Trader's Highlight

DJI-NEW YORK, July 23 (Reuters) - U.S. stocks surged on Thursday, driving the Dow industrials above the key 9,000 mark for the first time since January, as strong corporate profits and rebounding home sales spurred optimism about the economy.

The market extended opening gains after data showed U.S. existing home sales rose in June -- the first time since 2004 that this measure has risen three months in a row. The Dow Jones U.S. home construction index <.DJUSHB> jumped 4.9 percent.

The Dow Jones industrial average <.DJI> jumped 188.03 points, or 2.12 percent, to end at 9,069.29 -- its highest close since November 2008. It was the Dow's first close above 9,000 since January 2009.

NYMEX-NEW YORK, July 23 (Reuters) - U.S. crude oil futures ended sharply higher on Thursday as a Wall Street rally and strong RBOB gasoline futures helped lift crude above $67 a barrel.

A strengthening contango, where prices for crude in future months exceed the front-month price, added to support for oil along, with expectations for reduced crude exports from OPEC.

On the New York Mercantile Exchange, September crude rose $1.76, or 2.69 percent, to settle at $67.16 a barrel, trading from $64.40 to $67.49. The intraday high failed to reach technical resistance charted at $67.65.

CBOT-SOYBEANS - August up 5 cents at $10.23-1/2 a bushel Support from tight soy supplies, news China not able to sell soy from state reserves and continued solid export sales of U.S. soybeans. Gains in crude oil also support prices.

Census pegs June U.S. soy crush 140.2 million bushels, above an average of analysts' estimates for 138.5 million.


CBOT-SOYOIL - August up 0.15 cent at 34.67 cents per lb.

Suported by gains in soybeans. But small number for soyoil in USDA's weekly export sales report and a big number for U.S. soyoil ending stocks for June in the Census Bureau's June crush report limited gains.

Census pegs June U.S. soyoil ending stocks 3.403 billion lbs, above an average of analysts' estimates for 3.354 billion.

FCPO-KUALA LUMPUR, July 23 (Reuters) - Malaysian crude palm oil ended up 0.8 percent on Thursday, halting two straight days of losses, as traders bet on better festival demand in the coming weeks and sentiment improved on higher external markets.

The benchmark October contract on Bursa Malaysia's Derivatives Exchange rose 17 ringgit to 2,100 ringgit ($593.5) per tonne. Overall volume was 12,464 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, July 23 (Reuters) - Most Southeast Asian stock markets rose on Thursday, with Singapore, Thailand and Indonesia recouping recent losses and Malaysia rising for a second day, with banking, property and resource shares among advancers.

Singapore's index <.FTSTI> rose 1.4 percent, with Singapore Exchange surging 4.9 percent following the appointment of a new chief executive.Singapore's index <.FTSTI> rose 1.4 percent, with Singapore
Exchange surging 4.9 percent following the appointment
of a new chief executive.

The Vietnamese index <.VNI> jumped 3.5 percent on Thursday while Malaysia's index <.KLSE> was up 0.3 percent, adding to a 1.23 percent rise on Wednesday, led by a 3.3 percent gain in Genting and 1.3 percent rise in Sime Darby .

DJI Daily: More room to upside potential

A significant breakout at the key 9000 mark had provided us a more clearer direction to the upside. Thus, we are now looking for the upside resistance at 9600-9800. While, downside support is pegged at 8800.

KLSE Daily: Peakless

Chart wise remains bullish and no sign of weakening. Thus, market may extend its upside gain in near term. Immediate resistance is now looking at 1160-1165 followed by 1180-1190. While, immediate downside support is pegged at 1140-1130.

FKLI Daily: Eyeing 1200 mark

Market rally likely to continue in near term and looks may want to challenge 1200 mark in near term. To the downside, support is pegged at 1140-1130.

FCPO Daily: searching for direction

Market is still searching for direction and moving in range trading. As for now, we are looking for the immediate downside support at 2078. To the upside, immediate resistance is at 2135 followed by 2160-2180.

Breaking News-RTRS-US corn, soy yields seen rising on good weather

CHICAGO, July 21 (Reuters) - Near-perfect conditions in soybean and corn fields around the U.S. Midwest this summer could lead to a bin-busting harvest this fall, an extension economist said.
If good growing weather persists through August, soybean yields in the United States could reach 44.7 bushels per acre, said Darrel Good, extension economist at the University of Illinois. The U.S. Agriculture Department predicted soybean yields of 42.6 bushels per acre in its latest forecast.

Breaking News-RTRS-Oil World sees record 2010 Argentine soybean crop

HAMBURG, July 21 (Reuters) - Argentina's soybean crop for harvesting in early 2010 may reach a record 52.0 million tonnes, up from the drought-reduced 32.2 million in early 2009 as farmers switch from wheat, Hamburg-based oilseeds analysts Oil World forecast on Tuesday.
Argentine farmers will plant 19.0 million hectares of soybeans for harvesting in April/May 2010, up from 17.50 million hectares harvested in early 2009, it estimated.

