Friday, June 18, 2010

Trader's Highlight

DJI-NEW YORK, June 17 (Reuters) - U.S. stocks fell on Thursday as slowing regional factory activity and jobless claims underscored worries about the pace of the economic recovery.

Shares of manufacturers fell, including 3M Co , which was down 0.6 percent at $80.43, while the consumer discretionary sector also dragged the market lower. The S&P retail index <.RLX> declined 1.5 percent.

NYMEX-NEW YORK, June 17 (Reuters) - U.S. crude oil futures fell on Thursday amid a rise in jobless claims, a report showing factory growth plummeted in the U.S. Mid-Atlantic region and the expiration of July crude options.

Brent front-month crude finished higher, holding on to some of its early gains on optimism tied to a Spanish bond auction. NYMEX refined products also ended higher on refinery glitches and signs of improving demand, also pushing up heating
oil product crack spreads.

On the New York Mercantile Exchange, July crude fell 88 cents, or 0.88 percent, to settle at $76.79 a barrel, trading from $76.17 to $77.79.

CBOT-CHICAGO, June 17 (Reuters) - Chicago Board of Trade grains and soy complex close on Thursday.

CBOT-SOYBEANS - July down 5-3/4 at $9.52 per bushel; new-crop November up 1/2 at $9.25. Spot July weighed down by low soy number in USDA's weekly export sales report, including a cancellation by Japan. Other months held relatively firm versus July on wet weather in Canada that was trimming canola output prospects.

CBOT-SOYOIL - July down 0.08 cent at 38.05 cents per lb. Pressure from lower crude oil and weak close in spot July soy.

FCPO-KUALA LUMPUR, June 17 (Reuters) - Malaysian palm oil futures gained 0.8 percent on Thursday on technical buying as crude oil prices bounced off lows as investor risk appetite revived following a successful Spanish bond auction.

Crude oil, a barometer for commodity markets trimmed earlier losses and was trading above $77 a barrel on Thursday.

The benchmark September crude palm oil futures on Bursa Malaysia Derivatives Exchange ended 18 ringgit higher at 2,398 ringgit ($736.9) a tonne. The contract had hit a fresh seven-month low the previous day.

Traded volume rose to 13,435 lots of 25 tonnes each from the usual 10,000 tonnes.

REGIONAL EQUITIES-BANGKOK, June 17 (Reuters) - Indonesian shares gained more than 1 percent on Thursday and most other Southeast Asian bourses edged higher as optimism about the region's growth prospects bolstered appetite for shares reliant on domestic economies.

In Bangkok, the index hit its highest since May 4, with Total Access Communication climbing 2.8 percent on expectations the country's second-largest mobile phone firm would win a bid for 3G mobile licences scheduled for August.

Indonesia's benchmark stock index <.JKSE> rose for a fifth session, closing at its highest level since May 5, with state lender Bank Mandiri up 2.7 percent and number six lender Bank Danamon up 5.9 percent.

Malaysia <.KLSE> inched up 0.1 percent, led by financial firms, with AMMB Holdings up 1.2 percent and Hong Leong Bank 1.8 percent higher.

Singapore's main share index <.FTSTI>, bucking the regional trend, edged down 0.1 percent, turning lower after a 1 percent gain on Wednesday to its highest in almost five weeks.

Thursday, June 17, 2010

Trader's Highlight

DJI - NEW YORK, June 16 (Reuters) - U.S. stocks finished flat on Wednesday as cautious comments from FedEx and weak housing market data overshadowed a surge in industrial production.

Investors were caught off guard after package company FedEx Corp , deemed an economic bellwether because it serves a wide range of industries, said higher costs would constrain 2011 earnings. FedEx shares slid 6 percent to
$78.07.

The U.S. government said housing starts fell more than expected in May, underscoring the uneven nature of the economic recovery and casting a shadow over better-than-expected industrial production data for the same month.

NYMEX - NEW YORK, June 16 (Reuters) - U.S. crude oil futures rose a third straight session on Wednesday, ending a choppy session at a six-week high amid mixed economic data and a government inventory report that showed crude oil stocks rose and gasoline stocks fell last week.

"The ability of the energy complex to advance significantly today without much assistance from the euro or equities suggests an energy momentum play at work," Jim Ritterbusch, president at Ritterbusch & Associates, said in a note.

Oil prices have rebounded from the 2010 low of $64.24 a barrel struck May 20. The S&P 500 index moved above its 200-day moving average on Tuesday, helping push NYMEX crude above its own key 200-day moving average.

CBOT - SOYBEANS - July up 8-1/4 at $9.57-3/4 per bushel; new-crop November up 9 at $9.24-1/2. Talk that China has bought one to two cargoes of beans supportive to prices in addition to support from excessive wet weather in Canada that was trimming canola output prospects. Some local flooding and excessive rainfall in portions of U.S. Midwest delaying final soy plantings. But outlooks called for warmer and drier weather over the next week to 10 days.

CBOT - SOYOIL - July up 0.32 cent at 38.13 cents per lb. Soybean strength supportive in addition to support from higher crude oil. U.S. Senate raises roadblock to biodiesel tax credit.

FCPO - KUALA LUMPUR, June 16 (Reuters) - Malaysian crude palm oil futures rose on Wednesday after hitting seven-month lows earlier in the day as healthy demand for European debt securities re-ignited hopes for global economic growth.

World stocks hit a one-month high and the euro briefly hit a two-week peak as strong gains on Wall Street and the relative success of this week's European debt auctions encouraged risk taking.

The benchmark September crude palm oil contract on the Bursa Malaysia Derivatives Exchange ended 14 ringgit higher at 2,380 ringgit ($728.5) a tonne. The contract feel earlier to a low of 2,367 ringgit, a level unseen since Nov. 20 last year.

Traded volume was heavy, almost doubling to 19,375 lots of 25 tonnes each.

REGIONAL EQUITIES - BANGKOK, June 16 (Reuters) - Indonesian shares climbed to
their highest level in six weeks on Wednesday as investors piled into index heavyweights amid general optimism over the economy on a day its central bank announced measures to manage capital flows.

Jakarta's benchmark stock index <.JKSE> finished the session 1 percent higher, at one point touching its highest since May 5.

Successful European debt auctions boosted hopes for global growth and lifted sentiment in Asian stock markets, with Singapore <.FTSTI> at its highest in almost five weeks, Malaysia <.KLSE> at four-week highs and Thailand <.SETI> six-week highs.

