Trader's Highlight

DJI-NEW YORK, Sept 17 (Reuters) - A measure of global stocks reached an 11-month high on Thursday as economic reports supported themes of recovery, pushing currency investors seeking riskier trades out of U.S. dollars.

But U.S. shares edged lower as some disappointing corporate profits reined in enthusiasm over an economy still seen as vulnerable to rising unemployment.

U.S. indexes shed early gains, with the Dow Jones industrial average <.DJI> down 0.08 percent to 9,783.92. The Standard & Poor's 500 Index <.SPX> declined 0.31 percent to 1,065.49, and the Nasdaq Composite Index <.IXIC> fell 0.15 percent, to 2,080.90.

NYMEX-NEW YORK, Sept 17 (Reuters) - U.S. crude futures ended slightly lower on Thursday, as demand worries amid high inventories offset positive economic data.

An early surge to above $73 fizzled out as traders saw the stock market fall back after rising on reassuring jobless claims and housing reports.

On the New York Mercantile Exchange, October crude settled down 4 cents, or 0.06 percent, at $72.47 a barrel, trading from $71.66 to $73.16.

CBOT-SOYBEANS - November up 2-1/2 cents at $9.53. Nearby months end up as China keeps buying U.S. soybeans with gains limited and pressure on deferred months amid waning worries about frost late next week in the United States that could have harmed the soybean crop.

CBOT-SOYOIL - October up 0.17 cent per lb at 34.55. Short-covering lends support.

FCPO-JAKARTA, Sept 17 (Reuters) - Malaysian crude palm oil futures were little changed Thursday, taking a breather after a two-day rally, as investors squared positions ahead of a long holiday weekend, traders said.

The benchmark December contract on the Bursa Malaysia Derivative Exchange edged up 1 ringgit, or 0.05 percent, at 2,182 ringgit ($629.18) a tonne. Overall volume was 12,959 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, Sept 17 (Reuters) - Some Southeast Asian stock markets posted small gains on Thursday after U.S. data brought more signs of recovery, but both Singapore and Thailand failed to hold on to early rises, ending lower.

some investors were quick to book profits and Singapore's index <.FTSTI> closed down 0.07 percent. Thailand <.SETI> lost 0.14 percent. But Malaysia's index <.KLSE> was up 0.5 percent and Indonesia <.JKSE> rose 0.72 percent ahead of a long Muslim holiday starting Friday. It will resume trade next Thursday. The Philippines <.PSI> snapped a three-day fall to finish up 0.12 percent while Vietnam <.VNI> extended its gains into a sixth
day, adding 0.8 percent to its highest since Aug. 27, 2008.

FCPO Daily: Consolidation is taking place

Consolidation mode is likely to extend in near term. Thus, we maintain the upside resistance at 2200-2220 and downside support is pegged at 2119-2122 (leftover gap on 16/9/2009).

CBOT Soyoil Daily: Sideways to bias upside potential

Market momentum strengthen further following prices continue to improve. Hence, market may move into sideways bias to little upside potential in near term. To the upside, resistance is pegged at USD36.19. While, downside support is adjusted to maintain at USD33.00.

NYMEX Crude Daily: Consolidation phase likely to continue

Market tested the USD73 at intra-day basis but not closing. Thus, consolidation phase is likely to continue in near term unless a more significant breakout from the either USD73 or USD67 levels respectively to give a more clearer direction.

SSE Daily: May move higher

Market continue to edge higher and tested the immediate resistance at 3060. Thus, we continue to stick to positive view towards the near term market provided immediate resistance at 3060-3080 violated convincingly. Next resistance will be followed by 3150. While, downside support is maintain at 2900 levels.

FKLI Daily: Still maintain in Bullish tone

Overall technical landscape still remains in bullish tone despite prices gave up its early gains to end off the low. We maintain the upside resistance at 1230-1240 followed by 1250. To the downside, support is maintain at 1200.

Breaking News-RTRS-China state soy auction quiet over high set price

BEIJING, Sept 16 (Reuters) - China's weekly state soybean
auctions failed to attract bidders in Jilin and Inner Mongolia,
with only 15,500 tonnes of soybeans sold in northeast
Heilongjiang, or 3.1 percent of the total volume offered.
The highest price paid was 3,790 yuan ($555.3) per tonne,
down nearly 100 yuan compared with last week, when the market was
concerned about a drought in the major soy-growing area of
northeast China.

Breaking News-RTRS-UPDATE 1-Indonesia Aug palm oil exports up 65 pct - industry

JAKARTA, Sept 16 (Reuters) - Indonesian palm oil exports are estimated to have jumped 65 percent in August to 1.62 million tonnes from a year ago, data from the Indonesian Palm Oil Producers' association, GAPKI, showed on Wednesday.
August exports also rose 48 percent from 1.09 million tonnes shipped in July, the data showed.

Trader's Highlight

DJI-NEW YORK, Sept 16 (Reuters) - The U.S. dollar slumped to near one-year lows on Wednesday, helping lift global stocks and commodities, as fresh U.S. data spurred optimism about an economic recovery and eroded demand for safe-haven assets.

Most prices for U.S. and euro zone government debt fell after a second day of surprisingly strong U.S. economic data fueled expectations of a robust recovery from the worst global downturn since World War Two.

The Dow Jones industrial average <.DJI> closed up 108.30 points, or 1.12 percent, at 9,791.71. The Standard & Poor's 500 Index <.SPX> added 16.13 points, or 1.53 percent, at 1,068.76. The Nasdaq Composite Index <.IXIC> gained 30.51 points, or 1.45 percent, at 2,133.15.

