Earlier this year, the Bakrie Group's agricultural unit forecast 2011 output at 280,000 tonnes compared with 220,000/230,000 tonnes last year.
The production rise was due to some plantations coming into peak yield, Janurianto said in February.
Friday, October 21, 2011
Breaking News-RTRS - Palm oil output at 300,000 T in 2011- Bakrie Sumatera
JAKARTA, Oct 20 (Reuters) - Palm oil output at Indonesia's Bakrie Sumatera will rise by more than 35 percent this year to 300,000 tonnes, Ambono Janurianto, chief executive at the planter, said on Thursday.
Earlier this year, the Bakrie Group's agricultural unit forecast 2011 output at 280,000 tonnes compared with 220,000/230,000 tonnes last year.
The production rise was due to some plantations coming into peak yield, Janurianto said in February.
Earlier this year, the Bakrie Group's agricultural unit forecast 2011 output at 280,000 tonnes compared with 220,000/230,000 tonnes last year.
The production rise was due to some plantations coming into peak yield, Janurianto said in February.
Trader's Highlight
DJI-NEW YORK, Oct 20 (Reuters) - U.S. stocks and the euro rose on Thursday after France and Germany said they would press ahead to solve the euro zone debt crisis, despite setbacks that meant the details might not be settled at a weekend European Union summit.
France and Germany confirmed in a joint statement that euro zone leaders will discuss a solution at the summit on Sunday.
At the close, the Dow Jones industrial average <.DJI> was up 37.16 points, or 0.32 percent, at 11,541.78. The Standard & Poor's 500 Index <.SPX> was up 5.51 points, or 0.46 percent, at 1,215.39. The Nasdaq Composite Index <.IXIC> was down 5.42 points, or 0.21 percent, at 2,598.62.
NYMEX-NEW YORK, Oct 20 (Reuters) - U.S. crude oil futures ended lower for a second day on Thursday, pressured by liquidations ahead of the front-month November crude contract's expiration and economic data pointing to slow growth.
Existing home sales fell in September, but initial jobless claims declined last week while mid-Atlantic factory activity rebounded in October, economic data showed.
On the New York Mercantile Exchange, the November crude contract expired and settled at $85.30 a barrel, down 81 cents, or 0.94 percent, after trading from $84.10 to $86.94.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade fell for a fourth straight day on the unwinding of long soy/short corn spreads and disappointing weekly U.S. export sales, traders said.
The spot CBOT soybean/corn spread rose 71-1/2 cents per bushel last week, with soy outgaining corn, but has given back about 58 cents since then as traders booked profits.
FCPO-KUALA LUMPUR, Oct 20 (Reuters) - Malaysian palm oil futures dropped on Thursday as investors' avoided risky assets on concerns that a key European leaders' summit may not reach a consensus on the debt crisis in the region.
Losses, however, were limited as market players came back later in the session as the market was seen as oversold.
Palm oil prices have see-sawed for this week on conflicting reports over European governments reaching a deal to contain the crisis and recapitalise banks in the region.
Benchmark January palm oil futures on the Bursa Malaysia Derivatives Exchange settled down 0.9 percent at 2,866 Malaysian ringgit ($923). The contract earlier fell to an intra-day low of 2,822 ringgit, coming close to a one-week low hit on Tuesday.
Traded volumes stood at 31 lots of 25 tonnes each, compared to the usual 12,500 lots as more market players returned to take up positions.
REGIONAL EQUITIES-BANGKOK, Oct 20 (Reuters) - Southeast Asian stock markets fell on Thursday as investors cut exposures to riskier assets across the board ahead of a key European leaders' summit on Sunday, with flood concerns sending Thai stocks to their lowest in almost two weeks.
The region has been choppy this week with jitters over the progress of European efforts to avoid sovereign debt defaults. Market players appeared wary of news flows about euro zone debts and booked quick gains, but most stayed on the sidelines.
Singapore <.FTSTI> fell nearly 1 percent and Malaysia <.KLSE> eased 0.6 percent, both to around one-week lows. Indonesia <.JKSE> and the Philippines <.PSI> snapped Wednesday's rebounds, ending down 1.7 percent and 0.6 percent respectively.
France and Germany confirmed in a joint statement that euro zone leaders will discuss a solution at the summit on Sunday.
At the close, the Dow Jones industrial average <.DJI> was up 37.16 points, or 0.32 percent, at 11,541.78. The Standard & Poor's 500 Index <.SPX> was up 5.51 points, or 0.46 percent, at 1,215.39. The Nasdaq Composite Index <.IXIC> was down 5.42 points, or 0.21 percent, at 2,598.62.
NYMEX-NEW YORK, Oct 20 (Reuters) - U.S. crude oil futures ended lower for a second day on Thursday, pressured by liquidations ahead of the front-month November crude contract's expiration and economic data pointing to slow growth.
Existing home sales fell in September, but initial jobless claims declined last week while mid-Atlantic factory activity rebounded in October, economic data showed.
On the New York Mercantile Exchange, the November crude contract
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade fell for a fourth straight day on the unwinding of long soy/short corn spreads and disappointing weekly U.S. export sales, traders said.
The spot CBOT soybean/corn spread rose 71-1/2 cents per bushel last week, with soy outgaining corn, but has given back about 58 cents since then as traders booked profits.
FCPO-KUALA LUMPUR, Oct 20 (Reuters) - Malaysian palm oil futures dropped on Thursday as investors' avoided risky assets on concerns that a key European leaders' summit may not reach a consensus on the debt crisis in the region.
Losses, however, were limited as market players came back later in the session as the market was seen as oversold.
Palm oil prices have see-sawed for this week on conflicting reports over European governments reaching a deal to contain the crisis and recapitalise banks in the region.
Benchmark January palm oil futures
Traded volumes stood at 31 lots of 25 tonnes each, compared to the usual 12,500 lots as more market players returned to take up positions.
REGIONAL EQUITIES-BANGKOK, Oct 20 (Reuters) - Southeast Asian stock markets fell on Thursday as investors cut exposures to riskier assets across the board ahead of a key European leaders' summit on Sunday, with flood concerns sending Thai stocks to their lowest in almost two weeks.
The region has been choppy this week with jitters over the progress of European efforts to avoid sovereign debt defaults. Market players appeared wary of news flows about euro zone debts and booked quick gains, but most stayed on the sidelines.
Singapore <.FTSTI> fell nearly 1 percent and Malaysia <.KLSE> eased 0.6 percent, both to around one-week lows. Indonesia <.JKSE> and the Philippines <.PSI> snapped Wednesday's rebounds, ending down 1.7 percent and 0.6 percent respectively.
Thursday, October 20, 2011
Trader's Highlight
DJI-NEW YORK, Oct 19 (Reuters) - U.S. stocks fell and the euro edged lower on Wednesday after optimism faded that European leaders will make substantial progress on resolving the euro zone debt crisis at their summit meeting this weekend.
The Federal Reserve's Beige Book report suggested the U.S. ecomomic outlook grew dimmer in September, also sapping sentiment.
The Dow Jones industrial average <.DJI> fell 72.43 points, or 0.63 percent, to end at 11,504.62. The Standard & Poor's 500 Index <.SPX> was down 15.50 points, or 1.26 percent, at 1,209.88. The Nasdaq Composite Index <.IXIC> was down 53.39 points, or 2.01 percent, at 2,604.04.
NYMEX-NEW YORK, Oct 19 (Reuters) - U.S. crude fell more than 2 percent on Wednesday as persistent concerns about Europe's debt problems offset supportive U.S. government inventory data showing crude oil stocks fell sharply last week.
Plans to tackle the euro zone debt crisis have stalled with Paris and Berlin at odds over how to increase the firepower of the region's bailout fund.
On the New York Mercantile Exchange, November crude fell $2.23, or 2.52 percent, to settle at $86.11 a barrel, having swung from $85.87 to $89.51.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade fell 2.1percent, their third straight lower close, as traders took profits by unwinding long soybean/short corn spreads, traders said.
Front-month CBOT soybeans gained more than 71 cents over spot corn last week, driven by bullish soy data in USDA's Oct. 12 supply/demand report and a Goldman Sachs note that predicted soybean prices would out-grain corn.
FCPO-KUALA LUMPUR, Oct 19 (Reuters) - Malaysian palm oil futures bounced on Wednesday on improving sentiment after a news report said European policy makers will increase financial firepower to resolve the region's debt woes.
Although euro zone officials denied the reported agreement to increase the bailout fund by five-fold, global financial markets rose on expectations that a deal was imminent.
Benchmark January palm oil futures on the Bursa Malaysia Derivatives Exchange settled up 2 percent to 2,892 ringgit ($922). The previous day, the contract dropped to 2,817 ringgit -- the lowest since Oct. 11.
Traded volumes stood at 29,646 lots of 25 tonnes each, compared to the usual 25,000 lots as more market players took up positions.
REGIONAL EQUITIES-BANGKOK, Oct 19 (Reuters) - Stocks in Indonesia, Malaysia and the Philippines rose on Wednesday but concerns about the euro zone debt crisis capped gains and helped pull down other markets in Southeast Asia, with weakness in bank stocks further depressing Thailand.
In general, bargain-hunting lent support to the region but trading volume was light and dominated by short-term traders.
Malaysia <.KLSE> and the Philippines <.PSI> gained 0.7 percent and 0.9 percent respectively. Singapore <.FTSTI>, Thailand <.SETI> and Vietnam <.VNI> lost 0.2 percent, 1.5 percent and 0.8 percent respectively.
Singaporean oil rig builder Sembcorp Marine Ltd rose as much as 4.2 percent, lifted by news a subsidiary had won a $100 million contract in Australia. Malaysia's oil and gas services provider Kencana Petroleum Bhd rose 3.7percent.
The Federal Reserve's Beige Book report suggested the U.S. ecomomic outlook grew dimmer in September, also sapping sentiment.
The Dow Jones industrial average <.DJI> fell 72.43 points, or 0.63 percent, to end at 11,504.62. The Standard & Poor's 500 Index <.SPX> was down 15.50 points, or 1.26 percent, at 1,209.88. The Nasdaq Composite Index <.IXIC> was down 53.39 points, or 2.01 percent, at 2,604.04.