Wednesday, June 16, 2010

Trader's Highlight

DJI - NEW YORK, June 15 - U.S. stocks jumped on Tuesday as investors went on a buying binge. The S&P 500 turned positive for the year and rose above its 200-day moving average for the first time in a month, suggesting the recent downtrend may be nearing an end.

Investors were motivated by successful debt auctions in Spain, Belgium and Ireland, which lifted some of the gloom over Europe's debt crisis. The euro rallied against the dollar and pushed commodity prices higher.

The Dow Jones industrial average gained 213.88 points, or 2.10 percent, to 10,404.77. The Standard & Poor's 500 Index gained 25.60 points, or 2.35 percent, to
1,115.23. The Nasdaq Composite Index gained 61.92 points, or 2.76 percent, to 2,305.88.

NYMEX - NEW YORK, June 15 - U.S. crude oil futures ended at the highest level in more than five weeks on Tuesday, rising for the second day in a row, on heightened risk appetite as Wall Street and the euro rallied after debt auctions in Europe
raised confidence in global economic recovery.

On the New York Mercantile Exchange, July crude settled at $76.94 a barrel, gaining $1.82, or 2.42 percent. The settlement was the highest since the May 6 front-month close at $77.11. It traded from $74.62 to $77.16, the highest since the
intraday peak of $77.68 on May 11.

CBOT - SOYBEANS - July down 2 cents at $9.49-1/2 per bushel. Profit-taking after rally to one-month high weighs on market. Early support from a decline in U.S. soy condition ratings and wet weather in Canada that is expected to trim canola output and further support from gains in crude oil.

CBOT - SOYOIL - July up 0.42 cent per lb at 37.81 cents per lb. Support from gains in crude oil and unwinding of meal/oil spreads.

FCPO - KUALA LUMPUR, June 15 - Malaysian palm oil futures ended at more than 7-month lows on Tuesday as investors took profit after key export figures came in below expectations and renewed worries over Europe's debt crisis rattled equities.

Exports of Malaysian palm oil products for June 1 to 15 were down 2 percent compared to the same period last month, according to cargo surveyor Societe Generale de Surveillance.

But another surveyor, Intertek Testing Services, reported a 1.5 percent rise in palm oil products exported through ports it monitors during the period.

The benchmark August crude palm oil futures on Bursa Malaysia Derivatives Exchange fell 0.8 percent or 19 ringgit to 2,391 ringgit ($735.4) a tonne after dropping earlier to a low of 2,378 ringgit, a level unseen since Nov 20 last year.

REGIONAL EQUITIES
- BANGKOK, June 15 - Indonesian shares climbed to their highest in almost a month on Tuesday as optimism over the country's sound economic fundamentals bolstered sentiment while undervalued shares elsewhere in the region attracted buyers.

Despite generally positive sentiment, Moody's downgrade of Greece's credit rating pulled Southeast Asian share markets off their highs for the day and most finished their sessions just slightly higher.

Indonesia's main share index , Asia's second best performing market this year, ended the day up 0.12 percent, after rising earlier to its highest level since May 17.

In Singapore, the index ended just flat, with commodity firm Noble Group up 2.2 percent and telecom firm Singapore Telecom down 0.33 percent.

Tuesday, June 15, 2010

Trader's Highlight

DJI-NEW YORK, June 14 (Reuters) - U.S. stocks ended little changed in a low-volume session on Monday after a downgrade of Greece's debt took the wind out of the market's sails.

Equities have been sensitive to debt problems in Greece and other European nations in recent months on concerns the euro zone's fiscal problems will hamper a global economic recovery.

The Dow Jones industrial average <.DJI> slipped 20.18 points, or 0.20 percent, to 10,190.89. The Standard & Poor's 500 Index <.SPX> shed 1.97 points, or 0.18 percent, to 1,089.63. But the Nasdaq Composite Index <.IXIC> inched up just 0.36 of a point, or 0.02 percent, to 2,243.96.

NYMEX-NEW YORK, June 14 (Reuters) - U.S. crude oil futures ended almost 2 percent higher on Monday, as risk appetite improved on economic recovery optimism after data showed that euro zone industrial production rose, boosting the euro and causing the dollar to decline.

But a credit downgrade of Greece by Moody's Investor Service sparked caution and limited the day's gains.

On the New York Mercantile Exchange, crude for July delivery settled $1.34 higher, or 1.82 percent, at $75.12 a barrel, trading from $74.04 to $75.99.

CBOT-CHICAGO, June 14 (Reuters) - Chicago Board of Trade grains and soy complex close higher on Monday.

CBOT-SOYBEANS - July up 5-1/4 cents at $9.51-1/2 per bushel; new-crop November up 7 at $9.16-1/4. Boosted by weak dollar, higher crude oil and strength in wheat. Front-month July gaining on new-crop November as spreads narrowed.

CBOT-SOYOIL - July up 0.49 cent at 37.39 cents per lb. Following strength in soybeans and crude oil market. Additional support from concern about weather problems curtailing canola production in Canada; canola oil competes with soyoil.

FCPO-KUALA LUMPUR, June 14 (Reuters) - Malaysian crude palm oil futures gained more than 1 percent on Monday, boosted by China's aggressive buying of soyoil.

Palm oil rivals and tracks soyoil as both vegetable oils compete for use in the food and industrial sectors. The tropical oil has been trading at a premium to soyoil due to weak Malaysian production and a bumper soy crop from South America.

In a sign the global economy is growing, the U.S. reported last week that China had bought 80,000 tonnes of soyoil, lifting Chicago futures <0#BO:> in Asian trade on Monday.

The benchmark August crude palm oil futures on Bursa Malaysia Derivatives Exchange ended 24 ringgit higher at 2,410 ringgit ($734.1) a tonne. Last week, the market fell to more than seven-month lows.

REGIONAL EQUITIES-BANGKOK, June 14 (Reuters) - Thai stocks rose 1.5 percent on Monday as higher consumer confidence boosted appetite for companies reliant on the domestic economy, while energy shares in the region got a lift from a strong oil market.

The Thai index <.SETI> ended at its highest level since May 11, rising for a fourth session as investors bought shares likely to benefit from the improving economy and as political tension eased after the end of disruptive protests in the capital.

Singapore <.FTSTI> rose 0.8 percent, Malaysia <.KLSE> edged up 0.2 percent and Vietnam <.VNI> added 0.8 percent. The Philippines <.PSI> was shut for a market holiday.

Resource shares in the region were higher with Malaysia's Tenaga Nasional up 0.12 percent, Indonesian coal firm Adaro Energy up 1.1 percent and Singapore's palm plantation firm Wilmar International up 1.4 percent.

