Monday, December 13, 2010

Trader's Highlight

DJI-NEW YORK, Dec 10 (Reuters) - U.S. stocks rose on Friday, with the S&P 500 at its highest level since the week Lehman Brothers collapsed in 2008, and breaching technical levels that suggest the year-end rally will persist.

Indexes closed near session highs with the Nasdaq Composite up for its eighth consecutive daily gain; in that time, the tech-heavy index is up 5.5 percent. The Nasdaq finished at its highest level since Dec. 31, 2007. Volume was below average as is typical for this time of the year.

The Dow Jones industrial average <.DJI> added 40.26 points, or 0.35 percent, to 11,410.32. The Standard & Poor's 500 <.SPX> gained 7.40 points, or 0.60 percent, to 1,240.40. The Nasdaq Composite <.IXIC> rose 20.87 points, or 0.80 percent, to 2,637.54.

NYMEX-NEW YORK, Dec 10 (Reuters) - U.S. crude oil futures ended lower on Friday, posting the first weekly loss in three as China raised bank reserve requirements to fight inflation.

China's action spurred further speculation that it may raise interest rates soon, a move that could cool down demand from the world's largest energy consumer.

On the New York Mercantile Exchange, January crude settled down 58, or 0.66 percent, at $87.79 a barrel, trading from $87.10 to $89.00. It fell from the $90.76, 26-month high hit on Tuesday.

CBOT-CHICAGO, Dec 10 (Reuters) - Chicago Board of Trade grain and soy complex close on Friday.

CBOT-SOYBEANS - January down 8-1/2 cents at $12.73 per bushel. Lower on technical selling and profit-taking after USDA's U.S. soybean ending stocks forecast came in slightly above trade estimates.

CBOT-SOYOIL - December unchanged at 53.79 cents per lb; January up 0.01 at 54.16 cents. Following declines in soybeans and crude oil.

FCPO-KUALA LUMPUR, Dec 10 (Reuters) - Malaysian crude palm oil rose on Friday on a larger than expected stock draw, fuelling concerns the monsoon season will slash output further.

Palm oil marked its second straight week of gains despite exports falling sharply in the first ten days of December after consumers switched to competing soyoil that does not solidify in colder weather.

The benchmark Feb 2011 crude palm oil on the Bursa Malaysia Derivatives Exchange ended up nearly 1 percent at 3,633 ringgit ($1,156), edging closer to a 29-month high hit the day before. Traded volumes more than doubled to 23,408 lots of 25 tonnes each from the usual 10,000 lots.

REGIONAL EQUITIES-COLOMBO, Dec 10 (Reuters) - Most Southeast Asian stock markets closed lower on Friday on concerns over further policy tightening by China and persistent worries about Europe's debt crisis, but Indonesia and the Philippines continued to see significant inflows.

Indonesia <.JKSE>, the region's best performer in 2010, saw foreign inflows of $327.9 million foreign inflow, the highest daily net offshore buying this year, Reuters data showed.

But the overall Jakarta market fell 1 percent from a record high led by banking shares, which were volatile throughout the week, which analysts attributed to heavy local buying in small cap banks. The bourse has gained 48 percent so far this year.

Singapore <.FTSTI> fell 0.8 percent on profit taking and Malaysia <.KLSE> closed 0.9 percent weaker on concerns over possible rate hikes in China over the weekend.

Friday, December 10, 2010

Trader's Highlight

DJI-NEW YORK, Dec 9 (Reuters) - U.S. stocks edged up on Thursday, with the benchmark S&P 500 index hovering around two-year highs, a trend investors expect to continue through the rest of the year.

"A lot of traders thought the market would have a little bigger bump" after breaking a key technical level of 1,228 on the S&P, said Alan Valdes, director of floor trading for DME Securities in New York.

The Dow Jones industrial average <.DJI> dipped 2.42 points, or 0.02 percent, to 11,370.06. The Standard & Poor's 500 Index <.SPX> gained 4.72 points, or 0.38 percent, to 1,233.00. The Nasdaq Composite Index <.IXIC> rose 7.51 points, or 0.29 percent, to 2,616.67.

NYMEX-NEW YORK, Dec 9 (Reuters) - U.S. crude oil futures prices ended sightly higher on Thursday on economic recovery optimism fueled by data showing U.S. jobless claims fell last week and on stronger gasoline futures lifted by a refinery unit outage.

Crude prices seesawed with a volatile dollar index <.DXY> amid concerns Ireland's debt problems pressuring the euro as Ireland had its debt downgraded by a ratings agency.

On the New York Mercantile Exchange, January crude rose 9 cents, or 0.1 percent, to settle at $88.37 a barrel, trading from $87.71 to $89.42.

CBOT-CHICAGO, Dec 9 (Reuters) - Chicago Board of Trade grain and soy complex close on Thursday.

CBOT-SOYBEANS - January down 14-1/2 cents at $12.81-1/2 per bushel. Profit-taking after Wednesday's rally, firm dollar and position-squaring ahead of the release on Friday of USDA's December supply/demand reports. Downturn in crude oil adds pressure as d 1768169570

CBOT-SOYOIL - December down 0.01 cent at 53.79 cents per lb; January down 0.03 at 54.15 cents.

FCPO-KUALA LUMPUR, Dec 9 (Reuters) - Malaysian crude palm oil rose to a fresh 29-month high on Thursday as investors bet heavier monsoon rains next month would cut production.

Investors also expected a stocks and production report by the Malaysian Palm Oil Board due on Friday to show a drawdown in inventories and lower yields at a time of resilient export demand.

The benchmark Feb 2011 crude palm oil on the Bursa Malaysia Derivatives Exchange rose as much as 1.3 percent to 3,640 ringgit ($1,157), a level unseen since July 4, 2008, before giving up some gains to settle at 3,598 ringgit.

Traded volumes more than doubled to 22,294 lots of 25 tonnes each from the usual 10,000 lots.

REGIONAL EQUITIES-COLOMBO, Dec 9 (Reuters) - Most Southeast Asian stock markets eked out small gains on Thursday, with Indonesia hitting a record high as local investors snapped up small banks due to hopes of strong earnings in 2011.

Indonesia <.JKSE>, the region's best performer this year with a 49 percent gain, closed 0.4 percent higher at an all-time closing high. The index also hit an intraday peak of 3,788.57, Reuters data showed.

Indonesia's MSCI index <.MIID00000PID> has risen 29.5 percent so far this year. Thailand's MSCI <.MITH00000PTH> index has outperformed the region with a 37.5 percent gain compared to Singapore's <.MISG00000PSG> 8.5 percent, Malaysia's 19.6 percent and the Philippines' 23.1 percent.

Thailand <.SETI>, despite foreign outflows of $6.1 million, rose 1.1 percent in thin volume, while Malaysia <.KLSE> gained 0.7 percent to a one-month high, Singapore <.FTSTI> edged up 0.2 percent and Vietnam <.VNI> added 1.7 percent.

Thursday, December 9, 2010

Trader's Highlight

DJI-NEW YORK, Dec 8 (Reuters) - U.S. stocks edged higher on Wednesday as gains in financial and technology stocks offset declines caused by a recent surge in bond yields.

Bank stocks have risen 10 percent since the start of the month as benchmark yields have climbed enough to make lending and trading more profitable.

The Dow Jones industrial average <.DJI> gained 13.32 points, or 0.12 percent, to 11,372.48. The Standard & Poor's 500 Index <.SPX> gained 4.53 points, or 0.37 percent, to 1,228.28. The Nasdaq Composite Index <.IXIC> gained 10.67 points, or 0.41 percent, to 2,609.16.

NYMEX-NEW YORK, Dec 8 (Reuters) - U.S. crude oil futures prices settled lower on Wednesday for a second straight day as sharp increases in U.S. fuel inventories and the dollar's strength pressured crude after it hit a 26-month peak above $90 a barrel in the previous session.