NYMEX-NEW YORK, Oct 19 (Reuters) - U.S. crude fell more than 2 percent on Wednesday as persistent concerns about Europe's debt problems offset supportive U.S. government inventory data showing crude oil stocks fell sharply last week.
Plans to tackle the euro zone debt crisis have stalled with Paris and Berlin at odds over how to increase the firepower of the region's bailout fund.
On the New York Mercantile Exchange, November crude
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade fell 2.1percent, their third straight lower close, as traders took profits by unwinding long soybean/short corn spreads, traders said.
Front-month CBOT soybeans
FCPO-KUALA LUMPUR, Oct 19 (Reuters) - Malaysian palm oil futures bounced on Wednesday on improving sentiment after a news report said European policy makers will increase financial firepower to resolve the region's debt woes.
Although euro zone officials denied the reported agreement to increase the bailout fund by five-fold, global financial markets rose on expectations that a deal was imminent.
Benchmark January palm oil futures
Traded volumes stood at 29,646 lots of 25 tonnes each, compared to the usual 25,000 lots as more market players took up positions.
REGIONAL EQUITIES-BANGKOK, Oct 19 (Reuters) - Stocks in Indonesia, Malaysia and the Philippines rose on Wednesday but concerns about the euro zone debt crisis capped gains and helped pull down other markets in Southeast Asia, with weakness in bank stocks further depressing Thailand.
In general, bargain-hunting lent support to the region but trading volume was light and dominated by short-term traders.
Malaysia <.KLSE> and the Philippines <.PSI> gained 0.7 percent and 0.9 percent respectively. Singapore <.FTSTI>, Thailand <.SETI> and Vietnam <.VNI> lost 0.2 percent, 1.5 percent and 0.8 percent respectively.
Singaporean oil rig builder Sembcorp Marine Ltd
Wednesday, October 19, 2011
Trader's Highlight
DJI-NEW YORK, Oct 18 (Reuters) - U.S. stocks surged late in trading on Tuesday as buyers latched onto another report of agreements to strengthen the euro zone's rescue fund to bid up stocks aggressively.
All three major indexes rose sharply after a Britain's Guardian newspaper said France and Germany will increase the euro zone's rescue fund to 2 trillion euros as part of a plan to resolve the sovereign debt crisis.
The Dow Jones industrial average <.DJI> ended up 180.05 points, or 1.58 percent, at 11,577.05. The Standard & Poor's 500 Index <.SPX> was up 24.52 points, or 2.04 percent, at 1,225.38. The Nasdaq Composite Index <.IXIC> was up 42.51 points, or 1.63percent, at 2,657.43.
NYMEX-NEW YORK, Oct 18 (Reuters) - U.S. crude oil futures gained more than 2 percent on Tuesday, rebounding sharply from Monday's loss, as Wall Street rose on bank earnings, that overshadowed slower Chinese growth and Europe's debt troubles.
In early trade, prices fell as China's third quarter growth rate came in as the slowest pace in two years and Moody's warned it may slap a negative outlook on France's triple-A credit rating.
On the New York Mercantile Exchange, crude for November delivery settled at $88.34 a barrel, gaining $1.96, or 2.27 percent, after trading between $85.55 and $88.61. The contract expires on Thursday.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade ended modestly lower on renewed concerns about the global economy, a lack of fresh demand news and favorable soy planting weather in South America, traders said.
Growth in top soy buyer China slowed in the third quarter to its weakest pace since early 2009.
FCPO-KUALA LUMPUR, Oct 18 (Reuters) - Malaysian palm oil futures dropped to their lowest in a week on Tuesday as Europe's debt problems continue to fester and China reported slightly slower economic growth, raising concerns of slower commodity demand.
The market extended losses for a second day after Germany's finance minister cautioned on Monday that a definitive solution would not be reached at the Oct. 23 European union summit and Moody's warned France of a negative outlook.
Benchmark January palm oil futures on the Bursa Malaysia Derivatives Exchange settled down 1.4 percent to 2,835 ringgit ($919). Earlier in the session, the contract dropped to 2,817 ringgit -- the lowest since Oct. 11.
Traded volumes stood at 26,981 lots of 25 tonnes each, compared to the usual 25,000 lots.
REGIONAL EQUITIES-BANGKOK, Oct 18 (Reuters) - Southeast Asian stock markets pulled back on Tuesday as big caps and commodity stocks gave up recent gains on concern about prospects for Europe to contain its debt crisis and a slowdown in Chinese growth.
The selling that ended the region's rally of the past week came in light trading volume. Short-term traders and trading portfolios that dominated recent buying appeared to cash in quick gains, traders said.
Stocks in Singapore <.FTSTI>, Thailand <.SETI> and Malaysia <.KLSE> each fell almost 2 percent on Tuesday while the Philippines <.PSI> and Vietnam <.VNI> were down more than one percent.
Among actively traded stocks, Singapore's oil rig maker Keppel Corp Ltd fell 4.4 percent, one of the hardest hit in the Straits Times Index, as investors took profit from cyclical stocks that were more volatile and oil prices fell.
All three major indexes rose sharply after a Britain's Guardian newspaper said France and Germany will increase the euro zone's rescue fund to 2 trillion euros as part of a plan to resolve the sovereign debt crisis.
The Dow Jones industrial average <.DJI> ended up 180.05 points, or 1.58 percent, at 11,577.05. The Standard & Poor's 500 Index <.SPX> was up 24.52 points, or 2.04 percent, at 1,225.38. The Nasdaq Composite Index <.IXIC> was up 42.51 points, or 1.63percent, at 2,657.43.
NYMEX-NEW YORK, Oct 18 (Reuters) - U.S. crude oil futures gained more than 2 percent on Tuesday, rebounding sharply from Monday's loss, as Wall Street rose on bank earnings, that overshadowed slower Chinese growth and Europe's debt troubles.
In early trade, prices fell as China's third quarter growth rate came in as the slowest pace in two years and Moody's warned it may slap a negative outlook on France's triple-A credit rating.
On the New York Mercantile Exchange, crude for November delivery
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade ended modestly lower on renewed concerns about the global economy, a lack of fresh demand news and favorable soy planting weather in South America, traders said.
Growth in top soy buyer China slowed in the third quarter to its weakest pace since early 2009.
FCPO-KUALA LUMPUR, Oct 18 (Reuters) - Malaysian palm oil futures dropped to their lowest in a week on Tuesday as Europe's debt problems continue to fester and China reported slightly slower economic growth, raising concerns of slower commodity demand.
The market extended losses for a second day after Germany's finance minister cautioned on Monday that a definitive solution would not be reached at the Oct. 23 European union summit and Moody's warned France of a negative outlook.
Benchmark January palm oil futures
Traded volumes stood at 26,981 lots of 25 tonnes each, compared to the usual 25,000 lots.
REGIONAL EQUITIES-BANGKOK, Oct 18 (Reuters) - Southeast Asian stock markets pulled back on Tuesday as big caps and commodity stocks gave up recent gains on concern about prospects for Europe to contain its debt crisis and a slowdown in Chinese growth.
The selling that ended the region's rally of the past week came in light trading volume. Short-term traders and trading portfolios that dominated recent buying appeared to cash in quick gains, traders said.
Stocks in Singapore <.FTSTI>, Thailand <.SETI> and Malaysia <.KLSE> each fell almost 2 percent on Tuesday while the Philippines <.PSI> and Vietnam <.VNI> were down more than one percent.
Among actively traded stocks, Singapore's oil rig maker Keppel Corp Ltd
Tuesday, October 18, 2011
Trader's Highlight
DJI-NEW YORK, Oct 17 (Reuters) - U.S. stocks suffered their worst loss in two weeks on Monday after comments from Germany's finance minister caused investors to fear Europe's solution to its debt crisis may not come fast enough.
The S&P index had risen for two straight weeks for the first time since July, riding a wave of euphoria built on optimism that European leaders had a newfound commitment to tackle a crisis that threatened financial stability and global growth.
The Dow Jones industrial average <.DJI> was down 246.58 points, or 2.12 percent, at 11,397.91. The Standard & Poor's 500 Index <.SPX> was down 23.72 points, or 1.94 percent, at 1,200.86. The Nasdaq Composite Index <.IXIC> was down 52.93 points, or 1.98 percent, at 2,614.92.
NYMEX-NEW YORK, Oct 17 (Reuters) - U.S. crude oil futures fell on Monday as investors were dismayed by German finance minister's forecasts that an EU summit this weekend would not present a definitive solution to the region's debt crisis, curbing investors' risk appetite.
The euro fell against the dollar after Wolfgang Schaeuble's comments as it dashed recent hopes that a durable solution to the region's troubles could be attained soon.
On the New York Mercantile Exchange, crude for November delivery settled at $86.38 a barrel, down 42 cents, or 0.48 percent, after trading between $85.88 and $88.18.
CBOT-SOYBEANS-Chicago Board of Trade soybean futures fell 1.5 percent, snapping a five-session winning streak due to pressure from the ongoing U.S. harvest, traders said.
A firm dollar that weighed heavily on all commodities also added pressure to the soybean market, which rose 10 percent last week.
FCPO-KUALA LUMPUR, Oct 17 (Reuters) - Malaysian palm oil futures ended down 1.3 percent on Monday, falling sharply from an earlier three-week high after comments from the German finance minister and also on expectations of a larger U.S. soybean crop for crushing into edible oil.
Palm oil prices, which gained five percent last week, came under pressure along with other commodities after Germany's Finance Minister said European governments would not present an ultimate solution for the debt crisis this week.
Benchmark January palm oil futures on the Bursa Malaysia Derivatives Exchange rose as much as 1.1 percent to 2,946 ringgit -- the highest since Sept. 2.
The contract then gave up all its gains and more to settle 1.3 percent lower at 2,876 ringgit, with sell orders coming in the last minute.