Monday, June 14, 2010

Trader's Highlight

DJI-NEW YORK, June 11 (Reuters) - U.S. stocks rose in a late rally on Friday as a strong forecast from a chip maker lifted tech shares and helped alleviate concerns about the economy's health after an unexpected drop in retail sales.

National Semiconductor Corp rose 5 percent to $14.21 a day after it forecast margins and revenues above estimates after a horrible 2009. The Philadelphia Semiconductor index <.SOXX> rose 1.4 percent.

The Dow Jones industrial average <.DJI> gained 38.54 points, or 0.38 percent, to 10,211.07. The Standard & Poor's 500 Index <.SPX> rose 4.76 points, or 0.44 percent, to 1,091.60. The Nasdaq Composite Index <.IXIC> climbed 24.89 points, or 1.12 percent, to 2,243.60.

NYMEX-NEW YORK, June 11 (Reuters) - U.S. crude oil futures ended lower on Friday, snapping a three-day winning streak, as disappointing retail sales outshadowed a report of improved consumer mood, underlining the shaky pace of economic recovery.

Data showing slowing industrial output in China also pressured prices earlier in the day.

On the New York Mercantile Exchange, crude for July delivery settled at $73.7a barrel, down $1.70, or 2.25 percent, after trading from $73.26 to $75.64.

CBOT-CHICAGO, June 11 (Reuters) - Chicago Board of Trade grains and soy complex trends at 12:45 p.m. CDT (1745 GMT) on Friday.

CBOT-SOYBEANS - July up 4 cents at $9.39 per bushel; new-crop November up 5-3/4 at $9.00-1/2. Rallying in seesaw trade on spillover from corn and wheat, and ideas Thursday's declines were overdone.

CBOT-SOYOIL - July down 0.01 cent at 36.74 cents per lb. Pressured by declines in crude oil.

FCPO-KUALA LUMPUR, June 11 (Reuters) - Malaysian palm oil futures on Friday fell to more than seven-month lows as investors took profit due to palm oil's premium to rival soyoil in cash markets and concerns over Europe's debt crisis.

The market has lost 3.6 percent alone for this week despite bullish export and stocks data as investors remained uncertain over the recovery of the global economy. Palm oil has so far declined more than 10 percent this year.

The benchmark August crude palm oil futures on Bursa Malaysia Derivatives Exchange ended 1 percent lower to 2,386 ringgit ($723) per tonne after going as low as 2,379 ringgit -- a level unseen since Nov. 20 last year.

Overall traded volume almost doubled to 19,312 lots of 25 tonnes each, compared with the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, June 11 (Reuters) - Indonesian shares gained more than 1 percent on Friday, leading gains in most other Southeast Asian markets, as investors bought resource shares because of strength in oil prices.

Optimism that the world economic recovery was on track despite Europe's debt woes bolstered sentiment, although stock markets in Singapore <.FTSTI>, Malaysia <.KLSE>, Thailand <.SETI> and Vietnam <.VNI> posted smaller gains.

In Singapore, banking shares extended gains amid optimism about growth in the city-state's economy, with top lender DBS Group Holdings and United Overseas Bank each rising more than 1 percent.

Friday, June 11, 2010

Trader's Highlight

DJI-NEW YORK, June 10 (Reuters) - U.S. stocks posted their best day in the last nine on Thursday in response to signs of health in the euro debt market and as investors snapped up energy shares crushed in the previous day's sell-off.

The energy sector led a broad advance with all but four stocks in the S&P 500 finishing the day higher.

The Dow Jones industrial average <.DJI> jumped 273.28 points, or 2.76 percent, to 10,172.53. The Standard & Poor's 500 Index <.SPX> rose 31.15 points, or 2.95 percent, to 1,086.84. The Nasdaq Composite Index <.IXIC> gained 59.86 points, or 2.77 percent, to 2,218.71.

NYMEX-NEW YORK, June 10 (Reuters) - U.S. crude oil ended at the highest level in nearly four weeks on Thursday, with prices up for the third straight session as solid Chinese exports data and a rosier demand forecast by the International Energy Agency encouraged investors to buy riskier assets.

Wall Street rallied on the booming Chinese exports. The dollar weakened, losing some of its safe-haven glow. The euro rose on the news from China and was also aided by a strong demand for Spanish bonds, easing some sovereign debt worry.

On the New York Mercantile Exchange, front month July crude settled up $1.10, or 1.48 percent, at $75.48 a barrel, the highest close since May 12's $75.65 settlement. It traded from $73.72 to $76.30.

CBOT-CHICAGO, June 10 (Reuters) - Chicago Board of Trade grains and soy complex closing trends on Thursday.

CBOT-SOYBEANS - July down 8-1/2 cents at $9.35 per bushel; new-crop November down 1-3/4 at $8.94-3/4.

CBOT-SOYOIL - July unchanged cent at 36.75 cents per lb. Crude oil supportive to prices but weakness in soybeans weighs.

FCPO-KUALA LUMPUR, June 10 (Reuters) - Malaysian crude palm oil futures hit fresh five-month lows on Thursday as global economic fears arising from the euro zone debt crisis outweighed upbeat industry data.

The fall ran counter to expectations for palm oil futures to gain in the afternoon session after an industry regulator said May stocks fell 3.71 percent to 1.56 million tonnes or an eighth month low.

Benchmark August crude palm oil futures on Bursa Malaysia Derivatives Exchange closed 0.3 percent lower at 2,410 ringgit ($726.3) a tonne after falling as low as 2,396 ringgit, a level unseen since Jan. 27. Traded volume fell to 8,641 lots of 25 tonnes each from the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, June 10 (Reuters) - Singapore stocks rose to their highest in almost a week on Thursday as optimism about its second-quarter performance boosted bank shares, while good China exports figures the previous day bolstered the region.

Risk appetite in Southeast Asia generally improved following positive signs from China as well as assurances from the U.S. Federal Reserve Chairman Ben Bernanke that the U.S. economy was resilient.

Singapore <.FTSTI> ended up 1.23 percent, Malaysia <.KLSE> edged up 0.1 percent, Thailand <.SETI> edged up 0.5 percent and Vietnam <.VNI> was up 0.6 percent.

Singapore's market had fallen 4.07 percent so far this year, Southeast Asia's worst performer. It trades at a 12-month forward price to earnings of 12.5 times, lower than Indonesia's 13.2 and Malaysia's 13.0, according to Thomson Reuters' StarMine. Banking shares in the region were mostly higher on expectations they would benefit from a recovery.