Although U.S. crude oil stocks fell more than expected, by 3.82 million barrels, according to the U.S. Energy Information Administration, refined products stocks rose sharply.

On the New York Mercantile Exchange, January crude fell 41 cents, or 0.46 percent, to settle at $88.28 a barrel, trading from $87.33 to $88.99.

CBOT-CHICAGO, Dec 8 (Reuters) - Chicago Board of Trade grain and soy complex close on Wednesday.

CBOT-SOYMEAL - December up $2.40 at $345.40 a ton; January up $2.80 at $347.10.

CBOT-SOYOIL - December down 0.41 cent at 53.80 cents per lb; January up 0.38 at 54.18 cents.

FCPO-KUALA LUMPUR, Dec 8 (Reuters) - Malaysian crude palm oil fell on Wednesday for the first time in over a week on a firmer U.S. dollar and weaker technicals, and as traders took profits from the run of gains.

But the market, which has risen 34 percent in 2010, may rally further if more monsoon rains lash oil palm estates in Malaysia and dry weather heightens the risk of a poor South American soy crop, traders said.

A jump in U.S. bond yields boosted the dollar for a second day after President Barack Obama proposed to extend Bush-era tax cuts, fuelling inflation concerns and questions about a stable recovery for the world's largest economy.

The benchmark Feb 2011 crude palm oil contract on the Bursa Malaysia Derivatives Exchange ended 0.4 percent lower at 3,594 ringgit ($1,143) a tonne, easing from a 29-month high hit on Monday.

Traded volume more than doubled to 24,790 lots of 25 tonnes each from the usual 10,000 lots as traders booked profits after a public holiday on Tuesday.

REGIONAL EQUITIES-COLOMBO, Dec 8 (Reuters) - The Indonesian stock market hit an all-time closing high on Wednesday, led by banking shares and helped by foreign buying, but other Southeast Asian markets ended mixed on concerns over euro zone debt and Chinese monetary tightening.

Indonesia <.JKSE>, the region's best performer this year, jumped 1.3 percent to close at 3,769.99, surpassing the previous peak hit on Nov. 10, Reuters data showed.

Singapore <.FTSTI> gained 0.3 percent to a near-three-week high and Malaysia <.KLSE> rose 0.6 percent to its highest since Nov. 11, both in high volume compared with their 90-day average. The Philippines <.PSI> gained 0.6 percent.

Wednesday, December 8, 2010

Trader's Highlight

DJI-NEW YORK, Dec 7 (Reuters) - U.S. stocks eked out a small gain on Tuesday as investors' enthusiasm over a tax cut extension deal was short-circuited by rising bond yields and reports regulators were stepping up an insider-trading probe.

The S&P 500 hit a two-year intraday high after U.S. President Barack Obama forged the deal with Republicans to renew Bush-era tax cuts.

The Dow Jones industrial average <.DJI> dropped 3.03 points, or 0.03 percent, to 11,359.16. The Standard & Poor's 500 Index <.SPX> added 0.63 points, or 0.05 percent, to 1,223.75. The Nasdaq Composite Index <.IXIC> gained 3.57 points, or 0.14 percent, to 2,598.49.

NYMEX-NEW YORK, Dec 7 (Reuters) - U.S. crude oil futures ended lower on Tuesday for the first time in five session as the dollar rose, curbing risk trades, and doubts emerged on whether the reported tax-cut extension deal between Democrats and Republicans would push through.

Investors also booked profits as prices had risen a combined $5.27, or 6.3 percent, in the previous four sessions.

On the New York Mercantile Exchange, January crude settled down 69 cents, or 0.77 percent, at $88.69 a barrel, trading from $88.22 to $90.76, the highest since Oct. 8, 2008, when the intraday peak was $90.99.

CBOT-CHICAGO, Dec 7 (Reuters) - Chicago Board of Trade grain and soy complex futures close on Tuesday.

CBOT-SOYBEANS - January down 3 cents at $12.85-1/28 per bushel. Declines in wheat, crude oil and gold offset support from strong Chinese soy demand and worries about dry weather in Argentina.

CBOT-SOYOIL - December up 0.26 cent at 53.39 cents per lb; January up 0.26 at 53.80 cents. Gaining against soymeal on oil/meal spreads.

FCPO-KUALA LUMPUR, Dec 6 (Reuters) - Malaysian crude palm oil hit a 29-month high on Monday as a weaker dollar spurred risk-taking and on spillover support from wheat prices, which are being bolstered by concerns over Australia's grains output.

The dollar was on the defensive on Monday after the U.S. Federal Reserve said it was open to injecting more funds into the economy.

Palm oil has climbed by more than a third this year, with the biggest weekly gain so far this year last week on bullish forecasts from key industry analysts at an Indonesian conference and erratic weather hitting grains and oilseed regions.

The Malaysian crude palm oil contract jumped 2.8 percent to 3,618 ringgit ($1,150) a tonne, a level unseen since July 4, 2008, before settling at 3,610 ringgit.

Traded volume more than doubled from normal to 27,666 lots at 25 tonnes each on short covering ahead of a Malaysian public holiday on Tuesday.

REGIONAL EQUITIES-COLOMBO, Dec 7 (Reuters) - Thai stocks rose to a four-week high on Tuesday in thin trade, led by energy shares after a jump in oil prices, and some other Southeast Asian markets saw cautious buying due to guarded optimism about the global economy.

Thailand <.SETI>, the region's second-best performer this year, rose 0.6 percent after a long holiday weekend to its highest since Nov. 10, while late buying helped Singapore <.FTSTI> gain 0.3 percent, both in thin volume compared to their 90-day average.

The Philippines <.PSI> dropped 0.6 percent from a one-month high in light trade, with foreign outflows of $7.9 million, while Vietnam <.VNI> fell 1 percent from a two-month high. Both Indonesia <.JKSE> and Malaysia <.KLSE> were closed for holidays.

Monday, December 6, 2010

Trader's Highlight

DJI-NEW YORK, Dec 3 (Reuters) - U.S. stocks closed their best week in a month on Friday, shrugging off tepid jobs growth in a sign that the rally may have further to run.

Stocks gained late in the day after reports that Federal Reserve Chairman Ben Bernanke said in a CBS television interview recorded on Nov. 30 that he does not rule out more than the announced $600 billion in Fed asset purchases. The interview with "60 Minutes" has yet to be televised.

The Dow Jones industrial average <.DJI> rose 19.68 points, or 0.17 percent, to end at 11,382.09. The Standard & Poor's 500 Index <.SPX> added 3.18 points, or 0.26 percent, to 1,224.71. The Nasdaq Composite Index <.IXIC> gained 12.11 points, or 0.47 percent, to close at 2,591.46.

NYMEX-NEW YORK, Dec 3 (Reuters) - U.S. crude oil futures rallied for a third straight day on Friday, hitting the highest settlement level in 25 months on a weaker dollar and as heating oil rose sharply on cold weather.

Oil investors shrugged off a disappointing small increase in jobs created in November, leaning instead on a raft of recent economic indicators, which had signalled the economy was growing, albeit at a slow pace, analysts said.

On the New York Mercantile Exchange, crude for January delivery settled up $1.19, or 1.35 percent, at $89.19. That marked the highest close since Oct. 7, 2008, when front-month crude ended at $90.06.

CBOT-CHICAGO, Dec 3 (Reuters) - Chicago Board of Trade grain and soy complex close on Friday.

CBOT-SOYBEANS - January up 20-1/2 cents at $13.00-1/4 per bushel. Spillover support from soaring wheat with additional support from a lower dollar.

CBOT-SOYOIL - December up 0.61 cent at 53.08 cents per lb; January up 0.61 at 53.45 cents. Support from rally in soybeans.

FCPO-KUALA LUMPUR, Dec 3 (Reuters) - Malaysia palm oil futures rose 0.4 percent on Friday, extending gains for a fifth day, as traders took positions on worries over possible supply shortages and on firmer grain markets.