REGIONAL EQUITIES-BANGKOK, Oct 17 (Reuters) - Southeast Asian stock markets gained on Monday amid hopes that euro zone policy makers will come up with a plan to solve the region's debt woes, with resource shares rising with commodity prices and lower interest rates lifting Indonesian developers.
Markets in the region hit multi-week highs, along with regional currencies, as investors flush with cash after a sell-off in the previous quarter plucked up the nerve to return.
Malaysian shares <.KLSE> climbed 1.6 percent to the highest in more than five weeks. Stocks in Singapore <.FTSTI>, Thailand <.SETI>, Indonesia <.JKSE> and the Philippines <.PSI> gained more than 1 percent to the highest in more than 3 weeks.
The S&P index had risen for two straight weeks for the first time since July, riding a wave of euphoria built on optimism that European leaders had a newfound commitment to tackle a crisis that threatened financial stability and global growth.
The Dow Jones industrial average <.DJI> was down 246.58 points, or 2.12 percent, at 11,397.91. The Standard & Poor's 500 Index <.SPX> was down 23.72 points, or 1.94 percent, at 1,200.86. The Nasdaq Composite Index <.IXIC> was down 52.93 points, or 1.98 percent, at 2,614.92.
NYMEX-NEW YORK, Oct 17 (Reuters) - U.S. crude oil futures fell on Monday as investors were dismayed by German finance minister's forecasts that an EU summit this weekend would not present a definitive solution to the region's debt crisis, curbing investors' risk appetite.
The euro fell against the dollar after Wolfgang Schaeuble's comments as it dashed recent hopes that a durable solution to the region's troubles could be attained soon.
On the New York Mercantile Exchange, crude for November delivery
CBOT-SOYBEANS-Chicago Board of Trade soybean futures fell 1.5 percent, snapping a five-session winning streak due to pressure from the ongoing U.S. harvest, traders said.
A firm dollar that weighed heavily on all commodities also added pressure to the soybean market, which rose 10 percent last week.
FCPO-KUALA LUMPUR, Oct 17 (Reuters) - Malaysian palm oil futures ended down 1.3 percent on Monday, falling sharply from an earlier three-week high after comments from the German finance minister and also on expectations of a larger U.S. soybean crop for crushing into edible oil.
Palm oil prices, which gained five percent last week, came under pressure along with other commodities after Germany's Finance Minister said European governments would not present an ultimate solution for the debt crisis this week.
Benchmark January palm oil futures
The contract then gave up all its gains and more to settle 1.3 percent lower at 2,876 ringgit, with sell orders coming in the last minute.
REGIONAL EQUITIES-BANGKOK, Oct 17 (Reuters) - Southeast Asian stock markets gained on Monday amid hopes that euro zone policy makers will come up with a plan to solve the region's debt woes, with resource shares rising with commodity prices and lower interest rates lifting Indonesian developers.
Markets in the region hit multi-week highs, along with regional currencies, as investors flush with cash after a sell-off in the previous quarter plucked up the nerve to return.
Malaysian shares <.KLSE> climbed 1.6 percent to the highest in more than five weeks. Stocks in Singapore <.FTSTI>, Thailand <.SETI>, Indonesia <.JKSE> and the Philippines <.PSI> gained more than 1 percent to the highest in more than 3 weeks.
Monday, October 17, 2011
Trader's Highlight
DJI-NEW YORK, Oct 14 (Reuters) - Global stocks and the euro rallied on Friday over growing optimism that Europe is on track to resolve its festering sovereign debt crisis and after data showed a surprising surge in U.S. retail sales.
The benchmark S&P 500 posted back-to-back weekly gains for the first time since early July while the euro headed for its best week in nine months against the U.S. dollar and gold marked its biggest weekly rise in six weeks.
The Dow Jones industrial average <.DJI> closed up 166.36 points, or 1.45 percent, at 11,644.49. The Standard & Poor's 500 Index <.SPX> gained 20.92 points, or 1.74 percent, at 1,224.58. The Nasdaq Composite Index <.IXIC> added 47.61 points, or 1.82 percent, at 2,667.85.
NYMEX-NEW YORK, Oct 14 (Reuters) - U.S. crude oil futures settled at a three-week high on Friday, regaining strength after two days of losses, on a jump in retail sales and rising hopes that the euro zone debt crisis would be contained.
U.S. monthly retail sales rose 1.1 percent in September, better than forecast, and adding to recent data showing that the economy was on the mend, although slowly.
On the New York Mercantile Exchange, crude for November delivery settled at $86.80 a barrel, rising $2.57, or 3.05 percent, the highest close since Sept. 20, when prices ended at $86.89
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade closed higher for a fifth straight session, buoyed by a setback in the U.S. dollar, firm cash markets and hopes that China might buy more U.S. soy, traders said.
Market also lifted by long soy/short corn spreading amid tightening U.S. soybean stocks.
FCPO-JAKARTA, Oct 14 (Reuters) - Malaysian palm oil futures extended gains to hit a two-week high on Friday and posted a near 5 percent increase this week, as a positive export outlook and expectations of Chinese soy re-stocking, offset economic uncertainty.
Benchmark December palm oil futures on the Bursa Malaysia Derivatives Exchange closed up 2.2 percent at 2,906 Malaysian ringgit ($925) a tonne.
Traded volumes were 10,894 lots of 25 tonnes each, versus 8,095 lots on Thursday.
REGIONAL EQUITIES-BANGKOK, Oct 14 (Reuters) - Most Southeast Asian stock markets gained on Friday as hopes of progress on the euro zone's debt problems helped ease concerns about the global economy and flood-hit Thai stocks steadied.
Investors locked in quick profits in some markets that pulled stocks in Malaysia <.KLSE> and Indonesia <.JKSE> slightly lower, while Singapore <.FTSTI> erased some of its early gains, ending up 0.4 percent.
Flows were mixed, with Jakarta reporting $19 million in outflows, Kuala Lumpur taking in 108 million ringgit ($34.5 million) in inflows and Bangkok posting $21.8 million in inflows, according to Thomson Reuters and stock exchange data.
Singapore's central bank eased monetary policy on Friday by containing the future pace of gains in its currency.
The benchmark S&P 500 posted back-to-back weekly gains for the first time since early July while the euro headed for its best week in nine months against the U.S. dollar and gold marked its biggest weekly rise in six weeks.
The Dow Jones industrial average <.DJI> closed up 166.36 points, or 1.45 percent, at 11,644.49. The Standard & Poor's 500 Index <.SPX> gained 20.92 points, or 1.74 percent, at 1,224.58. The Nasdaq Composite Index <.IXIC> added 47.61 points, or 1.82 percent, at 2,667.85.
NYMEX-NEW YORK, Oct 14 (Reuters) - U.S. crude oil futures settled at a three-week high on Friday, regaining strength after two days of losses, on a jump in retail sales and rising hopes that the euro zone debt crisis would be contained.
U.S. monthly retail sales rose 1.1 percent in September, better than forecast, and adding to recent data showing that the economy was on the mend, although slowly.
On the New York Mercantile Exchange, crude for November delivery
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade closed higher for a fifth straight session, buoyed by a setback in the U.S. dollar, firm cash markets and hopes that China might buy more U.S. soy, traders said.
Market also lifted by long soy/short corn spreading amid tightening U.S. soybean stocks.
FCPO-JAKARTA, Oct 14 (Reuters) - Malaysian palm oil futures extended gains to hit a two-week high on Friday and posted a near 5 percent increase this week, as a positive export outlook and expectations of Chinese soy re-stocking, offset economic uncertainty.
Benchmark December palm oil futures
Traded volumes were 10,894 lots of 25 tonnes each, versus 8,095 lots on Thursday.
REGIONAL EQUITIES-BANGKOK, Oct 14 (Reuters) - Most Southeast Asian stock markets gained on Friday as hopes of progress on the euro zone's debt problems helped ease concerns about the global economy and flood-hit Thai stocks steadied.
Investors locked in quick profits in some markets that pulled stocks in Malaysia <.KLSE> and Indonesia <.JKSE> slightly lower, while Singapore <.FTSTI> erased some of its early gains, ending up 0.4 percent.
Flows were mixed, with Jakarta reporting $19 million in outflows, Kuala Lumpur taking in 108 million ringgit ($34.5 million) in inflows and Bangkok posting $21.8 million in inflows, according to Thomson Reuters and stock exchange data.
Singapore's central bank eased monetary policy on Friday by containing the future pace of gains in its currency.
Friday, October 14, 2011
Trader's Highlight
DJI - NEW YORK, Oct 13 (Reuters) - The Dow and S&P 500 slipped on Thursday after JPMorgan's earnings and China's soft trade data revived worries about the impact of slower growth on profits.
The declines put an end to three straight days of gains that capped off a 12 percent increase in the S&P 500 since hitting a low on Oct. 4. The Nasdaq stayed in positive
territory, helped by semiconductor shares.
The Dow Jones industrial average <.DJI> fell 40.72 points, or 0.35 percent, to end at 11,478.13. The Standard & Poor's 500 Index <.SPX> shed 3.59 points, or 0.30 percent, to 1,203.66. But the Nasdaq Composite Index <.IXIC> gained 15.51 points, or 0.60 percent, to close at 2,620.24.
NYMEX - NEW YORK, Oct 13 (Reuters) - U.S. crude futures fell a second straight session on Thursday as soft economic data from China and a report showing rising crude stockpiles in the United States offset drops in product stocks that helped lift heating oil and gasoline futures.
China's trade surplus narrowed for a second straight month in September to $14.5 billion, with both imports and exports lower than expected, reflecting global economic weakness and domestic cooling.
On the New York Mercantile Exchange, November crude fell $1.34 to settle at $84.23 a barrel, trading from $83.17 to $85.39.
CBOT - SOYBEANS, Soybean futures on the Chicago Board of Trade ended higher for a fourth session, gaining against corn on inter-market spreads a day after the U.S. government trimmed its U.S. soy crop and stocks estimates, traders said.
China, the world's top soy buyer, imported 4.13 million tonnes of soybeans in September, down 11 percent from the year-ago period, Chinese customs data showed. Traders expected imports to pick up for the rest of the year as crushing margins
improve.