In Kuala Lumpur, Malayan Banking was up 0.4 percent and financial CIMB Group gained 0.3 percent. Malaysia's economy is expected to grow 6 percent this year, Prime Minister Najib Razak said on Thursday.

Thursday, June 10, 2010

Trader's Highlight

DJI-NEW YORK, June 9 (Reuters) - U.S. stocks fell on Wednesday in another late-day roller-coaster ride, dragged lower by BP and other energy shares as the U.S. probe of the oil spill in the Gulf of Mexico deepened.

New York-traded shares of BP plc fell 15.8 percent to below $30 on growing worries about the costs the energy giant will have to assume because of the spill.

The Dow Jones industrial average <.DJI> dropped 40.73 points, or 0.41 percent, to 9,899.25. The Standard & Poor's 500 Index <.SPX> fell 6.31 points, or 0.59 percent, to 1,055.69. The Nasdaq Composite Index <.IXIC> lost 11.72 points, or 0.54 percent, to 2,158.85.

NYMEX-NEW YORK, June 9 (Reuters) - U.S. crude oil futures ended up more than 3 percent on Wednesday as news of a surge in Chinese exports in May and data that U.S. crude inventories dropped more than expected last week improved risk appetite.

Crude's gains were part of an overall advance in an array of commodities. The Reuters-Jefferies CRB index comprising 19 commodities <.CRB> posted its biggest daily gain in two weeks as oil, metals and crop prices surged.

On the New York Mercantile Exchange, July crude settled up $2.39, or 3.32 percent, at $74.38 a barrel, trading from $72.03 to $74.96, highest since Friday's $75.42 intraday peak. The contract settled up 55 cents at $71.99 on Tuesday.

CBOT-CHICAGO, June 9 (Reuters) - Chicago Board of Trade grains and soy complex closing trends on Wednesday.

CBOT-SOYBEANS - July up 12-1/2 cents at $9.43-1/2 per bushel; new-crop November up 2-1/4 cents at $8.96-1/2. Rebounds from three-month low due to tight supplies around the U.S. Midwest and news of fresh sales to China. Spread between front month and deferred contract widens as expectations build for a large crop this year.

CBOT-SOYOIL - July up 0.08 cent at 36.75 cents per lb. Export interest from China boosts prices. Gains in crude oil market also supportive.

FCPO-KUALA LUMPUR, June 9 (Reuters) - Malaysian crude palm oil futures ended offfive-month lows on Wednesday after leaked China trade data showing exports surged last month suggested Asia's economic growth was on the path to recovery.

But the palm oil market stayed in negative territory on lingering concerns that the euro zone debt crisis may lead to a double-dip recession in other parts of the world.

Palm oil traders expected inventories in Malaysia to make little headway in May despite strong exports as production rose and crude palm oil imports from Indonesia were steady -- a scenario still weighing on prices.

The benchmark August crude palm oil futures on the Bursa Malaysia Derivatives Exchange ended down 14 ringgit at 2,418 ringgit ($727) after going as low as 2,402 ringgit -- a level unseen since Jan. 27. Traded volume more than doubled to 25,459 lots of 25 tonnes each from the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, June 9 (Reuters) - Southeast Asian stock markets ended mostly firmer on Wednesday as news of stronger-than-expected exports from China offset worries that Europe's debt problems would stifle demand for Asian goods.

Thailand <.SETI> climbed 0.9 percent, ending two sessions of falls, with financials and energy stocks higher. Malaysia <.KLSE> and Indonesia <.JKSE> both posted small gains while Singapore <.FTSTI> and the Philippines <.PSI> drifted lower.

In Kuala Lumpur, AirAsia jumped 4.7 percent after a newspaper reported its long-haul budget carrier, AirAsia X, planned to launch an initial public offering in the second half of 2011 to tap public funds for growth. [ID:nSGE6570QA]

In Singapore, big caps pulled the market lower. Top lender DBS Group Holdings and the biggest developer CapitaLand both fell 0.6 percent.

Wednesday, June 9, 2010

Trader's Highlight

DJI-NEW YORK, June 8 (Reuters) - U.S. stocks mostly rose in volatile trading on Tuesday, led by materials and financial shares, but investors shied away from big-cap technology shares on concerns about their European exposure.

Once again, the market was treated to late-day volatility, this time with stocks closing at or near session highs after a wobbly session.

The Dow Jones industrial average <.DJI> gained 123.49 points, or 1.26 percent, to 9,939.98. The Standard & Poor's 500 Index <.SPX> rose 11.53 points, or 1.10 percent, to 1,062.00. But the Nasdaq Composite Index <.IXIC> dropped 3.33 points, or 0.15 percent, to 2,170.57.

NYMEX-NEW YORK, June 8 (Reuters) - U.S. crude oil futures rebounded on Tuesday as risk appetite improved with the dollar weakening against the euro and ahead of inventory data forecast to show that domestic crude stocks fell last week.

Crude got an early lift from Wall Street, which opened higher the session after Federal Reserve Chairman Ben Bernanke said the U.S. economy appeared to have enough momentum to avoid a double-dip recession.

On the New York Mercantile Exchange, crude for July delivery settled up 55 cents, or 0.77 percent, at $71.99 a barrel. It was an "inside day" for July crude, trading from $70.75 to $72.40, against Monday's $69.51 to $72.49 range.

CBOT-CHICAGO, June 8 (Reuters) - U.S. soybean futures fell on Tuesday due to strong crop ratings from the U.S. Agriculture Department and technical selling.

CBOT-SOYBEANS - July last down 8 cents at $9.27 per bushel. USDA soybean ratings 75 percent good to excellent, planting 84 percent complete, topping forecasts for 70 percent.

CBOT-SOYOIL - July last up 0.18 cent at 36.65 cents per lb. Strength in crude oil supportive.

FCPO-KUALA LUMPUR, June 8 (Reuters) - Malaysian crude palm oil futures hit fresh one-week lows on Tuesday as concerns over the fiscal health of European economies sapped sentiment.

Expectations of higher Malaysian production in May partly weighed on the market, which has dropped nearly 9 percent so far this year.

A Reuters poll showed output rose 6 percent in the last month from April although resilient local and foreign demand put stocks in the world's No. 2 producer at 8-month lows.