Industry analyst Dorab Mistry, head of Indian-based Godrej International, said Malaysian palm oil futures will hit 3,600 ringgit ($1,141)in December and January on tight global vegetable oil supplies, driven by underperforming palm oil output in top suppliers Indonesia and Malaysia.

Oil World's Thomas Mielke and LMC Chairman James Fry also said Malaysian palm oil futures are set to rise sharply in the first quarter of 2011 in the three-day conference.

The Malaysian crude palm oil contract was up 16 ringgit to 3,516 ringgit ($1,115) a tonne. Overall traded volume rose to 12,897 lots of 25 tonnes each, compared to the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, Dec 3 (Reuters) - Southeast Asian stock markets were mixed on Friday as investors quickly cashed in gains in big caps, but appetite for resource shares remained firm as positive U.S. economic data boosted hopes for global demand.

Despite the day's losses, equities in the region performed better than last week as some investors covered short positions built up over the past month, dealers said.

The weekly gain was led by Vietnam's <.VNI> 5.55 percent, followed by Thailand's <.SETI> 4.27 percent.

Singapore's Staits Times Index <.FTSTI> finished down 0.8 percent on the day, weighed down by a 1.3 percent fall in Singapore Telecommunications , Southeast Asia's largest telecommunications firm.

Malaysia's main share index <.KLSE> eased 0.2 percent. Indonesia <.JKSE> ended flat, with its central bank keeping its policy rate unchanged as expected.

Tuesday, November 30, 2010

Trader's Highlight

DJI-NEW YORK, Nov 29 (Reuters) - U.S. stocks edged down in a low-volume session on Monday on worries Europe's credit crisis will spread despite a weekend agreement to bail out Ireland.

But stocks finished well off their lows of the day as the dollar retraced some of its earlier gains and energy and financial stocks rallied late in the session.

The Dow Jones industrial average <.DJI> dropped 39.51 points, or 0.36 percent, to 11,052.49. The Standard & Poor's 500 Index <.SPX> fell 1.64 points, or 0.14 percent, to 1,187.76. The Nasdaq Composite Index <.IXIC> lost 9.34 points, or 0.37 percent, to 2,525.22.

NYMEX-NEW YORK, Nov 29 (Reuters) - U.S. crude oil futures rebounded more than 2 percent on Monday, fueled by a rally in gasoline and heating oil futures and geopolitical risks.

U.S. gasoline futures climbed to the highest level since May 5 -- a near seven-month high -- on the spot-continuation chart.

On the New York Mercantile Exchange, crude for January delivery settled up $1.97, or 2.35 percent, at $85.73 a barrel, trading from $83.59 to $85.83, the highest since Nov. 12's $87.85.

CBOT-CHICAGO, Nov 29 (Reuters) - Chicago Board of Trade grain and soy complex close on Monday.

CBOT-SOYMEAL - December down 50 cents at $336.30 a ton. Soyoil/soymeal spreading weighs on soymeal.

CBOT-SOYOIL - December down 0.03 cent at 49.87 cents per lb.
Weighed down by sag in soybeans but talk China was seeking palm oil and rising crude oil prices limit declines.

FCPO-KUALA LUMPUR, Nov 29 (Reuters) - Malaysian crude palm oil futures hit a two-week high on Monday as caution receded after European authorities agreed to bail out Ireland and concerns grew over the weather in oilseed growing regions.

The price of the vegetable oil resumed a rally ahead of a price outlook conference starting in Indonesia on Wednesday from which traders are expecting bullish forecasts.

Benchmark February 2011 palm oil on the Bursa Malaysia Derivatives Exchange rose as much as 112 ringgit, or 3.5 percent, to 3,390 Malaysian ringgit ($1,075) per tonne in the afternoon session before settling at 3,381 ringgit. Traded volumes almost doubled from the usual to 18,360 lots of 25 tonnes each.

REGIONAL EQUITIES-COLOMBO, Nov 29 (Reuters) - Most Southeast Asian stock markets closed firmer on Monday in thin volume as positive sentiment over Ireland's bailout package provided relief, while Thailand gained after a court ruling removed worries there could be a forced change in government.

Risk-averse investors mostly stayed on the sidelines, waiting for clear direction over the euro zone debt crisis and the tension on the Korean peninsula.

Malaysia <.KLSE> gained 0.3 percent after falling as much as 1 percent in early trade, Vietnam <.VNI> rose for a fifth straight session, adding 1.5 percent to a two-week high, while Singapore <.FTSTI> recovered from an early 0.4 percent drop.

Monday, November 29, 2010

Trader's Highlight

DJI-NEW YORK, Nov 26 (Reuters) - Commodity-related shares led U.S. stocks lower on Friday in a shortened post-holiday session, as investors unloaded risky assets on worries that euro-zone debt problems may continue to spread.

The U.S. dollar rallied while the euro slid to a new two-month low amid fears that Portugal and Spain could follow Ireland in needing bailouts to shore up their economies.

The Dow Jones industrial average <.DJI> dropped 95.28 points, or 0.85 percent, to end at 11,092. The Standard & Poor's 500 <.SPX> slipped 8.95 points, or 0.75 percent, to 1,189.40. The Nasdaq Composite <.IXIC> lost 8.56 points, or 0.34 percent, to 2,534.56.

NYMEX-NEW YORK, Nov 26 (Reuters) - U.S. crude oil futures prices settled slightly lower after seesawing in light, post-holiday trading volume on Friday, weighed down by Europe's debt crisis that pushed the euro to a two-month low against the dollar.

But reduced throughput in a Canada-U.S. crude oil pipeline, a refinery snag in Texas and geopolitical tensions helped limit losses by crude oil futures and crude futures prices posted a gain for the week.

On the New York Mercantile Exchange, January crude fell 10 cents, or 0.12 percent, to settle at $83.76 a barrel, trading from $82.78 to $84.53.

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

CBOT-SOYBEANS - January down 16-1/2 cents per bushel at $12.38-1/2. Higher dollar, lower crude oil and lower equities weigh on market with further pressure from news China will be auctioning soybeans on Dec. 3.

CBOT-SOYOIL - December down 0.34 cent per lb at 49.90. Following soybeans, with lower crude oil also weighing.

FCPO-KUALA LUMPUR,Nov 26 (Reuters) - Malaysian palm oil futures fell on Friday as a stronger dollar prompted some profit taking although concerns over the monsoon hurting output limited losses.

Strong China demand for U.S. soybeans, which are crushed into oils, supported vegetable oil markets amid the government's call for banks to support the agriculture sector facing shortages in corn and other crops.

The benchmark February 2011 crude palm oil contract on the Bursa Malaysia Derivatives Exchange shed 0.4percent to 3,264 Malaysian ringgit ($1,042) per tonne by midday. The market jumped to its highest in three days the previous day. Traded volume stood at 5,300 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, Nov 26 (Reuters) - Most Southeast Asian stock markets fell on Friday in light volume, with Philippine shares leading losses this week as regional economic growth slows, but appetite for newly listed firms appeared healthy.

Manila's main index <.PSI> shed 1.07 percent, at one point hitting a two-month low, after the Philippine economy unexpectedly contracted in the third quarter, raising concerns of slowing corporate earnings growth.

Singapore <.FTSTI> and Malaysia <.KLSE> both snapped two days of gains. Thailand's SET index <.SETI> fell for a third straight session to a one-week low, while Indonesia's index <.JKSE> lost almost 2 percent, reversing its previous session's gains.

In Kuala Lumpur, newly listed Petronas Chemicals shares ended 5.4 percent higher than the offered retail price of 5.04 ringgit. The stock jumped over 13 percent in early trade as investors piled into the $4.1 billion IPO, Southeast Asia's largest ever. Its sheer size is a sign that demand for Asian stocks remains firm despite jittery global markets.

Thursday, November 25, 2010

Trader's Highlight

DJI-NEW YORK, Nov 24 (Reuters) - Wall Street rallied as U.S. stock investors put aside worries about swirling global problems on Wednesday, turning to improvement in the labor market and signs consumers are ready to open their wallets ahead of the biggest shopping day of the year.