FCPO - JAKARTA, Oct 13 (Reuters) - Malaysian palm oil futures closed lower on Thursday as the market booked profits after a U.S. report raised the outlook for grain supply that weighed on food commodities.
The U.S. Department of Agriculture made sharply higher revision to global stocks of nearly every type of grain except or U.S. soybeans that are usually crushed to make competing soyoil.
Benchmark December palm oil futures on the Bursa Malaysia Derivatives Exchange ended 0.7 percent lower at 2,844 Malaysian ringgit ($908) a tonne. The
previous day, the contract hit a near two week high.
REGIONAL EQUITIES - BANGKOK, Oct 13 (Reuters) - Most Southeast Asian stock markets edged up on Thursday as optimism that Europe will take concrete steps to contain its debt woes revived risk appetite but Thai floods hit manufacturing stocks.
Some markets scaled multi-week highs, with active trading volume for most, as foreign funds further built up positions. Malaysia's main share index <.KLSE> climbed 1.15 percent, rising for a third day to a four-week high.
Singapore-listed developers Hongkong Land Holdings Ltd and CapitaMalls Asia Ltd , which have Chinese properties, outperformed the benchmark Straits Times Index <.FTSTI>, boosted by a rally in their Chinese peers listed in
Hong Kong.
The declines put an end to three straight days of gains that capped off a 12 percent increase in the S&P 500 since hitting a low on Oct. 4. The Nasdaq stayed in positive
territory, helped by semiconductor shares.
The Dow Jones industrial average <.DJI> fell 40.72 points, or 0.35 percent, to end at 11,478.13. The Standard & Poor's 500 Index <.SPX> shed 3.59 points, or 0.30 percent, to 1,203.66. But the Nasdaq Composite Index <.IXIC> gained 15.51 points, or 0.60 percent, to close at 2,620.24.
NYMEX - NEW YORK, Oct 13 (Reuters) - U.S. crude futures fell a second straight session on Thursday as soft economic data from China and a report showing rising crude stockpiles in the United States offset drops in product stocks that helped lift heating oil and gasoline futures.
China's trade surplus narrowed for a second straight month in September to $14.5 billion, with both imports and exports lower than expected, reflecting global economic weakness and domestic cooling.
On the New York Mercantile Exchange, November crude
CBOT - SOYBEANS, Soybean futures on the Chicago Board of Trade ended higher for a fourth session, gaining against corn on inter-market spreads a day after the U.S. government trimmed its U.S. soy crop and stocks estimates, traders said.
China, the world's top soy buyer, imported 4.13 million tonnes of soybeans in September, down 11 percent from the year-ago period, Chinese customs data showed. Traders expected imports to pick up for the rest of the year as crushing margins
improve.
FCPO - JAKARTA, Oct 13 (Reuters) - Malaysian palm oil futures closed lower on Thursday as the market booked profits after a U.S. report raised the outlook for grain supply that weighed on food commodities.
The U.S. Department of Agriculture made sharply higher revision to global stocks of nearly every type of grain except or U.S. soybeans that are usually crushed to make competing soyoil.
Benchmark December palm oil futures on the Bursa Malaysia Derivatives Exchange ended 0.7 percent lower at 2,844 Malaysian ringgit ($908) a tonne. The
previous day, the contract hit a near two week high.
REGIONAL EQUITIES - BANGKOK, Oct 13 (Reuters) - Most Southeast Asian stock markets edged up on Thursday as optimism that Europe will take concrete steps to contain its debt woes revived risk appetite but Thai floods hit manufacturing stocks.
Some markets scaled multi-week highs, with active trading volume for most, as foreign funds further built up positions. Malaysia's main share index <.KLSE> climbed 1.15 percent, rising for a third day to a four-week high.
Singapore-listed developers Hongkong Land Holdings Ltd
Hong Kong.
Thursday, October 13, 2011
Trader's highlight
DJI -NEW YORK, Oct 12 (Reuters) - World stocks advanced for a sixth straight day on Wednesday and the euro rose against the U.S. dollar after the final nation in the euro zone reached a deal to strengthen a regional bailout fund, boosting investor confidence.
On Wall Street, the benchmark S&P 500 stock index compiled a gain of 9.8 percent over the past seven sessions, its steepest advance since mid-March 2009.
The Dow Jones industrial average <.DJI> added 102.55 points, or 0.90 percent, to 11,518.85. The S&P 500 <.SPX> was up 11.71 points, or 0.98 percent, to 1,207.25. The Nasdaq Composite <.IXIC> rose 21.70 points, or 0.84 percent, to 2,604.73.
NYMEX - NEW YORK, Oct 12 (Reuters) - U.S. crude oil futures closed lower for the first time in six sessions on Wednesday as investors took profits after gains of more than 13 percent during the previous five sessions.
The late bout of profit-taking developed ahead of weekly inventory reports, in which domestic crude inventories were forecast to have increased in the week to Oct. 7.
On the New York Mercantile Exchange, crude for November delivery
CBOT - SOYBEANS, Soybean futures on the Chicago Board of Trade closed higher, the third straight daily rise, after the U.S. Department of Agriculture cut its forecasts of U.S. 2011/12 soy yield and ending stocks.
USDA lowered its forecast of U.S. 2011/12 soy ending stocks to 160 million bushels, from 165 million. The figure was below the average trade estimate of 183 million.
FCPO - SINGAPORE, Oct 12 (Reuters) - Malaysian palm oil futures climbed to a near two-week high on Wednesday, as short covering ahead of a key agriculture report from the United States lifted the market.
The U.S. Department of Agriculture (USDA) will update its estimates of U.S. corn and soybean crops later in the day, and in the past, such reports have triggered sharp rallies by showing stocks or crops dramatically smaller than trade expectations.
December palm oil futures <0#FCPO:> on the Bursa Malaysia Derivatives Exchange settled 2.3 percent higher at 2,864 ringgit ($911) a tonne. It earlier hit 2,879 ringgit -- the highest since Sept 30.
REGIONAL EQUITIES - BANGKOK, Oct 12 (Reuters) - Southeast Asian stock markets pushed higher on Wednesday as investors bought commodities-related shares, while an Indonesian interest rate cut helped spur buying in banks.
Among bright spots in the region, palm oil stocks gained as Malaysian palm oil futures rose to a one-week high, buoyed by gains in comparative vegetable oils ahead of a key agriculture report from the United States.
Singapore-listed Wilmar International Ltd
Wednesday, October 12, 2011
Trader's Highlight
DJI-NEW YORK, Oct 11 (Reuters) - Wall Street stocks rose on Tuesday as traders took positions in beaten-down shares ahead of the start of the earnings season.
But gains were held in check as investors were cautious before a key vote by Slovakia on expanding the euro zone rescue fund.
The Dow Jones industrial average <.DJI> was up 7.26 points, or 0.06 percent, at 11,440.44. The Standard & Poor's 500 Index <.SPX> added 2.15 points, or 0.18 percent, at 1,197.04. The Nasdaq Composite Index <.IXIC> put on 17.25 points, or 0.6percent, at 2,583.30.
NYMEX-NEW YORK, Oct 11 (Reuters) - U.S. crude futures rose a fifth straight session on Tuesday, pushing up from lows as equities recovered from a weak start and receiving a late lift from news that authorities broke up an alleged plot to bomb Israeli and Saudi Arabian embassies in Washington.
But U.S. crude prices pared gains and briefly turned lower in post-settlement trading on news that Slovakia's government lost a confidence vote called on a plan to bolster the euro zone's EFSF rescue fund, but the package was expected to go through in a later revote because the outgoing prime minister planned to ask for help from the opposition.
On the New York Mercantile Exchange, November crude rose 40 cents, or 0.47 percent, to settle at $85.81 a barrel, $83.97 to $86.64.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade soared 4.8 percent by the closing bell, their biggest single-day rise in a year, as traders covered short positions ahead of a monthly U.S. government crop report, traders said.
Talk that China may have bought six to eight cargoes of soybeans since Friday, mostly from the United States, added support.
FCPO-JAKARTA, Oct 11 (Reuters) - Malaysian palm oil futures closed higher on Tuesday on strong exports, but gains were limited by caution ahead of a key U.S. report this week that could show a rise in soybean stocks, which could mean larger supplies of a competing edible oil.
Any rise in soyoil supply comes as Malaysian palm oil stocks hit a 21 month high in September, potentially pressuring benchmark palm oil futures that have lost more than 25 percent so far this year.
December palm oil futures <0#FCPO:> on the Bursa Malaysia Derivatives Exchange closed up 0.3 percent to 2,801 ringgit ($896) per tonne.
Traded volumes for the December contract stood at 12,761 lots of 25 tonnes each compared with 13,270 lots on Monday.
REGIONAL EQUITIES-BANGKOK, Oct 11 (Reuters) - Southeast Asian stock markets clawed higher on Tuesday, led by financials and commodity-related shares amid cautious optimism that European banks may avert a financial crisis, and Indonesian shares got an additional lift from a surprise interest rate cut.
Trading volume was solid for most of the markets as players picked up recently beaten-down blue chips and foreigners returned.
Malaysia <.KLSE> rose 1.05 percent, Singapore <.FTSTI> edged up 0.9 percent and the Philippines <.PSI> climbed 1.7 percent, each hitting their highest in almost three weeks at one point.
In Singapore, banks outperformed the broader market, as China bought shares in local banks to support stock prices, which eased fears of a hard landing and was seen as an indication its government would support its banking system. DBS Group Holdings Ltd rose 2.5 percent.
But gains were held in check as investors were cautious before a key vote by Slovakia on expanding the euro zone rescue fund.
The Dow Jones industrial average <.DJI> was up 7.26 points, or 0.06 percent, at 11,440.44. The Standard & Poor's 500 Index <.SPX> added 2.15 points, or 0.18 percent, at 1,197.04. The Nasdaq Composite Index <.IXIC> put on 17.25 points, or 0.6percent, at 2,583.30.
NYMEX-NEW YORK, Oct 11 (Reuters) - U.S. crude futures rose a fifth straight session on Tuesday, pushing up from lows as equities recovered from a weak start and receiving a late lift from news that authorities broke up an alleged plot to bomb Israeli and Saudi Arabian embassies in Washington.