The benchmark August crude palm oil futures on the Bursa Malaysia Derivatives Exchange traded 0.7 percent lower to 2,431 ringgit ($733.3) per tonne. Traded volume was heavy, rising to 14,202 lots of 25 tonnes each from the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, June 8 (Reuters) - Indonesian shares climbed 1 percent on Tuesday while most Southeast Asian stocks ended mixed as energy and resource shares recouped recent losses.

Several bourses in the region took a breather after recent sell-offs on concern about euro zone debt and ahead of Chinese economic data and a European Central Bank meeting later in the week.

Singapore <.FTSTI> and Thailand <.SETI> ended off their day's highs, edging down 0.2 percent and 0.3 percent respectively. Malaysia <.KLSE> was up 0.15 percent, the Philippines <.PSI> was 0.3 percent higher and Vietnam <.VNI> inched up 0.06 percent.

Palm oil shares in the region were weaker, with Malaysia's Sime Darby down 0.13 percent, IOI Corp down 0.2 percent and Singapore-listed Wilmar International down 0.5 percent.

Broker CIMB Investment Bank downgraded Asian Plantation sector from overweight to neutral as earnings growth momentum was slowing and there was downside risk to crude palm oil (CPO) price forecasts if the euro debt crisis spread.

Tuesday, June 8, 2010

Breaking News-RTRS-MALAYSIA'S END-MAY PALM OIL STOCKS SEEN DOWN 0.6 PCT AT 1.61 MLN TONNES VS APRIL -REUTERS POLL

KUALA LUMPUR, June 8 (Reuters) - Malaysia's May palm oil
stocks slipped 0.6 percent to eight-month lows as domestic and
foreign demand still outpaced a rise in output, a Reuters poll
showed on Tuesday.
Stocks in the world's No.2 palm oil producer fell for the
fifth straight month to hit 1.61 million tonnes with the decline
slowing on growing crude palm oil imports from rival Indonesia,
the poll of five plantation houses showed.

Trader's Highlight

DJI-NEW YORK, June 7 (Reuters) - U.S. stocks fell on Monday, taking the S&P 500 to its lowest close in seven months, as industrials and technology shares fell and investors stayed on their heels after last week's payrolls figure discouraged buyers.

The Nasdaq fared the worst as investors unloaded positions in the most liquid large-cap technology shares. Research in Motion Ltd fell 5.2 percent to $56.56 on worries about the BlackBerry's sales and after the introduction of Apple's latest iPhone. Apple Inc lost 1.9 percent.

The Dow Jones industrial average <.DJI> fell 115.48 points, or 1.16 percent, to 9,816.49. The Standard & Poor's 500 Index <.SPX> slid 14.41 points, or 1.35 percent, to 1,050.47. The Nasdaq Composite Index <.IXIC> tumbled 45.27 points, or 2.04 percent, to 2,173.90.

NYMEX-NEW YORK, June 7 (Reuters) - U.S. crude oil futures were down on Monday, though well off early lows, as euro zone economic worries remained, after some bargain-hunting pared sharp losses earlier in the day.

The losses stuck, despite a higher opening on Wall Street on strong German factory data that eased some euro-zone concerns [.N].

On the New York Mercantile Exchange at 9:47 a.m. EDT (1347 GMT), July crude was down 55 cents, or 0.77 percent, at $70.96 a barrel, trading from $69.51 to $71.95.

CBOT-CHICAGO, June 7 (Reuters) - U.S. corn, soybean and wheat futures fell on Monday as forecasts for good weather bolstered expectations of large crops this year.

CBOT-SOYBEANS - July last down 1/2 cent at $9.34-1/2 per bushel. Tight cash markets limited declines in soybean prices.

CBOT-SOYOIL - July last down 0.32 cent at 36.46 cents per lb. Choppy, prices followed fluctuations in soyoil market throughout the trading day.

FCPO-KUALA LUMPUR, June 7 (Reuters) - Malaysian crude palm oil futures dropped to one-week lows as renewed economic concerns hit financial markets and the U.S. dollar gained.

Expectations for a slight rise in Malaysia's stocks last month also dampened sentiment in a market that has lost 8 percent so far this year on slower demand and the euro zone debt crisis.

The benchmark August crude palm oil futures on the Bursa Malaysia Derivatives Exchange fell as much as 1.5 percent, to 2,437 ringgit ($744.3) a tonne, a level unseen since June 1.

The contract ended at 2,449 ringgit, down 25 ringgit on the day, with volumes at 14,255 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, June 7 (Reuters) - Indonesian shares fell to their lowest level in over a week on Monday and other Southeast Asian
stock markets also moved lower as resource shares came under selling pressure because of lower commodity prices.

Sentiment in the region was hurt by disappointing U.S. job data and as fears mounted that European debt problems would worsen, pushing Singapore <.FTSTI>, Malaysia <.KLSE>, Thailand <.SETI> and the Philippines <.PSI> down.

In Singapore, top lender DBS fell 2.8 percent and bourse operator Singapore Exchange lost 2.3 percent

In Kuala Lumpur, Malaysia's CIMB Group was down 0.4 percent. The Stock Exchange of Thailand said the listing of CIMB in Bangkok would be delayed for a few months from June.

Monday, June 7, 2010

Trader's Highlight

DJI-NEW YORK, June 4 (Reuters) - U.S. stocks could face further pressure next week unless investors get some relief from worries about Europe, jobs and the toll they might take on the economic recovery.

Reports on retail sales and consumer sentiment, both of which should offer clues on the outlook for spending, are among the coming week's major economic indicators. Also on tap will be international trade data.

For the week, the Dow Jones industrial average <.DJI> fell 2 percent, while the S&P 500 declined 2.3 percent and the Nasdaq <.IXIC> lost 1.7 percent. The S&P 500 is also down 12.5 percent from its April 23 closing high for the year.

NYMEX-NEW YORK, June 4 (Reuters) - U.S. crude oil futures ended 4 percent lower on Friday as disappointing U.S. employment data and fresh fear about Europe's bank woes spreading sparked risk aversion and fueled worries about economic recovery.

On the New York Mercantile Exchange, July crude fell $3.10, or 4.15 percent, to settle at $71.51 a barrel, lowest settlement since closing at the same level on May 26.

CBOT-CHICAGO, June 4 (Reuters) - Chicago Board of Trade grain and soy complex closing trends on Friday.

CBOT-SOYBEANS - July down 20 cents at $9.35 per bushel; new-crop November down 19-3/4 at $9.00.

CBOT-SOYOIL - July down 0.88 cent at 36.78 cents per lb. Spillover weakness from declines in soybeans and crude oil.