New claims for unemployment benefits hit their lowest level in more than two years last week while consumer spending rose for a fourth straight month in October, suggesting the economy is nearing a self-sustaining recovery.

The Dow Jones industrial average <.DJI> jumped 150.91 points, or 1.37 percent, to 11,187.28. The Standard & Poor's 500 Index <.SPX> rose 17.62 points, or 1.49 percent, to 1,198.35. The Nasdaq Composite Index <.IXIC> gained 48.17 points, or 1.93percent, to 2,543.12.

NYMEX-NEW YORK, Nov 24 (Reuters) - Oil prices rose more than 3 percent on Wednesday, lifted by data that suggested economic recovery is improving and by pre-Thanksgiving holiday short covering.

While U.S. crude inventories rose last week against expectations they would fall, the rise in the government's weekly inventory report was less than the jump industry reported on Tuesday, leaving brokers and analysts relieved.

On the New York Mercantile Exchange, January crude rose $2.61, or 3.21 percent, to settle at $83.86 a barrel, trading from $80.97 to $84.25. The day's peak was reached in post-settlement data.

CBOT-CHICAGO, Nov 24 (Reuters) - Chicago Board of Trade grain and soy complex close on Wednesday.

CBOT-SOYBEANS - January up 16 cents per bushel at $12.55. Brisk demand for cash soy including news of a huge sale of U.S. soy to China and support from concerns about dry weather in portions of South America's crop region. Also support from a rebound in corn futures and a technical bounce after the recent slide in prices.

CBOT-SOYOIL - December up 1.02 cents per lb at 50.24. Spillover support from higher soybeans and supportive U.S. Census Bureau crush report.

FCPO-KUALA LUMPUR, Nov 24 (Reuters) - Malaysian palm oil futures rebounded from three-week lows on Wednesday on the back of a firmer overseas soy complex and expectations of strong overseas demand.

U.S. soy <0#S:> and soyoil futures <0#BO:> rose during Asian trading hours, driven by strong commercial buying and output pressure due to drier weather in Latin America.

The benchmark Feb. 2011 crude palm oil contract jumped as much as 3 percent earlier in the day, before paring some gains to close trade at 3,168 ringgit ($1,013). Overall traded volume was 7,200 lots of 25 tonnes each, compared to the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, Nov 24 (Reuters) - Most Southeast Asian stock markets regained lost ground on Wednesday a day after sell-offs triggered by Korean tension.

Singapore <.FTSTI> finished up 0.34 percent, reversing a 2 percent drop to a three-week low on Tuesday, as investors built up positions along with recovering Asian bourses, while Malaysia <.KLSE> gained its lost ground to end nearly unchanged.

Among gainers in the region, Singapore's casino operator Genting Singapore rose as much as 3 percent on bargain hunting after its recent sell-off made its valuation more attractive while Malaysian financial firm CIMB Group Holdings rose 0.4 percent.

Tuesday, November 23, 2010

Breaking News-RTRS - China to expand soyoil, soymeal futures trading limits, margin

BEIJING, Nov 22 (Reuters) - Daily trading limits for soyoil and soymeal futures on the Dalian Commodity Exchange will be expanded from Tuesday's settlement, the bourse said on Monday.
The upper and lower limits for the contracts would be expanded to 5 percent from 4 percent, while the trading margin would be lifted to 7 percent from 5 percent, the exchange said in a statement published on its website.
The move, aimed at preventing speculation and big fluctuations in futures prices, was likely to have little impact on the prices, which have been falling since earlier this month on concern over China's monetary tightening measures following surges in agricultural commodities prices, said analysts.

Trader's Highlight

DJI-NEW YORK, Nov 22 (Reuters) - Bank shares weighed on Wall Street on Monday as Europe's smoldering debt crisis and fears of an insider trading probe in the United States sapped buying interest for most of the session.

But the Nasdaq fared better than the Dow and the S&P 500 after upgrades to chipmaker SanDisk Corp and chip-gear makers Amkor Technology Inc and Teradyne Inc .

The Dow Jones industrial average <.DJI> fell 24.97 points, or 0.22 percent, to 11,178.58. The Standard & Poor's 500 Index <.SPX> dipped 1.89 points, or 0.16 percent, to 1,197.84. But the Nasdaq Composite Index <.IXIC> gained 13.90 points, or 0.55 percent, to 2,532.02.

NYMEX-NEW YORK, Nov 22 (Reuters) - U.S. crude oil futures ended lower on Monday as euro slumped and the dollar strengthened due to uncertainty about how Ireland's debt bailout would be carried out.

Investors feared that financial problems may also affect
other euro zone countries saddled with debt. On the New York Mercantile Exchange,January crude settled 24 cents lower, or 0.29 percent, at $81.74, trading from $80.68 to $82.87.

On the New York Mercantile Exchange, January crude settled 24 cents lower, or 0.29 percent, at $81.74, trading from $80.68 to $82.87.

CBOT-CHICAGO, Nov 22 (Reuters) - Chicago Board of Trade grain and soy complex close on Monday.

CBOT-SOYBEANS - January up 20 cents per bushel at $12.21-1/2. Supported by short-covering after the steep slide of prices on Friday and mounting concerns about dryness in Argentina. News Ireland would receive a bailout initially viewed as supportive as the dollar sagged but the dollar then turned firm.

CBOT-SOYOIL - December up 0.22 cent per lb at 49.18. Strength in soybeans offsets spillover weakness from a fall in Malaysian and Dalian palm oil futures.

FCPO-KUALA LUMPUR, Nov 22 (Reuters) - Malaysian palm oil futures slid 4.4 percent on Monday after China's central bank stepped up controls on money supply and credit last week, a move that may limit the country's demand for vegetable oils.

China's central bank said on Friday it will raise cash reserve requirements on banks for the second time in two weeks, stepping up its battle to rein in prices before inflation has a chance to take off.

The benchmark Feb. 2011 Malaysia palm oil contract fell as much as 147 ringgit to 3,179 ringgit ($1,021) per tonne before settling at 3,184 ringgit. Traded volume more than doubled to 20,887 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, Nov 22 (Reuters) - Most Southeast Asian stock markets ended slightly lower on Monday, with concerns over China's policies weighing on Singapore's property shares and dampening sentiment in regional palm plantation stocks.

Across the region, risk aversion generally faded after global financial authorities agreed to save debt-swamped Ireland and safeguard Europe's wider financial stability, with Indonesia <.JKSE> reversing early losses to end 0.4 percent higher.

Singapore <.FTSTI> and Malaysia <.KLSE> each eased 0.2 percent, regaining early lost ground. The Philippines <.PSI> fell 0.4 percent and Vietnam <.VNI> slid 0.08 percent, after earlier dropping to 16-month lows.

In Singapore, property shares fell after China and Hong Kong took steps to cool their property markets, with City Developments down 3.2 percent and CapitaLand 0.8 percent lower.

Amongst losers, Malaysia's second largest palm oil conglomerate IOI Corp fell 0.3 percent and Singapore's Wilmar International Ltd slid 0.5 percent.

Monday, November 22, 2010

Trader's Highlight

DJI-NEW YORK, Nov 19 (Reuters) - Hopes Ireland's debt crisis will soon be resolved lifted investor sentiment and the euro on Friday even as U.S. oil prices slid after China sought to curb inflation for the second time in two weeks.

Wall Street rebounded late in the session, pulling along global stocks, on a rally in semiconductors. But the broad U.S. market finished just below a key psychological level, a sign shares could trade in a tight range through year's end.

On Wall Street, the Dow Jones industrial average <.DJI> was up 22.32 points, or 0.20 percent, at 11,203.55. The Standard & Poor's 500 Index <.SPX> was up 3.04 points, or 0.25 percent, at 1,199.73. The Nasdaq Composite Index <.IXIC> was up 3.72 points, or 0.15 percent, at 2,518.12.