But U.S. crude prices
On the New York Mercantile Exchange, November crude
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade soared 4.8 percent by the closing bell, their biggest single-day rise in a year, as traders covered short positions ahead of a monthly U.S. government crop report, traders said.
Talk that China may have bought six to eight cargoes of soybeans since Friday, mostly from the United States, added support.
FCPO-JAKARTA, Oct 11 (Reuters) - Malaysian palm oil futures closed higher on Tuesday on strong exports, but gains were limited by caution ahead of a key U.S. report this week that could show a rise in soybean stocks, which could mean larger supplies of a competing edible oil.
Any rise in soyoil supply comes as Malaysian palm oil stocks hit a 21 month high in September, potentially pressuring benchmark palm oil futures that have lost more than 25 percent so far this year.
December palm oil futures <0#FCPO:> on the Bursa Malaysia Derivatives Exchange closed up 0.3 percent to 2,801 ringgit ($896) per tonne.
Traded volumes for the December contract stood at 12,761 lots of 25 tonnes each compared with 13,270 lots on Monday.
REGIONAL EQUITIES-BANGKOK, Oct 11 (Reuters) - Southeast Asian stock markets clawed higher on Tuesday, led by financials and commodity-related shares amid cautious optimism that European banks may avert a financial crisis, and Indonesian shares got an additional lift from a surprise interest rate cut.
Trading volume was solid for most of the markets as players picked up recently beaten-down blue chips and foreigners returned.
Malaysia <.KLSE> rose 1.05 percent, Singapore <.FTSTI> edged up 0.9 percent and the Philippines <.PSI> climbed 1.7 percent, each hitting their highest in almost three weeks at one point.
In Singapore, banks outperformed the broader market, as China bought shares in local banks to support stock prices, which eased fears of a hard landing and was seen as an indication its government would support its banking system. DBS Group Holdings Ltd
Tuesday, October 11, 2011
Trader's Highlight
DJI-NEW YORK, Oct 10 (Reuters) - U.S. stocks jumped 3 percent on Monday, extending gains into a second week as a pledge by German and French leaders boosted hopes that the euro-zone debt crisis may be resolved.
The gains lifted the S&P 500 above its 50-day moving average for the first time since late July, a bullish technical signal. The S&P 500 is now up about 11 percent since its low on Tuesday, when it briefly fell into bear-market territory.
The Dow Jones industrial average <.DJI> surged 330.06 points, or 2.97 percent, to end at 11,433.18. The Standard & Poor's 500 Index <.SPX> climbed 39.43 points, or 3.41 percent, to 1,194.89. The Nasdaq Composite Index <.IXIC> shot up 86.70 points, or 3.50 percent, to close at 2,566.05.
NYMEX-NEW YORK, Oct 10 (Reuters) - U.S. crude rose on Monday for a fourth consecutive session, boosted by the promise from France and Germany to unveil a plan to address the region's debt woes and by a strike that halted Kuwaiti crude oil exports.
The leaders of Germany and France on Sunday promised to unveil new measures to solve the euro zone's debt crisis by the end of the month.
On the New York Mercantile Exchange, November crude rose $2.43, or 2.93 percent, to settle at $85.41 a barrel, trading from $82.75 to $86.09.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade closed up nearly 2 percent, joining a broad rally in commodities after France and Germany said they would come up with a plan to contain the euro zone crisis.
The U.S. dollar index <.DXY> slid nearly 1.6 percent on the news, buoying dollar-denominated commodities including grains and crude oil.
FCPO-JAKARTA, Oct 10 (Reuters) - Malaysian palm oil rose as much as 1.7 percent on Monday, with prices supported by export data in second largest producer Malaysia and hopes that Europe's debt crisis will be resolved soon, but gains were capped by news of rising inventories.
The benchmark December palm oil futures <0#FCPO:> on the Bursa Malaysia Derivatives Exchange closed 0.8 percent higher at 2,793 ringgit ($884) per tonne. It had earlier hit an intraday high of 2,818 ringgit a tonne.
Traded volumes for the December contract stood at 13,270 lots of 25 tonnes each compared with 12,133 lots on Friday.
REGIONAL EQUITIES-Oct 10 (Reuters) - Most Southeast Asian stock markets gained on Monday in thin trade led by commodity-related shares as optimisim over the latest plan to solve the euro zone's debt crisis and positive U.S. job data lifted sentiment.
Thailand <.SETI> and Singapore <.FTSTI> rose 1.5 percent and 1.1 percent respectively, Indonesia <.JKSE> ended 0.7 percent firmer, and the Philippines <.PSI> added 0.8 percent to a three-week high.
Malaysia and the Philippines saw a net outflow of $5.6 million and $7.8 million respectively, while Jakarta's net foreign selling was $0.6 million. Thailand saw an outflow of $3.5 million.
In Singapore, commodity firm Wilmar International gained 3 percent while oil and gas firm STX OSV Holdings jumped 6.6 percent, outperforming the broad market. Malaysia <.KLSE> bucked the trend, closing 0.2 percent weaker.
The gains lifted the S&P 500 above its 50-day moving average for the first time since late July, a bullish technical signal. The S&P 500 is now up about 11 percent since its low on Tuesday, when it briefly fell into bear-market territory.
The Dow Jones industrial average <.DJI> surged 330.06 points, or 2.97 percent, to end at 11,433.18. The Standard & Poor's 500 Index <.SPX> climbed 39.43 points, or 3.41 percent, to 1,194.89. The Nasdaq Composite Index <.IXIC> shot up 86.70 points, or 3.50 percent, to close at 2,566.05.
NYMEX-NEW YORK, Oct 10 (Reuters) - U.S. crude rose on Monday for a fourth consecutive session, boosted by the promise from France and Germany to unveil a plan to address the region's debt woes and by a strike that halted Kuwaiti crude oil exports.
The leaders of Germany and France on Sunday promised to unveil new measures to solve the euro zone's debt crisis by the end of the month.
On the New York Mercantile Exchange, November crude
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade closed up nearly 2 percent, joining a broad rally in commodities after France and Germany said they would come up with a plan to contain the euro zone crisis.
The U.S. dollar index <.DXY> slid nearly 1.6 percent on the news, buoying dollar-denominated commodities including grains and crude oil.
FCPO-JAKARTA, Oct 10 (Reuters) - Malaysian palm oil rose as much as 1.7 percent on Monday, with prices supported by export data in second largest producer Malaysia and hopes that Europe's debt crisis will be resolved soon, but gains were capped by news of rising inventories.
The benchmark December palm oil futures <0#FCPO:> on the Bursa Malaysia Derivatives Exchange closed 0.8 percent higher at 2,793 ringgit ($884) per tonne. It had earlier hit an intraday high of 2,818 ringgit a tonne.
Traded volumes for the December contract stood at 13,270 lots of 25 tonnes each compared with 12,133 lots on Friday.
REGIONAL EQUITIES-Oct 10 (Reuters) - Most Southeast Asian stock markets gained on Monday in thin trade led by commodity-related shares as optimisim over the latest plan to solve the euro zone's debt crisis and positive U.S. job data lifted sentiment.
Thailand <.SETI> and Singapore <.FTSTI> rose 1.5 percent and 1.1 percent respectively, Indonesia <.JKSE> ended 0.7 percent firmer, and the Philippines <.PSI> added 0.8 percent to a three-week high.
Malaysia and the Philippines saw a net outflow of $5.6 million and $7.8 million respectively, while Jakarta's net foreign selling was $0.6 million. Thailand saw an outflow of $3.5 million.
In Singapore, commodity firm Wilmar International
Monday, October 10, 2011
Breaking News-RTRS - Buyers resell Indonesia crude palm oil after tax change, eye Malaysia
KUALA LUMPUR, Oct 7 (Reuters) - Foreign buyers sold back at least 200,000 tonnes of Indonesian crude palm oil to refiners since mid-September when Jakarta slashed export taxes on the processed grade and made minor cuts for duties on the crude grade, traders said on Friday.
The buyers -- including trading houses and processors -- have switched over to Malaysian crude palm oil from plantations who have not finished their tax free export quota on the grade, traders from Indonesia and Malaysia said.
Malaysia, the world's No.2 producer, imposes very high export taxes on crude palm oil to protect its refining industry but has allowed for firms such as Sime Darby and IOI Corp to export the grade without any duties.
The buyers -- including trading houses and processors -- have switched over to Malaysian crude palm oil from plantations who have not finished their tax free export quota on the grade, traders from Indonesia and Malaysia said.
Malaysia, the world's No.2 producer, imposes very high export taxes on crude palm oil to protect its refining industry but has allowed for firms such as Sime Darby
Breaking News-RTRS - ANALYSIS-India could burn fingers with aid to domestic palm refiners
KUALA LUMPUR/NEW DELHI, Oct 7 (Reuters) - India's plan to hike a domestic levy on refined palm oil, designed to protect its refiners from cheaper exports by top palm oil producer Indonesia, will backfire in the absence of rival suppliers to meet the appetite of the south Asian nation.
The world's top edible oil buyer could end up spending more on Indonesian crude palm oil, which has risen as high as $84 over benchmark Malaysian futures after Indonesia raised taxes on the crude in the middle of September.
At the same time, Indonesia halved taxes on refined palm oil so as to boost exports as part of its tax system that aims to encourage downstream industries, secure domestic supplies and reduce volatility in cooking oil prices.
The world's top edible oil buyer could end up spending more on Indonesian crude palm oil
At the same time, Indonesia halved taxes on refined palm oil so as to boost exports as part of its tax system that aims to encourage downstream industries, secure domestic supplies and reduce volatility in cooking oil prices.
Trader's Highlight
DJI-NEW YORK, Oct 7 (Reuters) - U.S. stocks ended lower on Friday, but European and Asian equities markets mostly finished higher, after several days of gains supported by assurances that European banks would be recapitalized to help deal with a potential debt default by Greece.