Breaking News-RTRS-Oil World sees strong rise in U.S. soybean exports

HAMBURG, July 21 (Reuters) - U.S. soybean exports are likely to rise strongly in coming months largely because of low stocks in rival South American suppliers, Hamburg-based oilseeds analysts Oil World forecast on Tuesday.

Trader's Highlight

DJI-NEW YORK, July 21 (Reuters) - U.S. stocks rose on Tuesday as a solid profit from Caterpillar Inc overcame some uneasiness about the company's outlook for the current quarter, but the gains were limited as some investors paused following the recent earnings-fueled run-up.

In addition, U.S. Federal Reserve Chairman Ben Bernanke said in testimony before a congressional panel that mounting joblessness, slumping home values and tight credit were likely to curb consumer spending -- a major driver of U.S. economic growth and corporate profits.

The Dow Jones industrial average <.DJI> gained 67.79 points, or 0.77 percent, to 8,915.94. The Standard & Poor's 500 Index <.SPX> rose 3.45 points, or 0.36 percent, to 954.58. The Nasdaq Composite Index <.IXIC> added 6.91 points, or 0.36 percent, to 1,916.20 -- a closing high for the year.

NYMEX-NEW YORK, July 21 (Reuters) - U.S. crude oil futures ended higher on Tuesday, but only after seesawing amid hopes for economic recovery and caution about the pace of any recovery.

Bernanke said the outlook for the U.S. economy was improving, but supportive policies would be needed for some time to prevent rising unemployment from undercutting recovery.

A Reuters analyst survey on Tuesday yielded a forecast for crude supplies to have fallen last week. Refined products supplies were expected to be higher.

On the New York Mercantile Exchange, expiring August crude rose 74 cents, or 1.16 percent, to settle at $64.72 a barrel, trading from $63.51 to $65.53.

CBOT-SOYBEANS - August down 18-1/2 cents at $10.14-1/2 a bushel.

Expectations for favorable weather conditions leading into U.S. crop's key pod-setting stage of development pressure prices due to prospects for yield improvement.

Expectations for favorable weather conditions leading into U.S. crop's key pod-setting stage of development pressure prices due to prospects for yield improvement.

CBOT-SOYOIL - August down 0.57 cent at 34.77 cents per lb. Following soybeans lower.

FCPO-KUALA LUMPUR, July 21 (Reuters) - Malaysian crude palm oil futures dropped almost 1 percent on Tuesday, halting a two-day winning streak as traders doubted the strength of Asian festival demand this year.

The benchmark October contract on Bursa Malaysia's Derivatives Exchange settled down 17 ringgit at 2,143 ringgit ($605.4) per tonne. Overall volume was 15,855 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, July 21 (Reuters) - The main Southeast Asian stock
markets erased early gains on Tuesday and ended lower, with Singapore and Malaysia snapping a five-day winning streak as big-caps such as CapitaLand and Public Bank met profit-taking.

Singapore <.FTSTI> slid 0.1 percent, with developer CapitaLand down 1.3 percent after a 15 percent surge in
five days, while Malaysia <.KLSE> lost 0.4 percent, with Public
Bank down 2 percent after a seven-day rise of 12
percent.

Indonesia <.JKSE> climbed 1.9 percent when trade resumed after a market holiday on Monday, while the Philippine index <.PSI> rose for a fifth day to end 0.2 percent higher and Vietnam <.VNI> gained 0.9 percent.

Trader's Comment: Profit taking activities led palm oil futures to end lower after range trading.

Profit taking activities led palm oil futures to end lower after range trading. Lack of fresh leads in the market had given traders the excuse to book their earlier profits in the previous 2-days rally. Benchmark Oct09 initially opened RM22 lower at 2140 and then started to move sideways, hovering between 2162-2128 through out the day until it ended RM19 lower at 2143. External vege oil markets also showed some weakness today after eCBOT soy oil edged lower while Dalian palm surrendered its earlier gains to ease off further. Daily volume increased slightly with 15,855 contracts changed hands.

DJI Daily: likely to challenge 9000 mark

Market looks likely to challenge 9000 mark as prices improved. To the downside, support is still maintain at 8000.

KLSE Daily: still bullish

Overall technical landscape remains in bullish picture despite a negative close. To the upside, immediate resistance is now at 1144 followed by 1150-1165. While, immediate downside support is pegged at 1120 followed by 1100.

FKLI Daily: shy away after hit another fresh year high

Market shy away after touch another fresh year high at 1148.5. To the upside, immediate resistance is now looking at 1148.5-1150 followed by 1170. While, immediate downside support is pegged at 1125-1120 followed by 1110.