NYMEX-NEW YORK, Nov 19 (Reuters) - U.S. crude oil futures fell for the fifth session in six on Friday, wrapping up a second straight week of losses, as China increased bank reserve requirements to fight high inflation.

China's move, seen likely to temper consumption in the world's second largest oil consumer, spurred further speculation that it might increase interest rates.

On the New York Mercantile Exchange, crude for December delivery expired at the close and settled 34 cents lower, or 0.42 percent, at $81.51 a barrel, after trading from $80.59 to $82.75.

CBOT-CHICAGO, Nov 19 (Reuters) - Chicago Board of Trade grain and soy complex close on Friday.

CBOT-SOYBEANS - January down 40-1/2 cents per bushel at $12.01-1/2. Nervous profit-taking after the big rally on Thursday. China's plans to rein in food inflation and news China will be selling vegoils from reserves adding pressure.

CBOT-SOYOIL - December down 1.96 cents per lb at 48.96. News China plans to sell vegoils from reserves weighing on soyoil futures.

FCPO-KUALA LUMPUR, Nov 19 (Reuters) - Malaysian palm oil edged higher on Friday as anxieties over Irish debt crisis eased a little, although gains were limited by a likelihood of China interest rates hike.

But the market is still set to post its first weekly loss since September, driven earlier by some technical selling and concern Malaysian palm oil exports in the second half of November may slow on the recent strength in the U.S. dollar.

The benchmark Feb 2011 palm oil on the Bursa Malaysia Derivatives Exchange ended 8 ringgit up at 3,326 ringgit ($1,068) per tonne in choppy trade. Overall trade volumes more than doubled to 22,335 lots at 25 tonnes each.

REGIONAL EQUITIES-COLOMBO, Nov 19 (Reuters) - Most Southeast Asian stock markets closed firmer on Friday as foreign inflows picked on easing concerns over the euro zone debt crisis.

Thailand <.SETI> saw the year's largest foreign inflows with $186 million, helping nudge the market up 0.4 percent following outflows of $318.7 million in six sessions through Wednesday.

Malaysia <.KLSE> rose 0.6 percent, led by financials with a 1.6 percent rise in Malayan Banking. Bucking the trend Singapore <.FTSTI> lost 0.6 percent on worries of possible rate increases in China and regional price controls.

Thursday, November 18, 2010

Breaking News-RTRS - China plans price controls to tackle food inflation

BEIJING, Nov 16 (Reuters) - China will unveil food price controls and crack down on speculation in agricultural commodities to contain inflationary pressure that its central bank governor highlighted as a risk on Tuesday.
With consumer prices rising at their fastest pace in more than two years, the National Development and Reform Commission, the country's top planning agency, is preparing a "one-two punch" of actions to rein in food costs, official media reported.
Such direct intervention would mark an escalation of the government's efforts to tame inflation and underline its worries over the rapid run-up in food prices.

Trader's Highlight

DJI-NEW YORK, Nov 17 (Reuters) - The S&P 500 and Nasdaq indexes were modestly higher on Wednesday, led by gains among retailers after a bullish outlook from Target, but Europe's debt crisis kept investors cautious.

Discount chain Target Corp jumped nearly 4 percent to $55.62 after it forecast its best same-store sales in three years during the upcoming holiday season. The outlook sparked a 1 percent rise in the S&P retail index <.RLX>.

The Dow Jones industrial average <.DJI> was down 0.03 points, or 0.00 percent, at 11,023.47. The Standard & Poor's 500 Index <.SPX> was up 2.48 points, or 0.21 percent, at 1,180.82. The Nasdaq Composite Index <.IXIC> was up 13.91 points, or 0.5percent, at 2,483.75.

NYMEX-NEW YORK, Nov 17 (Reuters) - U.S. crude oil futures settled
on Wednesday at their lowest in four weeks on persistent concerns that China will take steps to cool inflation, curbing demand from the world's biggest economic growth engine.

Crude prices fell for a fourth straight session as worries about euro zone debt and Europe's economy added to doubts about oil demand. Prices came under early pressure from a stronger dollar, but the U.S. currency later weakened.

On the New York Mercantile Exchange, December crude fell $1.90, or 2.31 percent, to settle at $80.44 a barrel, the lowest close since Oct. 19's $79.49.

CBOT-CHICAGO, Nov 17 (Reuters) - Chicago Board of Trade grain
and soy complex close on Wednesday.

CBOT-SOYBEANS - January down 14-3/4 cents per bushel at
$12.05. Long-liquidation weighed as did falling soyoil in step with
a drop in crude oil.

CBOT-SOYOIL - December down 1.03 cents per lb at 48.94. Pressure from lower crude oil.

FCPO-KUALA LUMPUR, Nov 16 (Reuters) - Palm oil and soyoil markets tumbled on Tuesday after China unveiled plans to impose food price controls and tame inflation that has accelerated in the world's No. 2 importer of vegetable oils.

Traders say China's plan to also crack down on speculation in agriculturalcommodities could be a precursor to an interest rate hike to cool food driven inflation in the Asia country. [ID:nTOE6AF03I]

Malaysian palm oil fell as much as 3.3 percent to more than one-week lows of 3,260 ringgit ($1,040) per tonne -- a level unseen since Nov. 4.

U.S. soyoil gave up 2.5 percent, while China's most active Sept 2011 contract on the Dalian Commodity Exchange closed 2 percent lower in volatile trade.

REGIONAL EQUITIES-COLOMBO, Nov 17 (Reuters) - Southeast Asian stock markets closed weaker on Wednesday, continuing a losing trend on foreign outflows, worries over euro zone debt, fears of a rise in Chinese interest rates and talk over capital controls.

Foreign selling hit Thailand and the Philippines as foreign institutions cashed in profits, although local retail investors were on the buying side.

Indonesia is trading at a 15.5 forward price-to-earnings ratio, below all-Asia's 13.3and richer than Thailand's 12.1. The Philippines is trading at 13.3, while Singapore and Malaysia are trading at 14.0 and 14.1 respectively, Thomson Reuters StarMine data showed.

Tuesday, November 16, 2010

Trader's Highlight

DJI-NEW YORK, Nov 15 (Reuters) - U.S. stocks slipped on Monday as concerns the Federal Reserve may scale back its efforts to stimulate the economy muted optimism over two big takeover bids.

The S&P 500 held above its 20-day moving average, now near 1,196 and marking a potential support level, though the index closed slightly lower.

The Dow Jones industrial average <.DJI> edged up 9.39 points, or 0.08 percent, at 11,201.97. The Standard & Poor's 500 Index <.SPX> was off 1.46 points, or 0.12 percent, to 1,197.75. The Nasdaq Composite Index <.IXIC> slipped 4.39 points, or 0.17percent, to 2,513.82.

NYMEX-NEW YORK, Nov 15 (Reuters) - U.S. crude oil futures ended lower on Monday, dragged down by a late selloff in gasoline futures on talk of the restart of a large New Jersey refinery.

Worries about euro-zone debt, which caused the dollar to hit six-week highs, also pressured crude oil futures.

The trader talk focused on ConocoPhillips' 238,000 barrel per day refinery in Bayway, N.J. The refinery was shut n late September for major maintenance but has had several power outages during the work which had delayed the restart.

On the New York Mercantile Exchange, crude for December delivery settled down 2 cents, or 0.02 percent, at $84.86 a barrel, slipping from an early high of $85.77. It posted the day's low at $84.60.

CBOT-CHICAGO, Nov 15 (Reuters) - Chicago Board of Trade grain and soy complex close on Monday.

CBOT-SOYBEANS - January up 17-1/2 cents per bushel at
$12.86-1/2. Technical bounce after the limit-down close of soy futures on Friday due to talk China would raise interest rates over the weekend. Big soy crush number in NOPA monthly report also supportive.

CBOT-SOYOIL - December down 0.06 cent per lb at 52.47. Meal/oil spreading weighs on soyoil.