After falling on Monday to the worst levels in 13 months, the three major U.S. stock indexes finished Friday's session with gains for the week -- helped by encouraging U.S. jobs data, which prompted some buying late in the day. But those gains quickly vanished as investors switched focus near the close to focus on downgrades of the credit ratings of Spain and Italy.
The Dow Jones industrial average <.DJI> ended Friday down just 20.21 points, or 0.18percent, at 11,103.12. The Standard & Poor's 500 Index <.SPX> fell 9.51 points, or 0.82 percent, at 1,155.46. The Nasdaq Composite Index <.IXIC> dropped 27.47 points, or 1.10 percent, at 2,479.35.
NYMEX-NEW YORK, Oct 7 (Reuters) - Speculators cut their net long positions in U.S. crude oil futures and options in the week to Oct. 4 when prices slipped, data from the U.S. Commodity Futures Trading Commission showed on Friday.
Hedge funds and other large investors reduced their net long positions on the New York Mercantile Exchange by more than 8,500 contracts to end Tuesday at 146,304. U.S. crude oil futures dropped from $84.45 a barrel on Sept. 27 to $75.67 a barrel on Oct. 4.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade fell modestly on Friday, pressured by favorable U.S. harvest weather and spillover from a broader sell-off in commodities after the debt of Italy and Spain was downgraded, traders said.
The U.S. dollar <.DXY>, which had weakened earlier, supporting commodities, reversed course and firmed after the moves by credit rating agency Fitch added to the bad news in Europe's credit and banking crisis.
FCPO-KUALA LUMPUR, Oct 7 (Reuters) - Malaysian palm oil fell on Friday and notched its worst weekly showing since June as short-sellers tapped on concerns of euro zone debt plunging the world into a recession.
The sellers, led by a major Singapore-listed planter with assets in Asia, had earlier pushed the market lower for much of the week. At one point the market hit a one-year low of 2,754 ringgit.
The benchmark December palm oil futures <0#FCPO:> on the Bursa Malaysia Derivatives Exchange settled down 1.3 percent to 2,772 ringgit ($872) per tonne.
Overall traded volumes were light at 21,749 lots of 25 tonnes each from the usual 25,000 lots.
REGIONAL EQUITIES-BANGKOK, Oct 7 (Reuters) - Some Southeast Asian stock markets pushed higher on Friday as buyers picked up commodity-related and big-cap shares following moves by euro zone policymakers to solve the bloc's debt crisis, although trade was cautious ahead of U.S. job data.
The region's markets had a choppy session in light to moderate trading volume, with short-term traders shifting money into selected blue chips that may have been oversold in the recent downturn.
Singapore <.FTSTI> climbed 1.4 percent as a rise in oil prices lifted energy-related stocks, led by a 5.6 percent surge in rig builder Keppel Corp Ltd.
Malaysia <.KLSE> gained 0.5 percent amid optimism about the 2012 budget that was unveiled during the afternoon. Traditionally, stocks in Malaysia rise ahead of budget day on expectations about government spending but fall afterwards, traders said.
After falling on Monday to the worst levels in 13 months, the three major U.S. stock indexes finished Friday's session with gains for the week -- helped by encouraging U.S. jobs data, which prompted some buying late in the day. But those gains quickly vanished as investors switched focus near the close to focus on downgrades of the credit ratings of Spain and Italy.
The Dow Jones industrial average <.DJI> ended Friday down just 20.21 points, or 0.18percent, at 11,103.12. The Standard & Poor's 500 Index <.SPX> fell 9.51 points, or 0.82 percent, at 1,155.46. The Nasdaq Composite Index <.IXIC> dropped 27.47 points, or 1.10 percent, at 2,479.35.
NYMEX-NEW YORK, Oct 7 (Reuters) - Speculators cut their net long positions in U.S. crude oil futures and options in the week to Oct. 4 when prices slipped, data from the U.S. Commodity Futures Trading Commission showed on Friday.
Hedge funds and other large investors reduced their net long positions on the New York Mercantile Exchange by more than 8,500 contracts to end Tuesday at 146,304. U.S. crude oil futures dropped from $84.45 a barrel on Sept. 27 to $75.67 a barrel on Oct. 4.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade fell modestly on Friday, pressured by favorable U.S. harvest weather and spillover from a broader sell-off in commodities after the debt of Italy and Spain was downgraded, traders said.
The U.S. dollar <.DXY>, which had weakened earlier, supporting commodities, reversed course and firmed after the moves by credit rating agency Fitch added to the bad news in Europe's credit and banking crisis.
FCPO-KUALA LUMPUR, Oct 7 (Reuters) - Malaysian palm oil fell on Friday and notched its worst weekly showing since June as short-sellers tapped on concerns of euro zone debt plunging the world into a recession.
The sellers, led by a major Singapore-listed planter with assets in Asia, had earlier pushed the market lower for much of the week. At one point the market hit a one-year low of 2,754 ringgit.
The benchmark December palm oil futures <0#FCPO:> on the Bursa Malaysia Derivatives Exchange settled down 1.3 percent to 2,772 ringgit ($872) per tonne.
Overall traded volumes were light at 21,749 lots of 25 tonnes each from the usual 25,000 lots.
REGIONAL EQUITIES-BANGKOK, Oct 7 (Reuters) - Some Southeast Asian stock markets pushed higher on Friday as buyers picked up commodity-related and big-cap shares following moves by euro zone policymakers to solve the bloc's debt crisis, although trade was cautious ahead of U.S. job data.
The region's markets had a choppy session in light to moderate trading volume, with short-term traders shifting money into selected blue chips that may have been oversold in the recent downturn.
Singapore <.FTSTI> climbed 1.4 percent as a rise in oil prices lifted energy-related stocks, led by a 5.6 percent surge in rig builder Keppel Corp Ltd
Malaysia <.KLSE> gained 0.5 percent amid optimism about the 2012 budget that was unveiled during the afternoon. Traditionally, stocks in Malaysia rise ahead of budget day on expectations about government spending but fall afterwards, traders said.
Tuesday, October 4, 2011
Trader's Highlight
DJI-NEW YORK, Oct 3 (Reuters) - U.S. stocks slumped in heavy volume to a 13-month low on Monday as investors dumped bank shares on fears that Greece's worsening financial crisis could cause a large European lender to fail.
Investors pegged losses to the sharp fall in Franco-Belgian financial group Dexia, which fell 10 percent after a Moody's warning about its liquidity due to concerns about exposure to Greece.
Markets have feared European officials will be unable to prevent Greece's fiscal crisis from turning into a global banking crisis. Greece said it will miss its deficit targets this year and next, which could limit the country's ability to receive more aid.
The Dow Jones industrial average <.DJI> dropped 258.08 points, or 2.36 percent, to 10,655.30. The S&P 500 <.SPX> fell 32.19 points, or 2.85 percent, to 1,099.23. The Nasdaq Composite <.IXIC> lost 79.57 points, or 3.29 percent, to 2,335.83.
NYMEX-NEW YORK, Oct 3 (Reuters) - U.S. crude oil futures fell
more than 2 percent on Monday to the lowest settlement in 12 months, as fears that Greece might default on its debt outweighed positive U.S. economic data on manufacturing, construction and new vehicle sales.
Crude futures extended losses for a second day after dropping 17 percent for the third quarter, which ended on Friday, the worst performance for U.S. crude since the fourth quarter of 2008, at the height of the financial crisis.
On the New York Mercantile Exchange, crude for November delivery dropped for a second straight day and settled at $77.61 a barrel, falling $1.59, or 2.01 percent, after trading from $76.85 to $79.64. It was the lowest settlement for front-month crude since Sept. 28, 2010, when prices ended at $76.18.
CBOT-SOYBEANS-Soybean futures at the Chicago Board of Trade fell,
extending Friday's sell-off, as a firm dollar prompted more fund
long liquidation, traders said.
Selling also was triggered by forecasts for beneficial harvest weather in the U.S. Midwest, traders said.
FCPO-KUALA LUMPUR, Oct 3 (Reuters) - Malaysian palm oil futures tumbled to one-year lows on Monday on concerns that the euro zone's deepening debt crisis will stall global economic growth and commodity demand.
Palm oil prices, which have lost more than a quarter so far this year, took another hit after funds liquidated their positions in global grains and vegetable oil markets to close up third-quarter books.
Benchmark December palm oil futures <0#FCPO:> on the Bursa Malaysia Derivatives Exchange fell as much as 2.7 percent to 2,827 ringgit ($885.51) a tonne, the lowest since Oct. 8 last year. The contract later settled at 2,845 ringgit. Overall traded volumes stood at 25,008 lots of 25 tonnes each.
REGIONAL EQUITIES-BANGKOK, Oct 3 (Reuters) - Stocks in Indonesia and Thailand tumbled more than 5 percent on Monday, leading the rest of Southeast Asia lower as commodity-related shares were hit by fears about the global economy as the euro zone debt crisis dragged on.
Local currencies weakened as offshore funds cut exposure to the region. The unresolved problems in Europe plus the risk of recession in the United States made investors wary of returning to riskier assets.
World stocks also kicked off the final quarter of the year sharply lower as concern grew that a broad Greek debt default may be in the works after figures showed Athens would miss a deficit target.
By 0923 GMT, the MSCI world equity index <.MIWD00000PUS> was down 1.26 percent while the MSCI's broadest index of Asia Pacific shares outside Japan <.MIAPJ0000PUS> had dropped 3.5 percent.
Commodities-related shares led losers amid a weak outlook
or demand and prices. Thailand's top energy firm, PTT, sank 6.2 percent to the lowest in more than a year.
Malaysia's Petronas Chemicals dropped 1.4 percent and Indonesian coal miner Adaro Energy slid 6.4 percent.
Investors pegged losses to the sharp fall in Franco-Belgian financial group Dexia
Markets have feared European officials will be unable to prevent Greece's fiscal crisis from turning into a global banking crisis. Greece said it will miss its deficit targets this year and next, which could limit the country's ability to receive more aid.
The Dow Jones industrial average <.DJI> dropped 258.08 points, or 2.36 percent, to 10,655.30. The S&P 500 <.SPX> fell 32.19 points, or 2.85 percent, to 1,099.23. The Nasdaq Composite <.IXIC> lost 79.57 points, or 3.29 percent, to 2,335.83.
