jones)--India's federal government Friday said it has no plans to impose a duty on crude edible oil imports, and will release additional wheat, rice and sugar stocks in the local markets to curb the rising prices of essential commodities.

Breaking News-DJ INTERVIEW:Lower CPO Prices May Push Up Demand;Pull Dn Stocks

KUALA LUMPUR (Dow Jones)--Crude palm oil fundamentals are still strong as the recent fall in prices is expected to accelerate demand and help bring down inventories from record levels, Malaysian Palm Oil Council Chief Executive Yusof Basiron said.

Breaking News-DJ INTERVIEW: Global Vegoil Demand Weak;Supply Weighs On Prices

KUALA LUMPUR (Dow Jones)--Global vegetable oil demand continues to be weak,putting pressure on prices, palm oil's high production cycle may continue into October and soybean acreage in South America is expected to rise, commodity market analyst Dorab Mistry said Sunday.

Trader's Highlight

DJI-NEW YORK, Aug 22 (Reuters) - U.S. stocks rallied on Friday to score their best daily gain in two weeks as hopes that Lehman Brothers may attract a major investor lifted financial stocks while a plunge in oil prices soothed worries about inflation and consumer spending.

The Dow Jones industrial average <.DJI> shot up 197.85 points, or 1.73 percent, to 11,628.06. The Standard & Poor's 500 Index <.SPX> rose 14.48 points, or 1.13 percent, to 1,292.20. The Nasdaq Composite Index <.IXIC> climbed 34.33 points, or 1.44 percent, to 2,414.71.

NYMEX-NEW YORK, Aug 22 (Reuters) - U.S. crude oil futures tumbled more than 5 percent on Friday, the biggest percentage loss for a day since December 2004, as a strong dollar fueled a sell-off. Also helping pressure crude was a report of higher OPEC production this month and the restart of the Baku-Tbilisi-Ceyhan pipeline, traders said.

On the New York Mercantile Exchange, front-month October crude settled down $6.59, or 5.44 percent, at $114.59 a barrel, after trading from $114.18 to $121.86.

CBOT-SOYBEANS - September down 20 cents at $13.21 per bushel, November down 21 at $13.27. Profit-taking after two-week rally weighs on soy prices, along with weak crude oil and firm dollar. Outlooks for rain in the United States over the weekend and next week add pressure. But some of the forecasts indicate only light rainfall.

Pro Farmer estimates 2008 U.S. soy crop 2.930 billion bushels, below USDA's August forecast for 2.973 billion. Traders said Pro Farmer estimate mildly supportive for soy prices but the immaturity of the crop leading to uncertainty about final 2008 production.

SOYOIL - September down 1.41 cents at 54.15 cents per lb. Weak crude oil weighs along with profit-taking.

Statistics Canada projects Canadian canola production at 10.375 million tonnes, up 8.9 percent

FCPO-KUALA LUMPUR, Aug 22 (Reuters) - Malaysian crude palm oil futures soared 3.8 percent on Friday, scoring two-week highs as overnight gains in crude oil spurred investors to jump back into vegetable oil markets.

The benchmark November contract on the Bursa Malaysia Derivatives Exchange rose as much as 100 ringgit to 2,753 ringgit ($824) per tonne, a level unseen since Aug. 8. By midday, the contract was trading up 62 ringgit at 2,715 ringgit.

REGIONAL EQUITIES-BANGKOK, Aug 22 (Reuters) - Southeast Asian stock markets mostly rose on Friday, with high crude and palm oil prices driving gains in plantation firms such as Malaysia's IOI Corp and Singapore's Wilmar.

Malaysian shares <.KLSE> closed 1.32 percent higher, with IOI Corp rising 6.4 percent, top listed company Sime Darby up 2.3 percent and KL Kepong 4.3 percent higher.

In Singapore, the benchmark index swung from red to end 0.36 percent higher, helped by buying of the world's largest palm oil firm, Wilmar, which added 2.7 percent, and Golden Agri, which rose 7.5 percent.

Indonesia's main index rose 1.54 percent to its highest close in about two weeks, led by a 3.9 percent rise in resource firm PT International Nickel Indonesia Tbk. PT Bumi Resources Tbk gained 2.8 percent.

DJI Weekly: Entering consolidation phase

Market extend its consolidation phase. We continue to look for the resistance and support at 11924.19 and 11125-11157 level respectively in near term.

Trader's Comment: CPO futures surrender some gains to finish off high on pre-weekend profit taking activities

Pre-weekend profit taking after last few session of good rebound saw CPO futures to surrender some gains to finish off high. Benchmark Nov08 prices rallied to hit intra-day high at 2753 boosted by short-covering and speculative buying following a hefty gains in overnight CBOT and strong crude oil prices in NYMEX. It ease off and tumbled to hit 2688 in last hour of trading. Later, it settled RM62 higher at 2715.

FCPO Weekly: rebound after steep fall

Market rebound with a long white candle and violated the resistance at 2728 after a steep fall to the year low at 2351. We now look for the immediate support at 2351-2314. While, resistance is at 2838-2897.

FKLI Weekly: 1045.5-1050.0 defended well

Market violated the 1st underline support at 1086.5-1083 and tested the next support at 1045.5-1050.0 in daily basis and it managed to defend well. However, immediate daily technical landscape remained in bearish zone as market still struggle below the downtrend line. We now look at the support at 1050.0-1045.5. For upside, resistance is at 1133.5-1146.5