FCPO Daily: stuck in range trading

Market continue to stuck in range trading between 2100 to 2200. As for now, we are looking for the immediate downside support at 2128-2123 (unfill gap left over on 20/7/2009) followed by 2080-2060. To the upside, immediate resistance is at 2180-2185followed by 2200.

Trader's Comment: Palm oil futures extended its overnight gains on the back of strong external markets.

Palm oil futures extended its overnight gains after prices gapped up and stayed higher through out the day on the back of strong external markets. Benchmark Oct09 immediately gapped up RM42 to open at 2165 and thereafter hovering between 2175-2144 through out most of the sessions. Buying support was generally due to the strong external markets in the Asian time trading as NYMEX crude oil and Dalian palm had continued to edge higher through out the day while eCBOT soy oil also recovered from its earlier losses and gained higher. Benchmark Oct09 surged further to hit intra day high of 2184 in the second session but some intra-day profit taking activities saw prices retreated back into earlier range again and settled RM39 higher at 2162 with total volume stood at 13,460 contracts changed hands.

Trader's Highlight

DJI-NEW YORK, July 20 (Reuters) - U.S. stocks jumped on Monday, driving the S&P 500 to an eight-month closing high, after CIT Group Inc was thrown a lifeline to avoid bankruptcy, and investors bet corporate America would log another strong set of earnings this week.

CIT , a lender to nearly 1 million small- and mid-sized U.S. companies, reached a deal with bondholders for $3 billion in emergency financing, a source familiar with the situation said. CIT's shares soared 78.6 percent to $1.25.

Investors were encouraged by signs that the CIT rescue was a private-sector measure instead of a government bailout.

The Dow Jones industrial average <.DJI> shot up 104.21 points, or 1.19 percent, to 8,848.15. The Standard & Poor's 500 Index <.SPX> gained 10.75 points, or 1.14 percent, to 951.13. The Nasdaq Composite Index <.IXIC> rose 22.68 points, or 1.20 percent, to 1,909.29.

NYMEX-NEW YORK, July 20 (Reuters) - U.S. crude oil futures ended higher on Monday after seesawing, extending last week's strong gains as a weak dollar and optimism reflected in stronger equities markets kept oil moving up.

On the New York Mercantile Exchange, August crude rose 42 cents, or 0.66 percent, to settle at $63.98 a barrel, trading from $63.19 to $64.90.

CBOT-SOYBEANS - August up 23-1/2 cents at $10.33 a bushel

Tight soy stocks, gains in equities and weak dollar, which makes U.S. commodities a better buy for importers, combine to lift soy futures. Prices continue to rebound from last week's sell-off.

CBOT-SOYOIL - August up 0.52 cent at 35.34 cents per lb. Following soybeans. Strength in equities markets combined with weak dollar also lifting market.

FCPO-KUALA LUMPUR, July 20 (Reuters) - Malaysian crude palm oil futures rose 1.8 percent on Monday, extending the previous week's gains as Asian festival demand strengthened and other vegetable oil markets gained.

The benchmark October contract on Bursa Malaysia's Derivatives Exchange settled up 39 ringgit to 2,162 ringgit ($610.9) per tonne. Overall volume stood at 13,460 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, July 20 (Reuters) - Stock markets in Singapore and
Malaysia extended their gains into a fifth day on Monday, leading most other Southeast Asian bourses higher, with optimism over quarterly earnings spurring demand for financials and big caps.

Singapore <.FTSTI> rose 1.04 percent to its highest since Sept. 25, with developer CapitaLand up 2.1 percent, while Malaysia <.KLSE> added 1.6 percent to its highest since Aug. 5, with power firm Tenaga Nasional up 3.1 percent.

Elsewhere, the Philippine index <.PSI> rose 1.3 percent on resuming trade after a typhoon caused the cancellation of Friday's session, while Vietnam <.VNI> bucked the trend, ending down 3.7 percent.

DJI Daily: 8800 tested

Market tested the immediate resistance at 8800 and looks may want to challenge 9000 mark. To the downside, support is maintain at 8000. We are still waiting for a significant breakout either way of 9000 level or 8000 level to identify a more clearer direction in near term.

KLSE Daily: still more room to the upside

Bull run looks likely to extend in near term as overall technical landscape maintain in bullish posture. To the upside, resistance is now at 1150-1165 followed by 1180-1190. While, downside support is pegged at 1100-1095.

FKLI Daily: Non-stop rallied

A non-stop bull rallied violated the immediate resistance at 1140 had further beautified the overall bullish picture. To the upside, immediate resistance is now looking at 1150-1170 followed by 1200. While, downside support is pegged at 1110-1115.

FCPO Daily: Improved

Immediate technical outlook has been improved following market extended gains. Nevertheless, more effort is still needed to escape from the current technical correction phase. As for now, we are now looking for the immediate downside support at 2144-2123 (gap left over on 20/7/2009). To the upside, immediate resistance is at 2200-2250.