NYMEX-NEW YORK, Oct 3 (Reuters) - U.S. crude oil futures fell
more than 2 percent on Monday to the lowest settlement in 12 months, as fears that Greece might default on its debt outweighed positive U.S. economic data on manufacturing, construction and new vehicle sales.
Crude futures extended losses for a second day after dropping 17 percent for the third quarter, which ended on Friday, the worst performance for U.S. crude since the fourth quarter of 2008, at the height of the financial crisis.
On the New York Mercantile Exchange, crude for November delivery
CBOT-SOYBEANS-Soybean futures at the Chicago Board of Trade fell,
extending Friday's sell-off, as a firm dollar prompted more fund
long liquidation, traders said.
Selling also was triggered by forecasts for beneficial harvest weather in the U.S. Midwest, traders said.
FCPO-KUALA LUMPUR, Oct 3 (Reuters) - Malaysian palm oil futures tumbled to one-year lows on Monday on concerns that the euro zone's deepening debt crisis will stall global economic growth and commodity demand.
Palm oil prices, which have lost more than a quarter so far this year, took another hit after funds liquidated their positions in global grains and vegetable oil markets to close up third-quarter books.
Benchmark December palm oil futures <0#FCPO:> on the Bursa Malaysia Derivatives Exchange fell as much as 2.7 percent to 2,827 ringgit ($885.51) a tonne, the lowest since Oct. 8 last year. The contract later settled at 2,845 ringgit. Overall traded volumes stood at 25,008 lots of 25 tonnes each.
REGIONAL EQUITIES-BANGKOK, Oct 3 (Reuters) - Stocks in Indonesia and Thailand tumbled more than 5 percent on Monday, leading the rest of Southeast Asia lower as commodity-related shares were hit by fears about the global economy as the euro zone debt crisis dragged on.
Local currencies weakened as offshore funds cut exposure to the region. The unresolved problems in Europe plus the risk of recession in the United States made investors wary of returning to riskier assets.
World stocks also kicked off the final quarter of the year sharply lower as concern grew that a broad Greek debt default may be in the works after figures showed Athens would miss a deficit target.
By 0923 GMT, the MSCI world equity index <.MIWD00000PUS> was down 1.26 percent while the MSCI's broadest index of Asia Pacific shares outside Japan <.MIAPJ0000PUS> had dropped 3.5 percent.
Commodities-related shares led losers amid a weak outlook
or demand and prices. Thailand's top energy firm, PTT
Malaysia's Petronas Chemicals
Monday, October 3, 2011
Trader's Highlight
DJI-NEW YORK, Sept 30 (Reuters) - U.S. stocks ended their worst
quarter since the depths of the 2008 credit crisis, crippled by Europe's debt debacle, a U.S. credit downgrade and a sputtering global economy.
A steep slide on Friday closed out a fifth month of losses as weak economic data from China sparked fears of a global economic slowdown while investment bank Morgan Stanley plummeted on concerns about its exposure to European banks.
The Dow Jones industrial average <.DJI> dropped 240.60 points, or 2.16 percent, to 10,913.38. The Standard & Poor's 500 Index <.SPX> fell 28.98 points, or 2.50 percent, to 1,131.42. The Nasdaq Composite Index <.IXIC> lost 65.36 points, or 2.63 percent, to 2,415.40.
NYMEX-NEW YORK, Sept 30 (Reuters) - U.S. crude oil futures slumped more than 3 percent on Friday, posting the weakest quarterly performance since since the fourth quarter of 2008, as concerns about global economic growth pressured oil prices.
Weak manufacturing indicators from China, ongoing concerns about Europe's sovereign debt problems and a stronger dollar helped push oil lower.
On the New York Mercantile Exchange, November crude fell $2.94, or 3.58 percent, to settle at $79.20 a barrel, trading from $78.75 to $83.23.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade fell 4 percent in sympathy with corn after the U.S. Department of Agriculture reported larger-than-expected U.S. Sept. 1 corn stocks, traders said.
CBOT soybeans fell 19 percent for September -- the biggest monthly drop in three years -- and ended the quarter down 9 percent.
FCPO-JAKARTA, Sept 30 (Reuters) - Malaysian palm oil edged slightly higher on Friday, supported by expectations of higher demand for edible oils ahead of an Indian festival, with gains capped by lingering worries over the euro zone debt crisis.
Benchmark December palm oil futures <0#FCPO:> on the Bursa Malaysia Derivatives Exchange ended up 0.24 percent to 2,905 Malaysian ringgit ($914) a tonne.
Traded volumes for the December contract stood at 8,204 lots of 25 tonnes each compared with 16,115 lots on Thursday.
REGIONAL EQUITIES-BANGKOK, Sept 30 (Reuters) - Southeast Asian stock markets ended mixed on Friday, some pulling back from early gains at the end of the worst quarter since October-December 2008 after the European debt crisis and a slowing U.S. economy led to a sell-off as investors cut risk.
Market players remained nervous about a further deterioration and most markets were locked in a narrow range on Friday, with low trading volume.
Among hardest hit, Singapore <.FTSTI> fell 1.2 percent and Thailand <.SETI> lost 1.1 percent. Malaysia <.KLSE> and Vietnam <.VNI> posted more limited losses. Indonesia <.JKSE> edged up 0.3 percent and the Philippines <.PSI> jumped 3.2 percent.
Kuala Lumpur posted 42.3 million ringgit ($13.3 million) in outflows while domestic institution bought a net 107 million Malaysian ringgit ($33.7 million) after steady buying this week, stock exchange data showed.
Singapore slumped 14.5 percent in the quarter, ahead of Malaysia's 12.2 percent, Thailand's 12 percent, Indonesia's 8.7 percent and the Philippines' 6.8 percent.
quarter since the depths of the 2008 credit crisis, crippled by Europe's debt debacle, a U.S. credit downgrade and a sputtering global economy.
A steep slide on Friday closed out a fifth month of losses as weak economic data from China sparked fears of a global economic slowdown while investment bank Morgan Stanley
The Dow Jones industrial average <.DJI> dropped 240.60 points, or 2.16 percent, to 10,913.38. The Standard & Poor's 500 Index <.SPX> fell 28.98 points, or 2.50 percent, to 1,131.42. The Nasdaq Composite Index <.IXIC> lost 65.36 points, or 2.63 percent, to 2,415.40.
NYMEX-NEW YORK, Sept 30 (Reuters) - U.S. crude oil futures slumped more than 3 percent on Friday, posting the weakest quarterly performance since since the fourth quarter of 2008, as concerns about global economic growth pressured oil prices.
Weak manufacturing indicators from China, ongoing concerns about Europe's sovereign debt problems and a stronger dollar helped push oil lower.
On the New York Mercantile Exchange, November crude
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade fell 4 percent in sympathy with corn after the U.S. Department of Agriculture reported larger-than-expected U.S. Sept. 1 corn stocks, traders said.
CBOT soybeans fell 19 percent for September -- the biggest monthly drop in three years -- and ended the quarter down 9 percent.
FCPO-JAKARTA, Sept 30 (Reuters) - Malaysian palm oil edged slightly higher on Friday, supported by expectations of higher demand for edible oils ahead of an Indian festival, with gains capped by lingering worries over the euro zone debt crisis.
Benchmark December palm oil futures <0#FCPO:> on the Bursa Malaysia Derivatives Exchange ended up 0.24 percent to 2,905 Malaysian ringgit ($914) a tonne.
Traded volumes for the December contract stood at 8,204 lots of 25 tonnes each compared with 16,115 lots on Thursday.
REGIONAL EQUITIES-BANGKOK, Sept 30 (Reuters) - Southeast Asian stock markets ended mixed on Friday, some pulling back from early gains at the end of the worst quarter since October-December 2008 after the European debt crisis and a slowing U.S. economy led to a sell-off as investors cut risk.
Market players remained nervous about a further deterioration and most markets were locked in a narrow range on Friday, with low trading volume.
Among hardest hit, Singapore <.FTSTI> fell 1.2 percent and Thailand <.SETI> lost 1.1 percent. Malaysia <.KLSE> and Vietnam <.VNI> posted more limited losses. Indonesia <.JKSE> edged up 0.3 percent and the Philippines <.PSI> jumped 3.2 percent.
Kuala Lumpur posted 42.3 million ringgit ($13.3 million) in outflows while domestic institution bought a net 107 million Malaysian ringgit ($33.7 million) after steady buying this week, stock exchange data showed.
Singapore slumped 14.5 percent in the quarter, ahead of Malaysia's 12.2 percent, Thailand's 12 percent, Indonesia's 8.7 percent and the Philippines' 6.8 percent.
Thursday, September 29, 2011
Trader's Highlight
DJI-NEW YORK, Sept 28 (Reuters) - Commodity-related stocks drove Wall Street lower on Wednesday as stiff declines in energy and metals prices underscored investor concerns about global economic weakness and Europe's raging debt crisis.
A sharp 7 percent dive in the price of copper, seen as a leading indicator for the economy, rattled investors and led to a drop of 4.5 percent in the S&P materials index .GSPM. Freeport-McMoRan Copper & Gold Inc FCX.N fell 7.3 percent to $32.29.
The Dow Jones industrial average .DJI dropped 179.79 points, or 1.61 percent, to 11,010.90. The Standard & Poor's 500 Index .SPX dropped 24.32 points, or 2.07 percent, to 1,151.06. The Nasdaq Composite Index .IXIC dropped 55.25 points, or 2.17 percent, to 2,491.58.
NYMEX-NEW YORK, Sept 28 (Reuters) - U.S. crude futures ended more than 3 percent lower on Wednesday, in a broad commodities sell-off ahead of a German parliamentary vote Thursday on whether to back new powers for the euro zone rescue fund.
Whether Greece would get more euro zone aid also added to festering worries about the region's fiscal health.