FCPO-JAKARTA, June 4 (Reuters) - Malaysian palm oil futures ended higher on Friday as bullish crude oil and soyoil markets encouraged buying, traders said.

External markets supported palm oil, traders said, but further gains were limited by slowing demand from China and India.

Market players pegged support and resistance level at 2,450 ringgit and 2,480 ringgit per tonne respectively next week.

The benchmark August crude palm oil futures on the Bursa Malaysia Derivatives Exchange rose 0.73 percent, or 18 ringgit, to 2,474 ringgit ($756.6) a tonne, after hitting as high as 2,481 ringgit. Overall traded volume was 10,094 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, June 4 (Reuters) - Thai stocks climbed to their highest in three weeks on Friday as investors bought resource shares seen safe from domestic political risks while the region climbed higher as markets awaited U.S. payrolls data.

The Thai stock market <.SETI> regained foreign inflows this week, with net foreign buying worth a net $32.7 million. It suffered a huge $1.80 billion foreign sell-off in May as fears over political risks grew amid anti-government protests.

Singapore <.FTSTI> ended 0.5 percent up on Friday, Indonesia <.JKSE> added 0.4 percent and the Philippines <.PSI> edged up 0.05 percent. Malaysia <.KLSE> ended unchanged, erasing early gains, and Vietnam <.VNI> inched down 0.15 percent.

In Singapore, United Overseas Bank , its third-biggest bank, rose 0.7 percent after Fitch Ratings affirmed its long-term foreign-currency issuer default rating (IDR) at 'AA-' with a stable outlook.

In Kuala Lumpur, Maybank was up 0.4 percent. Broker Citi Investment said it rated the stock a 'buy', citing loan growth of Malaysian banks in April and generally healthy first quarter earnings in the sector.

Friday, June 4, 2010

Trader's Highlight

DJI-NEW YORK, June 3 (Reuters) - The dollar rose broadly and U.S. stocks staged a late-day rally to end higher as optimism ahead of Friday's key monthly jobs report overshadowed concern that Europe's debt crisis is worsening.

U.S. Treasuries debt prices fell in choppy trade as investors trimmed their safe-haven holdings of government bonds in anticipation of a robust May payrolls report.

Crude oil prices rose more than 2 percent as a government report showed that inventories of crude oil and gasoline fell more than expected last week.

Skittish investors kept markets volatile through most of the day. U.S. stocks fell in response to weakness in the euro, but were supported by data on private sector employment and jobless claims, before finally ending higher. A rally in technology shares led Wall Street gains.

The Dow Jones industrial average rose 5.74 points, or 0.06 percent, to 10,255.28. The Standard & Poor's 500 Index <.SPX> gained 4.44 points, or 0.40 percent, to 1,102.82. The Nasdaq Composite Index <.IXIC> closed up 21.96 points, or 0.96 percent, to 2,303.03.

NYMEX-NEW YORK, June 3 (Reuters) - U.S. crude oil futures ended
2.4 percent higher after a volatile session on Thursday, lifted by a government oil inventory report showing crude oil and gasoline stocks fell more than expected.

U.S. stocks ended higher after seesawing, led by a late-day surge in technology shares as investors geared up for a strong jobs report on Friday.

On the New York Mercantile Exchange, front-month July crude rose $1.75, or 2.4 percent, to settle at $74.61 a barrel, trading from $72.32 to $74.95, reaching the high in post-settlement trading.

CBOT-CHICAGO, June 3 (Reuters) - U.S. soybean futures rose sharply on Thursday due to firmer cash markets and a wave of technical buying.

CBOT-SOYBEANS - July last up 23-3/4 cents at $9.56-1/4 per bushel. Slow movement of supplies in country spur gains early. Technical buying adds fuel to rally as prices rise above 20-day moving average.

CBOT-SOYOIL - July last up 0.23 cent at 37.65 cents per
lb. Soybean rally, crude oil gains supportive.

FCPO-JAKARTA, June 3 (Reuters) - Malaysian palm oil futures fell on short-selling on Thursday, erasing early gains as investors tested the resistance and support level, traders said.

The benchmark August crude palm oil futures on the Bursa Malaysia Derivatives Exchange fell 0.49 percent, or 12 ringgit, to close at 2,456 ringgit ($752.7) a tonne. The contract touched as high as 2,482 ringgit a tonne. Traded volume was 9,631 lots of 25 tonnes each, slightly below the daily average of 10,000 lots.

Thursday, June 3, 2010

Trader's Highlight

DJI-NEW YORK, June 2 (Reuters) - U.S. stocks rallied more than 2 percent on Wednesday as energy shares rebounded one day after a steep sell-off, while the yen fell after the resignation of Japanese Prime Minister Yukio Hatoyama raised concerns about the outlook for the currency.

Surprisingly strong U.S. housing data for April drove optimism about the economy, also boosting stocks and driving up oil prices. The stock rally also eased concerns that Europe's sovereign debt crisis could restrain a fragile economic recovery.

The Dow Jones industrial average <.DJI> closed up 225.52 points, or 2.25 percent, at 10,249.54. The Standard & Poor's 500 Index <.SPX> rose 27.67 points, or 2.58 percent, at 1,098.38. The Nasdaq Composite Index <.IXIC> gained 58.74 points, or 2.64percent, at 2,281.07

NYMEX-NEW YORK, June 2 (Reuters) - U.S. crude oil futures settled higher on Wednesday, supported by strong U.S. pending home sales that also lifted Wall Street equities.

Crude oil futures traded inside Tuesday's range and for a second straight day finished well below the intraday high amid choppy trading ahead of the week's oil inventory reports.

On the New York Mercantile Exchange, July crude rose 28 cents, or 0.39 percent, to settle at $72.86 a barrel, trading from $71.68 to $73.93. Tuesday's trading ranged from $71.64 to $75.33.

CBOT-CHICAGO, June 2 (Reuters) - Chicago Board of Trade grain and soy complex closing trends on Wednesday.

CBOT-SOYBEANS - July up 1/2 cent at $9.32-1/2 a bushel; new-crop November up 3/4 at $9.03-1/2. Tight cash markets and rally in crude oil support soybeans, offsetting pressure from favorable U.S. crop weather and planting progress.

CBOT-SOYOIL - July down 0.10 cent at 37.42 cents per lb. Late retreat; losing against soymeal on meal/oil spreads.

FCPO-JAKARTA, June 2 (Reuters) - Malaysian palm oil futures extended gains for a second day on Wednesday as firmer prices for rival soyoil sparked some short covering, traders said.