FCPO-KUALA LUMPUR, Nov 15 (Reuters) - Malaysian crude palm oil futures rebounded on Monday, as strong exports data outweighed concerns over China raising interest rates that kept the market on edge.

Malaysian palm oil exports jumped at least 26.6 percent for Nov. 1-15 versus a month ago, driven by stronger demand from China and the European Union.

The benchmark January 2011 contract on the Bursa Malaysia Derivatives Exchange crawl back up half a percent to 3,370 Malaysian ringgit ($1,084) per tonne, after easing from a 27-month high on Friday. Overall traded volume more than doubled to 23,282 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, Nov 15 (Reuters) - Most Southeast Asian stock markets fell on Monday, as investors hugged the sidelines on renewed concerns over European debt problems and growing expectations of an interest rate rise in China.

Indonesia is trading at a 15.4 forward price-to-earnings ratio, richer than all-Asia's 13.6 times and more expensive than Thailand's 12.5. The Philippines is trading at 13.4, while Singapore is at 14.2 and Malaysia is trading at 14.1, Thomson Reuters StarMine data showed.

Monday, November 15, 2010

Trader's Highlight

DJI-NEW YORK, Nov 12 (Reuters) - U.S. stocks fell on Friday as inflation worries in China prompted investors to book profits and reassess whether to keep their bullish positions.

Reflecting the concerns, the CBOE Volatility Index <.VIX> jumped 10.8 percent to 20.66, the first time for the index to rise above 20 in over a week. The CBOE Nasdaq 100 Volatility Index <.VXN> also surged 16.4 percent to 22.55.

The Dow Jones industrial average <.DJI> dropped 106.83 points, or 0.95 percent, to 11,176.27. The Standard & Poor's 500 Index <.SPX> fell 16.13 points, or 1.33 percent, to 1,197.41. The Nasdaq Composite Index <.IXIC> slid 37.25 points, or 1.46 percent, to 2,518.27.

NYMEX-NEW YORK, Nov 12 (Reuters) - U.S. crude oil futures ended down more than 3 percent on Friday, as talk that China may raise interest rates triggered profit-taking after gains of almost 8 percent in two weeks.

Euro zone debt worries and a report from the Paris-based International Energy Agency, which trimmed its 2011 demand forecast, added pressure.

On the New York Mercantile Exchange, crude for December delivery settled down $2.93, or 3.34 percent, at $84.88 a barrel, having traded from $84.52 to $87.85. Volume was heavy, exceeding the 30-day average by about 11 percent, preliminary Reuters data showed.

CBOT-CHICAGO, Nov 12 (Reuters) - Chicago Board of Trade grain and soy complex futures close on Friday.

CBOT-SOYBEANS - January down 70 cent per bushel limit at $12.69; spot November , expired down 67-1/4 at $12.63. January contract dropped 5 percent to one-week low, hit by China rate-hike worries. Soy was technically overbought and due for a correction.

CBOT-SOYOIL - December down 2.50 cents per lb limit at 52.53 cents per lb. Retreating after extending a 26-month high on continuous price charts, pressured by talk of China may raise interest rates.

FCPO-KUALA LUMPUR, Nov 12 (Reuters) - Malaysian crude palm oil futures tumbled 2.7 percent on Friday amid a sell-off in commodities led by industrial metals and crude oil.

In the first 10 minutes of trade, benchmark January 2011 contract on the Bursa Malaysia Derivatives Exchange fell as much as 2.7 percent to 3,305 ringgit ($1,063.7).

Other vegetable oil markets also fell, pressured mostly by the stronger U.S. dollar as Ireland's fiscal problems gripped financial markets.

REGIONAL EQUITIES-BANGKOK, Nov 12 (Reuters) - Southeast Asian stock markets fell on Friday, led by commodities and banking shares, as investors took profits amid a broad retreat from risky assets.

In addition to increased risk-aversion, a rebound in the U.S. dollar and worries over capital controls dragged on regional indexes.

Malaysia <.KLSE> and Indonesia <.JKSE> both set record highs early this week but lost 0.9 percent and 2.1 percent respectively on Friday.

Singapore lender Oversea-Chinese Banking Corp slid 2.5 percent and Malaysian power producer Tenaga Nasional fell more than 1 percent to a four-month low.

Friday, November 12, 2010

Trader's Highlight

DJI-NEW YORK, Nov 11 (Reuters) - U.S. stocks declined on Thursday, led by technology losses as Cisco Systems Inc's weak outlook fueled worries that economic softness will hurt corporate profits.

Cisco lost 16 percent to $20.57 after the Internet network product provider's chief executive cautioned about "short-term challenges" in Europe and U.S. public-sector spending. Cisco forecast revenue and earnings below estimates late Wednesday.

Analysts saw the outlook as worrisome, particularly since profit growth for technology companies has outperformed the broader S&P 500 this earnings period and since Cisco's report came about a month after other top tech names reported.

The Dow Jones industrial average <.DJI> was down 61.19 points, or 0.54 percent, at 11,295.85. The Standard & Poor's 500 Index <.SPX> was down 4.12 points, or 0.34 percent, at 1,214.59. The Nasdaq Composite Index <.IXIC> was down 20.60 points, or 0.80 percent, at 2,558.18.

NYMEX-NEW YORK, Nov 11 (Reuters) - U.S. crude futures settled unchanged on Thursday, pulling back from a 25-month peak above $88 a barrel, as initial support from record Chinese demand in October and a demand forecast boost from OPEC was offset by pressure from the stronger dollar.

Thursday's early price jump followed Wednesday's U.S. Energy Information Administration report that revealed domestic crude oil inventories fell sharply last week, against expectations of a stock build, with refined products stocks falling more than expected.

On the New York Mercantile Exchange, December crude settled unchanged at $87.81 a barrel, trading from $87.54 to $88.63, the highest price since $89.82 was reached on Oct. 9, 2008.

CBOT-CHICAGO, Nov 11 (Reuters) - Chicago Board of Trade grain and soy complex close on Thursday.

CBOT-SOYBEANS - November up 20-3/4 cents at $13.30-1/4 per bushel; January up 19-1/2 at $13.39. Rally led by deferred contracts after Informa Economics forecast a drop in U.S. soybean plantings for 2011. Additional support from continued brisk demand for U.S. soybeans, especially by China, and from USDA's cut this week in its estimate for U.S. 2010/11 soybean ending stocks.

CBOT-SOYOIL - December up 1.08 cents at 55.03 cents per lb. Boosted by rallying soybeans and spot contract climbed to a fresh 26-month high. Contract highs hit in all contracts after December

FCPO-KUALA LUMPUR, Nov 11 (Reuters) - Malaysian palm oil futures hit fresh two-year highs on Thursday as traders took positions on cues from upbeat global commodity markets and fears of heavy rains affecting output.

Global commodities markets surged after inflation concerns stoked by data from China drew investors to physical assets as a way to protect wealth.
Malaysia's OSK financial group raised its CPO price estimates in 2010 and 2011 to 2,700 ringgit per tonne, compared with 2,500 ringgit made earlier, based on strong stocks level in first quarter next year that may not hold past mid-2011 due to a bumper crop.

Crude reached a 25-month high in Asian hours as strong industrial output sent demand in China to a record and a surplus subsided in top consumer the United States.

U.S. soyoil for December inched up during Asian trade hours, driven by firmer soybean that underpinned demand from China, the world's biggest importer.

REGIONAL EQUITIES-BANGKOK, Nov 11 (Reuters) - Most Southeast Asian stock markets fell on Thursday as investors booked quick profits from recent gains, with Indonesia and Malaysia both pulling back from record peaks.

Indonesia's main index <.JKSE> finished 0.3 percent lower. It climbed to a fresh intraday high at one stage, helped by demand for commodity shares. Malaysia <.KLSE>, which hit a record on Wednesday, fell 0.9 percent due to selling in banks.