A Reuters poll of economists in the United States and Europe released on Wednesday forecast strong U.S. economic growth in the current quarter after four quarters of decline. The poll put growth at a 3 percent annual rate, significantly higher than the 2.4 percent growth rate in the August poll.

NYMEX-NEW YORK, Sept 16 (Reuters) - U.S. crude futures rallied to above $72 and closed more than 2 percent higher on Wednesday, after government data showed that domestic crude inventories fell more than expected last week, against an industry report on Tuesday that supplies rose.

On the New York Mercantile Exchange, October crude settled up $1.58, or 2.23 percent, at $72.51 a barrel, trading from $70.14 to $72.56.

CBOT-SOYBEANS - November down 9-1/2 cents at $9.50-1/2 per bushel. Profit-taking after big gains on Tuesday as some forecasts showed a diminished threat of frost next week in the U.S. Midwest. Additional pressure from stepped-up farmer selling. Soy rallied Tuesday on a freeze threat for next week.
Declines limited by weak dollar, firm crude oil and gains in equities.

CBOT-SOYOIL - October down 0.05 at 34.38 cents per lb, December down 0.04 at 34.78. Following soybeans. Upturn in crude oil lends underlying support.

FCPO-JAKARTA, Sept 16 (Reuters) - Malaysian crude palm oil futures jumped 4.4 percent on Wednesday, their biggest one-day rise in more than six weeks, as investors covered short positions ahead of a long holiday weekend, traders said.

The benchmark December contract on the Bursa Malaysia Derivative Exchange rose 91 ringgit to 2,181 ringgit ($626.72) a tonne. Overall volume was more than double the usual at 24,932 lots of 25 tonnes each. The exchange will be closed on Sept. 21-22 for the Muslim festival of Eid al-Fitr.

REGIONAL EQUITIES-BANGKOK, Sept 16 (Reuters) - Most Southeast Asian stock markets gained on Wednesday, buoyed by hopes for economic recovery, with Singapore outperforming as its property shares rallied after steep falls earlier in the week.

Singapore's benchmark Straits Times Index (STI) <.FTSTI> climbed 1.4 percent, with DBS Group , Southeast Asia's biggest lender, up 2 percent.

Thailand's index <.SETI> gained 1 percent, Malaysia's index <.KLSE> rose 0.5 percent to its highest since June 2008 and Indonesia's index <.JKSE> ended up 0.8 percent at its highest since May 2008.

In Kuala Lumpur, gainers included Proton , which surged 12 percent on continued market speculation that Malaysian billionaire Syed Mokhtar Al Bukhary may be interested in acquiring a controlling stake in the national car maker.

FCPO Daily: May trade in sideweways move

Market violated the resistance at 2170 convincingly following gap at 2122-2140 was covered. A sharp rebound had helped to cushion the market downside move and neutralised the overall daily technical landscape. Thus, market may move sideways and consolidate in near term. To the upside, resistance is looking at 2200-2220. While, downside support is pegged at 2119-2122 (leftover gap on 16/9/2009).

CBOT Soyoil Daily: into Correction zone

Market retreated after a sharp rebound. Correction mode is likely to take place in near term. Thus, we are looking for the upside resistance at USD36.19. Downside support is maintain at USD33.00.

NYMEX Crude: Gaining ground

Market is gaining ground with printed another long white candle. Market may continue to cap in the consolidation phase unless it manage to break out from the either USD73 or USD67 levels respectively to identify a clearer direction.

SSE Daily: Sideways to bias upside potential

Market is still maintain its upward posture despite a negative closing. Violation of the immediate resistance at 3060-3080 may provide more room to bias upside potential in near term. Next resistance will be followed by 3150. While, downside support is maintain at 2900 levels.

DJI Daily: May challenge 9800-10,000 levels

A triple digit up had proved to us that Bulls are ready to challenge the upside target at 9800-10,000 levels in anytime soon. Thus, we maintain positive towards the near term market. To the downside, support is pegged at 9600 levels.

FKLI Daily: TOPLESS!!!!

Market continue to ride on the uptrend following a convincing breakout from the recent high at 1215. Next resistance will be looking at 1230-1240 followed by 1250. To the downside, support is maintain at 1200.

CPO Tender Summary As at September 2009

Breaking News-RTRS-UPDATE 3-Bernanke says U.S. recession is 'very likely' over

WASHINGTON, Sept 15 (Reuters) - Federal Reserve Chairman Ben Bernanke said on Tuesday that the worst U.S. recession since the Great Depression was probably over, but the recovery would be slow and it would take time to create new jobs.

Breaking News-RTRS-Biofuels may make Brazil soyoil importer-Oil World

HAMBURG, Sept 15 (Reuters) - Brazil, one of the world's leading soyoil exporters, may start importing soyoil from October 2009 because of sharply rising need for biofuel production, oilseeds analysts Oil World forecast on Tuesday.
"In Brazil, surging requirements for biodiesel production and declining soybean crushings will enforce a reduction in soyoil exports and probably necessitate soyoil imports in Oct. 2009/Jan. 2010," Oil World said.
Brazil's biodiesel output reached a record 134,000 tonnes in July 2009, up 41 percent on the year as the country raised compulsory blending of biofuels in fossil diesel, Oil World said.

FCPO Daily: May challenge upside gap

Market ended in positive territory and was trying to rebound after the recent sharp drop. Thus, it may want to challenge the upside gap left over on 14/9/2009 at 2119-2140 followed by 2170. Downside support is pegged at 2070.

CBOT Soyoil Daily: Defended well

A sharp rebound had neutralised the immediate technical outlook following a good defend at USD33.00. Thus, market may move into correction zone with upside resistance and downside support is looking at USD35.50-35.70 and USD33.00 levels respectively.