The benchmark August crude palm oil futures on the Bursa Malaysia Derivatives Exchange rose 0.33 percent, or 8 ringgit, to settle at 2,468 ringgit ($745.6) a tonne -- the highest close since May 24. Overall traded volume was 15,499 lots of 25 tonnes each, above the daily average of 10,000 lots.

REGIONAL EQUITIES-BANGKOK, June 2 (Reuters) - Thai stocks gained over 1 percent on Wednesday after the Bank of Thailand decided to keep interest rates unchanged, which had been widely expected after recent political unrest but still spurred late buying, analysts said.

Southeast Asian bourses ended off their day's highs, with Singapore <.FTSTI> up 0.5 percent, Indonesia <.JKSE>, Asia's second-best performer this year, up 0.33 percent, the Philippines <.PSI> up 0.7 percent and Vietnam <.VNI> adding 0.4 percent.

Bucking the trend, Malaysia <.KLSE> drifted down 0.5 percent in thin volume, led by a 1.8 percent fall in top lender Maybank .

In Singapore, Mapletree Logistics Trust rose 3.1 percent to S$0.835. Broker Citi said it raised Mapletree's target price to S$0.91 and kept its 'buy/low risk' rating, citing its growth strategy as it was acquiring three properties.

Wednesday, June 2, 2010

Breaking News-RTRS-Indonesia says degraded land key for palm expansion

YOGYAKARTA, Indonesia June 1 (Reuters) - Indonesia's palm oil industry can grow via acquisitions of six million hectares of degraded land across the archipelago, a government official said on Tuesday, in a bid to allay concerns of slowing expansion.
Planters in the world's largest palm oil producer are increasingly worried over Indonesia's plans to revoke forestry licences to palm oil firms as part of a $1 billion climate change deal signed with Norway.
Didiek Goenadi, a senior official with Indonesia Investment Coordinating Board, said forests and peatlands that hold large carbon reserves can still be preserved while giving planters an option to swap out to degraded land.

Trader's Highlight

DJI-NEW YORK, June 1 (Reuters) - U.S. stocks fell on Tuesday as energy shares slid after the latest failed attempt to halt the oil spill in the Gulf of Mexico clouded future prospects for energy company profits.

The Dow Jones industrial average <.DJI> dropped 112.61 points, or 1.11 percent, to 10,024.02, according to the latest available figures. The Standard & Poor's 500 Index <.SPX> dropped 18.70 points, or 1.72 percent, to 1,070.71. The Nasdaq Composite Index <.IXIC> dropped 34.71 points, or 1.54 percent, to 2,222.33.

NYMEX-NEW YORK, June 1 (Reuters) - U.S. crude oil futures settled nearly 2 percent lower on Tuesday as concerns that Europe's debt problems may spread and data showing slower growth in China weighed on the euro and oil futures.

Trading was volatile as crude rallied intraday with the euro and Wall Street equities on positive U.S. construction spending and manufacturing data, before falling back after failing to hold above $75 a barrel.

On the New York Mercantile Exchange, July crude fell $1.39, or 1.88 percent, to settle at $72.58 a barrel, trading from $71.64 to $75.33.

CBOT-KANSAS CITY, June 1 (Reuters) - Chicago Board of Trade wheat, corn and soybeans ended lower on Tuesday on good planting and harvest weather.

CBOT-SOYBEANS - July down 5-3/4 cents at $9.32. Tight cash markets underpin, though pressure from favorable U.S. weather.

CBOT-SOYOIL - July settled down 0.09 cent at 37.52 cents per lb. Followed soybeans as Egypt's Meditrade buys 49,000 tonnes of edible oils. China gives no sign of resolving Argentina soyoil row.

FCPO-JAKARTA, June 1 (Reuters) - Malaysian palm oil futures edged higher by Tuesday despite losses in crude oil, boosted by higher demand in the physical market and a weaker ringgit currency, traders said.

The benchmark August crude palm oil futures on the Bursa Malaysia Derivatives Exchange rose 0.99 percent, or 24 ringgit, to settle at 2,460 ringgit ($746.6) a tonne. Traded volume was 9,917 lots of 25 tonnes each. Other contracts rose between 0.63 percent to 1.48 percent.

REGIONAL EQUITIES-BANGKOK, June 1 (Reuters) - Southeast Asian stock markets fell on Tuesday as euro zone worries prompted investors to reduce their stakes in risky assets, especially shares in companies that have greatest exposure to any economic slowdown.

Indonesia <.JKSE> fell 2.6 percent, Singapore <.FTSTI> lost 1.3 percent, Thailand <.SETI> slid 1.3 percent and Malaysia <.KLSE> closed 0.2 percent down.

In Singapore, top lender DBS Group fell 2.1 percent and Oversea-Chinese Banking Corp. slid 1.6 percent, while Genting Singapore closed 6.6 percent weaker.

In Kuala Lumpur, transport company MISC Bhd fell 1 percent.

Tuesday, June 1, 2010

Trader's Highlight

FCPO-JAKARTA, May 31 (Reuters) - Malaysian palm oil futures fell almost 1 percent on Monday, despite data showing improved exports, after a downgrade of Spain's credit rating led to investor caution over riskier assets like commodities.

Markets in May were focused on the euro zone debt crisis which began with worries over Greece's finances and entered a new phase on Friday when Fitch ratings agency downgraded Spain's sovereign debt rating.

The benchmark August crude palm oil futures on Bursa Malaysia Derivatives Exchange fell 0.85 percent, or 21 ringgit, to close at 2,436 ringgit ($794.1), after touching 2,425 ringgit, the lowest level since May 19. Traded volume was 9,540 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, May 31 (Reuters) - Indonesian shares rose more than three percent to nearly a two-week peak on Monday, boosted by foreign buying and expectations the central bank will leave its key interest rate unchanged at a record-low this week.

Singapore <.FTSTI>, Malaysia <.KLSE> and Thailand <.SETI> also gained as fund managers bought large-capitalised stocks for month-end window dressing following holidays on Friday.

In Singpore, Parkway Holdings shares jumped 22.9 percent after Malaysian sovereign fund Khazanah offered $835 million for control of Singapore's biggest private healthcare group, leaving India's Fortis Healthcare to make the next move in a potential takeover battle.

In Kuala Lumpur, AirAsia Bhd rose 4.3 percent before it announced after the market close that its first-quarter net profit rose from the same period a year ago.