Authorities in Indonesia and Malaysia were again suspected of entering the foreign exchange market to prevent their currencies from strengthening too rapidly. Dealers were still scrambling in the Philippines to cover short dollar positions after the central bank engineered a dollar shortage last week.

Thursday, November 11, 2010

Trader's Highlight

DJI-NEW YORK, Nov 10 (Reuters) - U.S. stocks advanced on Wednesday as investors put the previous day's uncertainty aside and snapped up some of the week's biggest losers in renewed optimism the rally remains intact.

Banks, which lost 3 percent over the past two sessions, rebounded. The S&P 500 Financials index <.GSPF> gained 1.4 percent and was the best performer of the S&P 500's top 10 sectors.

The Dow Jones industrial average <.DJI> rose 10.29 points, or 0.09 percent, to end at 11,357.04. The Standard & Poor's 500 Index <.SPX> gained 5.31 points, or 0.44 percent, to 1,218.71. The Nasdaq Composite Index <.IXIC> advanced 15.80 points, or 0.62 percent, to close at 2,578.78.

NYMEX-NEW YORK, Nov 10 (Reuters) - U.S. crude oil futures prices rose to a 25-month high on Wednesday, pushing above $88 a barrel intraday, as government data showed crude oil inventories fell sharply last week, against expectations stocks would rise.

U.S. Energy Information Administration data showed that domestic crude inventories fell 3.3 million barrels last week, against a forecast for a 1.4 million barrel increase.

On the New York Mercantile Exchange, December crude rose $1.09, or 1.26 percent, to settle at $87.81 a barrel, the highest since front-month crude closed at $88.95 on Oct. 8, 2008. Wednesday's trading range was from $86.10 to $88.21, posting the intraday high in post-settlement trading.

CBOT-CHICAGO, Nov 10 (Reuters) - Chicago Board of Trade grain and soy complex futures close on Wednesday.

CBOT-SOYBEANS - November down 9-3/4 cents at $13.09-1/2 per bushel; January down 9-1/2 at $13.19-1/2. Firm dollar and profit-taking after the strong rally on Tuesday combine to weigh on market. Soybeans technically overbought and due for a downward correction.

CBOT-SOYOIL - December up 0.55 cent at 53.95 cents per lb. Turned higher, supported by an upturn in crude oil and strong global vegoil markets.

FCPO-KUALA LUMPUR, Nov 10 (Reuters) - Malaysian crude palm oil futures extended their rally into a fifth day as heavy rain in palm growing areas of the country was expected to curb production.

The benchmark Malaysia crude palm oil contract closed up about 1 percent at 3,393 ringgit ($1,089). It had hit a fresh two-year high of 3,410 ringgit in morning trade. before falling on concerns of poor demand and a firmer dollar.

Some planters said Malaysia's palm oil production may fall 5-10 percent each month for November and December as heavy rains curb yields and floods make transportation of the vegetable oil difficult.

Palm oil exports data from key export surveyors was also mixed, leading to volatile trading.

Exports of Malaysian palm oil products fell 1.1 percent to 390,534 tonnes for the first 10 days of November, according to cargo surveyor Intertek Testing Services.

The other key cargo surveyor Societe Generale de Surveillance, however, said exports of Malaysian palm oil products for Nov. 1-10 rose 1 percent to 386,762 tonnes from 382,828 tonnes shipped from Oct. 1-10.

Malaysia's October palm oil stocks rose 4.9 percent to a 10-month highs of 1,792,840 tonnes, industry regulator Malaysian Palm Oil Board said on Wednesday. Overall traded volume more than doubled to 29,471 lots of 25
tonnes each.

REGIONAL EQUITIES-BANGKOK, Nov 10 (Reuters) - Malaysian and Indonesian shares both rose for a fifth session to all-time highs on Wednesday, led by gains in big-cap banks, while most others in the region suffered profit-taking after recent gains.

Trading sentiment in Southeast Asian sharemarkets was generally lukewarm as the strong U.S. dollar dulled appetite for risk assets. The dollar index <.DXY> rose as high as 77.88 on the day, a level it last touched in late October.

Malaysia's main share index <.KLSE> inched up 0.1 percent to a record closing high of 1,528.01. It climbed to a record intraday high of 1,531.99 at one point as investors continued to move cash into stocks, a Kuala Lumpur-based dealer said.

Among financial outperformers, Malaysia's Hong Leong Bank rose 4.7 percent while Indonesia's PT Bank International Indonesia surged 25 percent.

Late selling pulled Thai shares off <.SETI> their highest level in more than 14 years while Singapore's Straits Times Index <.FTSTI> dropped 0.7 percent, pausing after climbing to a 34-month high on Tuesday, pulled lower by weaknesses in commodity stocks.

A worse-than-expected result for Singapore's Wilmar International , the world's biggest listed palm oil plantation firm, triggered profit-taking in the stock and its commodity peers, dealers said. [ID:nSGE6A804R]

Wilmar dropped 5.4 percent. Olam International fell 3 percent while Golden Agri-Resources lost 2.6 percent. Buying interest in palm oil shares had helped push Singapore to multi-year highs amid price optimism.

Wednesday, November 10, 2010

Trader's Highlight

DJI-NEW YORK, Nov 9 (Reuters) - Wall Street fell for a second day on Tuesday as selling accelerated into the close, led by sharp losses in bank and metal stocks.

In a market ripe for profit-taking, sellers had a number of triggers late in the session to unload shares. The biggest negatives were a sudden decline in the euro and a late-day slump in the Treasury market.

Financial stocks, which were already soft, were hit harder as interest rates rose late in the day. Metals and energy stocks, which had been the standout performers, gave up earlier gains after the price of several commodities suddenly fell from lofty levels.

The Dow Jones industrial average <.DJI> slid 60.09 points, or 0.53 percent, to 11,346.75. The Standard & Poor's 500 Index <.SPX> dropped 9.85 points, or 0.81 percent, to 1,213.40. The Nasdaq Composite Index <.IXIC> lost 17.07 points, or 0.66 percent, to close at 2,562.98.

NYMEX-NEW YORK, Nov 9 (Reuters) - U.S. crude oil futures fell on Tuesday on profit-taking, ending a six-day winning streak, during which prices rose nearly 7 percent.

Crude oil earlier in the day hit a fresh two-year high but then came under pressure from a resurgent dollar.

On the New York Mercantile Exchange, crude for December delivery settled down 34 cents, or 0.39 percent, at $86.72 a barrel, after trading from $86.38 to $87.63, the highest intraday price for front-month crude since Oct. 9, 2008, when the day's peak hit $89.82.

CBOT-CHICAGO, Nov 9 (Reuters) - Chicago Board of Trade grain and soy complex futures close on Tuesday.

CBOT-SOYBEANS - November up 54-3/4 cents at $13.19-1/4 per bushel; January up 54-1/4 at $13.29. Market boosted by a surprise reduction in USDA's estimate of the U.S. 2010 soybean crop and bullish ending stocks data in USDA's November supply/demand reports. Additional support from weak dollar and broad strength in commodities.

CBOT-SOYOIL - December up 1.39 cents to 53.40 cents per lb. Rose to highest spot price in more than 26 months on spillover strength from soybeans and soaring global vegoil markets.

FCPO-KUALA LUMPUR, Nov 9 (Reuters) - Malaysian crude palm oil futures rose nearly 3 percent to touch a fresh two-year high on Tuesday, supported by gains across the commodity markets.

January 2011 palm futures on the Bursa Malaysia Derivatives Exchange rose 90 ringgit to 3,363 ringgit ($1,076) after touching a more than two-year high of 3,372 ringgit earlier in the day -- a level unseen since July 2008. Overall traded volume almost doubled to 19,963 lots of 25 tonnes.

Traders, who are awaiting official data on Malaysia's palm oil production, stocks, imports and exports due on Wednesday, said prices of the vegetable oil are likely to stay firm despite a poll showing that the stocks level may hit new highs.