Monday, May 31, 2010

Breaking News-RTRS-INTERVIEW-Malaysian palm stocks to rise despite Asian festivals

YOGYAKARTA, Indonesia May 31 (Reuters) - Malaysia palm oil stocks are set to recover in May and rise faster in the next three months as Asian consumers take up more soyoil that trades at par with the tropical oil, a senior official said on Monday.
Malaysian Palm Oil Board Director (MPOB) General Basri Wahid said palm oil stocks usually fall in the June-August period as top buyers India and the Middle East stock up for religious festivals from August starting from Ramandan fasting month.
But ample South American supplies of soyoil have made the normally expensive vegetable oil trade at same level as FOB palm olein seen at $810 for June delivery, prompting a switch of orders away from Malaysia, the No. 2 palm oil producer.
Also, India has record stocks of oilseeds for crushing, discouraging crude palm oil imports from top producer Indonesia as well as Malaysia.

Trader's Highlight

DJI-NEW YORK, May 28 (Reuters) - U.S. stocks ended lower on Friday, capping off their worst month in over a year as Fitch Ratings' downgrade of Spain's credit rating reignited worries about euro-zone debt issues.

The Dow and the S&P 500 registered their worst monthly percentage losses since February 2009. Based on the latest available data, the Dow Jones industrial average <.DJI> fell 122.36 points, or 1.19 percent, to end unofficially at 10,136.63. The Standard & Poor's 500 Index <.SPX> was down 13.65 points, or 1.24 percent, to finish unofficially at 1,089.41. The Nasdaq Composite Index <.IXIC> was down 20.64 points, or 0.91 percent, to close unofficially at 2,257.04.

NYMEX-NEW YORK, May 28 (Reuters) - U.S. crude oil futures ended lower on Friday, posting their worst monthly decline since December 2008 at the height of the financial crisis, as a downgrade of Spain's credit rating sparked further euro zone
worries and prompted oil traders to seek less risky assets.

The day's retreat from a heady rally the day before accelerated past midday as Wall Street dropped sharply following news of the Fitch ratings agency's downgrade, stoking more worries that the euro-zone debt crisis would stifle global economic growth.

On the New York Mercantile Exchange, July crude settled down 58 cents, or 0.78 percent, at $73.97 a barrel, after trading from $73.13 to $75.72.

CBOT-CHICAGO, May 28 (Reuters) - Chicago Board of Trade grains and soy complex closing trends on Thursday.

CBOT-SOYBEANS - July down 14 cents at $9.37-3/4 per bushel; new-crop November down 11 at $9.07-3/4. Pressured by sell-off in corn, favorable U.S. weather and rally in the dollar.

CBOT-SOYOIL - July down 0.57 cent at 37.61 cents per lb. Following declines in soybeans and crude oil.

FCPO-JAKARTA, May 27 (Reuters) - Indonesia's palm oil exports in April fell 15.6 percent from a year ago because of a higher export tax and sluggish demand from Europe, the Indonesian Palm Oil Association (GAPKI) said on Thursday.

Indonesia exported 1.028 million tonnes of palm oil and its by-products in April, compared to 1.218 million tonnes in the same period last year, Gapki said in a statement.

REGIONAL EQUITIES-BANGKOK, May 27 (Reuters) - Southeast Asian markets gained on Thursday as investors looked for bargains among cheaply valued shares and positive sentiment in commodity markets spurred demand for energy and resource sectors.

Sentiment in the region turned more positive as the euro recovered on Thursday after comments from a Chinese official calmed some concerns that the country may be distancing itself from euro zone debt holdings.

Singapore's Wilmar International rose 1.6 percent, Malaysia's Sime Darby was up 3.03 percent and Indonesia's Astra Agro Lestari gained 0.3percent.

Thursday, May 27, 2010

Trader's Highlight

DJI-NEW YORK, May 26 (Reuters) - Wall Street staged yet
another late-day reversal on Wednesday to end lower as news
suggesting China was reassessing its euro-zone debt holdings
pushed investors into profit-taking mode.

The Dow closed below 10,000 for the first time since Feb.
8. The late turnaround in stocks showing investor psyche
remains fragile, and investors are inclined to sell strength
in this volatile rumor-driven market.

NYMEX-NEW YORK, May 26 (Reuters) - U.S. crude oil futures settled
4 percent higher on Wednesday, on revived risk appetite helping
lift broader markets, combined with government data indicating
better oil demand helping to fuel a technical bounce in
oversold oil markets.

"It was a rebound back into risk assets, helped by the
durable goods data, that extended the lift from equities that
developed late on Tuesday," said Matt Smith, energy analyst at
Summit Energy in Louisville, Kentucky.

CBOT-CHICAGO, May 26 (Reuters) - Chicago Board of Trade grain and soy complex close on Wednesday.

CBOT-SOYBEANS - July up 7-1/2 cents at $9.38 per bushel; new-crop November up 7 at $9.10.
* Rebounding from Tuesday's slide on oversold technicals, firm cash markets, slow farmer selling, higher equities and gains in crude oil.

CBOT-SOYOIL - July up 0.68 cent at 37.85 cents per lb.
* Support from higher crude oil, soybeans and a rebound in equities markets in addition to support from oil/meal spreading.

FCPO-JAKARTA, May 26 (Reuters) - Malaysian palm oil futures ended
higher on Wednesday, countering a decline of more than 2 percent
the previous day, as crude oil rose on signs a U.S. supply glut
will ease.

The benchmark August crude palm oil futures on the
Bursa Malaysia Derivatives Exchange rose 0.66 percent, or 16
ringgit, to 2,452 ringgit ($813.3) a tonne, after hitting a high
of 2,480 ringgit. Traded volume stood at 14,782 lots of 25
tonnes each.

REGIONAL EQUITIES-BANGKOK, May 26 (Reuters) - Indonesian stocks surged 7.3
percent on Wednesday, rebounding from three-month lows the day
before and leading gains in Southeast Asia as Bumi Resources

In Singapore, Noble Group rose 5.6 percent after
Fitch Ratings revised the outlook on the commodity firm's
long-term foreign currency Issuer Default Rating (IDR) to
positive from stable.

Wednesday, May 26, 2010

Breaking News-RTRS-Soyoil prices to stay firm near term -Oil World

HAMBURG, May 25 (Reuters) - Soyoil prices are likely to remain firm in coming weeks despite current weakness in soybeans and soymeal, while China is likely to resume soyoil buying from Argentina, Hamburg-based oilseeds analysts Oil World said on Tuesday.
Global consumption of the eight main vegetable oils was likely to exceed production in April/Sept 2010, cutting stocks and supporting prices, it said.