REGIONAL EQUITIES-BANGKOK, Nov 9 (Reuters) - Indonesian shares set an all-time high on Tuesday, helped by demand for coal miners, but the region turned generally cautious, worrying that any sustained U.S. dollar rebound may cap demand for Asian risk assets.

Thai stocks <.SETI> eased 0.2 percent after an early climb to a more-than-14-year high. The Philippine index <.PSI> fell 0.7 percent to a one-week low and Vietnam <.VNI> dropped 1.7 percent.

Singapore's main index <.FTSTI> and Malaysia <.KLSE> each gained around 0.4 percent to their highest level in around 34 months.

In Kuala Lumpur, buying interest shifted to financials, with top lender Malayan Banking Bhd rising over 2 percent, while palm oil firm IOI Corp Bhd fell 0.5 percent after hitting a two-year high on Monday.

Nomura International (Hong Kong) Limited said it was bullish on Malaysia.

Tuesday, November 9, 2010

Trader's Highlight

DJI-NEW YORK, Nov 8 (Reuters) - Wall Street retreated from a two-year high on Monday, weighed down by financial stocks and a stronger dollar.

The broad S&P 500 has risen five straight weeks, supported by the Federal Reserve's plan to buy $600 billion of Treasuries to lower interest rates and reinvigorate a sluggish economy.

With those gains, traders said most S&P sectors were susceptible to a decline. Financial stocks <.GSPF>, the top gainers in recent sessions, fell 0.8 percent following a 6.9 percent weekly advance.

The Dow Jones industrial average <.DJI> was down 37.24 points, or 0.33 percent, at 11,406.84. The Standard & Poor's 500 Index <.SPX> was down 2.60 points, or 0.21 percent, at 1,223.25. The Nasdaq Composite Index <.IXIC> was up 1.07 points, or 0.04 percent, at 2,580.05.

NYMEX-NEW YORK, Nov 8 (Reuters) - U.S. crude oil futures ended at a fresh two-year high on Monday, gaining for the sixth consecutive session, as the upside momentum that lifted oil prices more than 6 percent last week continued, analysts said.

Gains were limited, however, as the dollar rose against a basket of currencies. <.DXY>, they added.

On the New York Mercantile Exchange, crude for December delivery settled up 21cents, or 0.24 percent, at $87.06 a barrel, the highest since front-month crude closed at $88.95 on Oct. 8, 2008.

CBOT-CHICAGO, Nov 8 (Reuters) - Chicago Board of Trade grain and soy complex close on Monday.

CBOT-SOYBEANS - November down 9 cents per bushel at $12.64-1/2per bushel; January down 9-1/4 at $12.74-3/4.

Pressured by firm dollar and long liquidation ahead of USDA's November crop reports on Tuesday. Market technically overbought and due a downward correction but continued strong demand from China underpins values.

CBOT-SOYOIL - December down 0.21 cent per lb at 52.01 cents per lb. Following soybeans lower. But market underpinned by soaring global vegoils markets including Dalian soyoil and Malaysian palm.

FCPO-KUALA LUMPUR, Nov 8 (Reuters) - Malaysian crude palm oil futures jumped more than 4 percent in early trade on Monday, driven by supply worries stoked by floods in some palm growing states in the country and rising soyoil prices in China.

January 2011 palm futures on the Bursa Malaysia Derivatives Exchange were up 2.6 percent at 3,273 ringgit ($1,060) a tonne, after having risen as high as 3,348 ringgit -- a level unseen since July 18, 2008.

Top analyst from Godrej International, Dorab Mistry, on Sunday said Malaysian crude palm oil futures may hit 3,300 ringgit per tonne in the next few weeks as weather concerns plague global oilseed output.

REGIONAL EQUITIES-BANGKOK, Nov 8 (Reuters) - Most Southeast Asian stock markets gained ground on Monday, buoyed by commodities shares on optimism about the outlook for oil prices and for global demand.

Strong buying interest bolstered the laggard Singapore stock market, pushing the benchmark Straits Times Index (STI) <.FTSTI> to a 34-month high before it closed nearly 2 percent higher.

Singapore shares have risen 13.9 percent this year, a far cry from over 40 percent gains by its smaller peers Indonesia <.JKSE>, Thailand <.SETI> and the Philippines <.PSI>.

Malaysia <.KLSE> rose 0.5 percent to its highest in 34 months while Vietnam <.VNI> inched down 0.03 percent, after climbing earlier to its highest in nearly three weeks.

Monday, November 8, 2010

Trader's Highlight

DJI-NEW YORK, Nov 5 (Reuters) - Wall Street navigated through three major landmines this week -- the elections, the U.S. Federal Reserve meeting and jobs report -- with barely a scratch. Now what?

With earnings season winding down and a light economic calendar next week, the market will be left to its own devices to sort out its direction.

A rise of more than 16 percent in the S&P 500 <.SPX> since the start of September had many investors expecting a pullback after the trio of big events. But it appears to have emboldened them instead.

The CBOE Volatility Index, a measure of market anxiety, has slipped below 19 and the late-week action suggests a market getting ready for more gains -- not a sell-off.

NYMEX-NEW YORK, Nov 5 (Reuters) - U.S. crude oil futures rose for a fifth day on Friday, posting the highest close in two years on a stronger-than-expected rise in U.S. jobs

On the New York Mercantile Exchange, crude turned in the best weekly performance in eight months, though the day's gains were limited as the dollar rallied.

On the New York Mercantile Exchange, crude for December delivery settled up 36cents, or 0.42 percent, at $86.85 a barrel, overtaking the year's highest close at $86.84 and posting the highest settlement since Oct. 8, 2008, when front-month crude ended at $88.95.

CBOT-CHICAGO, Nov 5 (Reuters) - Soybean futures on the Chicago Board of Trade rose for a third straight day on Friday, reaching a near 17-month high spot price, led by strength in soyoil as Asian vegoil markets rose, traders said.

CBOT-SOYBEANS - November up 4-3/4 cents at $12.69-1/2 per bushel; January up 5 at $12.79-3/4. Rose to a near 17-month high spot price overnight following soaring vegoils, with China's Dalian soyoil and palm oil limit up and crude oil higher despite an upturn in the dollar.

CBOT-SOYOIL - December up 0.61 cent at 51.86 cents per lb. Spot soyoil reached highest level since August 2008 on soaring global vegoils, with Dalian soyoil limit up and crude oil firm, despite an upturn in the dollar.

FCPO-KUALA LUMPUR, Nov 4 (Reuters) - Malaysian palm oil futures hit new 27-month highs on Thursday, tracking broad equity and commodity market gains after the Federal Reserve's decision to pump more money into the U.S. economy weakened the dollar.

The Federal Reserve committed to buy $600 billion in government bonds despite concerns the program might lead to high inflation.

The dollar index <.DXY>, a gauge of the greenback's performance against a basket of currencies, eased to just above its 2010 low set in October, sending investors to commodities as an inflation hedge and making dollar-priced products cheaper for holders of other currencies.

Another trader said palm oil investors were covering their positions before a three-day holiday in Malaysia on concerns that gains in crude oil and other commodities point to inflation.

Malaysia's benchmark Jan 2011 crude palm oil futures jumped as much as 3.3 percent to 3,210 ringgit ($1,042) -- the highest level since July 23, 2008. The overall traded volume almost doubled to 18,948 lots of 25 tonnes each.

REGIONAL EQUITIES-COLOMBO, Nov 5 (Reuters) - Most Southeast Asian stock markets rose on Friday, with Thailand outperforming, due to investors' hopes that a forthcoming $600 billion U.S. stimulus package will increase appetite for riskier assets and lure strong inflows.

Thai shares <.SETI> rose 5.7 percent on the week, their best weekly performance in 17months, and 0.9 percent on the day, scoring another 14-year high.

Singapore <.FTSTI> and Malaysia <.KLSE> were closed for a holiday on Friday, but they still rose 3.1 percent and 0.4 percent respectively on the week.