On the New York Mercantile Exchange, crude for November delivery CLX1 fell back after two days of gains and settled down $3.24, or 3.84 percent, at $81.21 a barrel, after trading from $81.11 to $84.62.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade fell 3.3 percent, the biggest single-day drop in more than six months, and hit a 10-month low as macroeconomic worries and U.S. harvest pressure triggered fund long liquidation, traders said.
A 3.5 percent decline in U.S. crude oil futures amid ongoing concerns over the euro zone crisis added pressure.
Heavy volume in soybean futures at more than 220,000 contracts, roughly 30 percent above the 30-day average. Volume in soymeal and soyoil futures was also large.
FCPO-JAKARTA, Sept 28 (Reuters) - Malaysian palm oil futures fell 1.3 percent on Wednesday, weighed down by losses in other edible oils and investor worries about the ability of European leaders to tackle a debt crisis threatening the global financial system.
Benchmark December palm oil futures 0#FCPO: on the Bursa Malaysia Derivatives Exchange closed at 2,910 ringgit ($925) a tonne. Earlier, prices had fallen as low as 2,885 ringgit.
On Monday, benchmark palm prices fell to 2,857 ringgit, the lowest level in almost one year, and have eased 3 percent so far this week as concerns about the global economy dominate sentiment.
Traded volumes for the November contract stood at 18,649 lots of 25 tonnes each compared with 14,191 lots on Tuesday.
REGIONAL EQUITIES-BANGKOK, Sept 28 (Reuters) - Stocks in Thailand and Singapore fell in light volume on Wednesday as players booked quick profits from a rebound the previous day, while others in the region pushed up cautiously, with the euro zone crisis still hanging over the market.
Trading was choppy, dominated by short-term traders, and foreign flows to Southeast Asia remained thin.
Singapore stocks .FTSTI lost 0.9 percent and Thai stocks .SETI dropped 1.6 percent, reversing an early climb. Stocks in Malaysia .KLSE and Indonesia .JKSE rose for a second session, after Monday's heavy losses.
Investors remain dubious about rebuilding positions in the region, even though valuations now look attractive. However, end-quarter flows from domestic institutions appeared to be on the rise in Thailand and Malaysia.
A sharp 7 percent dive in the price of copper, seen as a leading indicator for the economy, rattled investors and led to a drop of 4.5 percent in the S&P materials index .GSPM. Freeport-McMoRan Copper & Gold Inc FCX.N fell 7.3 percent to $32.29.
The Dow Jones industrial average .DJI dropped 179.79 points, or 1.61 percent, to 11,010.90. The Standard & Poor's 500 Index .SPX dropped 24.32 points, or 2.07 percent, to 1,151.06. The Nasdaq Composite Index .IXIC dropped 55.25 points, or 2.17 percent, to 2,491.58.
NYMEX-NEW YORK, Sept 28 (Reuters) - U.S. crude futures ended more than 3 percent lower on Wednesday, in a broad commodities sell-off ahead of a German parliamentary vote Thursday on whether to back new powers for the euro zone rescue fund.
Whether Greece would get more euro zone aid also added to festering worries about the region's fiscal health.
On the New York Mercantile Exchange, crude for November delivery CLX1 fell back after two days of gains and settled down $3.24, or 3.84 percent, at $81.21 a barrel, after trading from $81.11 to $84.62.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade fell 3.3 percent, the biggest single-day drop in more than six months, and hit a 10-month low as macroeconomic worries and U.S. harvest pressure triggered fund long liquidation, traders said.
A 3.5 percent decline in U.S. crude oil futures amid ongoing concerns over the euro zone crisis added pressure.
Heavy volume in soybean futures at more than 220,000 contracts, roughly 30 percent above the 30-day average. Volume in soymeal and soyoil futures was also large.
FCPO-JAKARTA, Sept 28 (Reuters) - Malaysian palm oil futures fell 1.3 percent on Wednesday, weighed down by losses in other edible oils and investor worries about the ability of European leaders to tackle a debt crisis threatening the global financial system.
Benchmark December palm oil futures 0#FCPO: on the Bursa Malaysia Derivatives Exchange closed at 2,910 ringgit ($925) a tonne. Earlier, prices had fallen as low as 2,885 ringgit.
On Monday, benchmark palm prices fell to 2,857 ringgit, the lowest level in almost one year, and have eased 3 percent so far this week as concerns about the global economy dominate sentiment.
Traded volumes for the November contract stood at 18,649 lots of 25 tonnes each compared with 14,191 lots on Tuesday.
REGIONAL EQUITIES-BANGKOK, Sept 28 (Reuters) - Stocks in Thailand and Singapore fell in light volume on Wednesday as players booked quick profits from a rebound the previous day, while others in the region pushed up cautiously, with the euro zone crisis still hanging over the market.
Trading was choppy, dominated by short-term traders, and foreign flows to Southeast Asia remained thin.
Singapore stocks .FTSTI lost 0.9 percent and Thai stocks .SETI dropped 1.6 percent, reversing an early climb. Stocks in Malaysia .KLSE and Indonesia .JKSE rose for a second session, after Monday's heavy losses.
Investors remain dubious about rebuilding positions in the region, even though valuations now look attractive. However, end-quarter flows from domestic institutions appeared to be on the rise in Thailand and Malaysia.
Wednesday, September 28, 2011
Breaking News- RTRS - China to buy yet more soyoil, palm oil-Oil World
HAMBURG, Sept 27 (Reuters) - China will again sharply raise imports of soyoil, palm oil and soybeans in 2011/12 as insufficient domestic oilseed production continues to be outpaced by rapid demand growth.
“China’s import dependence in the oilseed sector is reaching alarming proportions,” Oil World said.
China’s October 2011/September 2012 soyoil imports will rise to 1.56 million tonnes from 1.51 million tonnes in 2010/11 and palm oil imports will rise to 6.67 million tonnes from 6.06 million tonnes, Oil World forecasts.
Demand continues to be driven by China’s economic growth, rising population and increasing meat consumption as incomes rise, it said.
“China’s import dependence in the oilseed sector is reaching alarming proportions,” Oil World said.
China’s October 2011/September 2012 soyoil imports will rise to 1.56 million tonnes from 1.51 million tonnes in 2010/11 and palm oil imports will rise to 6.67 million tonnes from 6.06 million tonnes, Oil World forecasts.
Demand continues to be driven by China’s economic growth, rising population and increasing meat consumption as incomes rise, it said.
Trader's Highlight
DJI-NEW YORK, Sept 27 (Reuters) - U.S. stocks rose for a third straight day on Tuesday and oil prices jumped on rising hopes European leaders will beef up the euro zone's rescue fund and tackle the region's debt crisis.
The euro also rose for a third straight day as multiple reports showed officials considering plans to make its bailout fund many times larger and to recapitalize banks.
The Dow Jones industrial average .DJI closed up 146.83 points, or 1.33 percent, at 11,190.69. The Standard & Poor's 500 Index .SPX rose 12.43 points, or 1.07 percent, at 1,175.38. The Nasdaq Composite Index .IXIC finished up 30.14 points, or 1.20 percent, at 2,546.83
NYMEX-NEW YORK, Sept 27 (Reuters) - U.S. crude oil futures edged up in post-settlement trading on Tuesday after data from the American Petroleum Institute showed that domestic crude stocks rose less than expected last week and stocks fell sharply at the Cushing, Oklahoma, delivery hub.
Earlier, crude stocks settled more than 5 percent higher, the biggest one-day percentage gain in 4-1/2 months, as euro zone efforts to raise the region's bailout fund and support banks sparked buying in equities and commodities markets.
On the New York Mercantile Exchange, November crude CLX1 settled at $84.45 a barrel, up $4.21, or 5.25 percent, to set the biggest single-day percentage rise since May 9 when prices ended up 5.53 percent. It traded from $80.92 to $84.67.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade ended firmer, joining a broad rally in commodities as fresh measures discussed by the European Central Bank curbed anxieties about European debt.
U.S. crude oil futures CLc1 were up about 5 percent by the CBOT close and the U.S. dollar index .DXY was down 1.2 percent.
Soybeans were seen as technically oversold and due for a rebound after Monday's drop to a 10-month low. The nine-day RSI for November soy stood at 14 ahead of the open, within the technically oversold range of 0 to 30.
FCPO-KUALA LUMPUR, Sept 27 (Reuters) - Malaysian palm oil futures bounced up on Tuesday as bargain hunters resurfaced after the market slid to a one-year low the previous day on concerns that developed countries were pushing the world into a recession.
Palm oil led other vegetable oil prices higher, helped by a belief that markets were oversold, a weaker U.S. dollar that makes edible oil exports competitive and recovering shipments owing to robust Asian festival demand.
Benchmark December palm oil futures 0#FCPO: on the Bursa Malaysia Derivatives Exchange settled up 1.5 percent to 2,948 ringgit ($926.72) a tonne.
The previous day, the contract dropped as much as 4.5 percent, its worst daily showing since February this year.
Overall trade stood at 23,487 lots of 25 tonnes each, compared to the usual 25,000 lots.
REGIONAL EQUITIES-BANGKOK, Sept 27 (Reuters) - Southeast Asian stock markets pushed higher on Tuesday, with Indonesia and Thailand surging nearly 5 percent because of hopes that European policymakers will act to contain Greece's debt problems and resolve the euro zone debt crisis.
Buying gained steam during the afternoon as European shares rose for a third straight session, although brokers said the rise in Asia owed more to short-covering than new buying as many investors remained worried about the risk of global recession.
If the euro zone's problems persisted, that could drag global markets lower again, including Southeast Asian stocks despite the fall in their valuations.
The Asian markets finished at their day's highs, with Indonesia's main share index .JKSE ending up 4.8 percent, reversing Monday's 3.2 percent loss. Thai stocks .SETI gained 4.7 percent, erasing part of the previous session's 5.7 percent loss.
Stocks in Singapore .FTSTI and Malaysia .KLSE gained over 2 percent. Vietnam .VNI rose 0.7 percent. The Philippine market .PSI was shut because of Typhoon Nesat.
Trading volume was generally moderate, around the monthly average.
Singaporean bank DBS Group Holdings DBSM.SI, which fell 2.3 percent on Monday, rose 3.5 percent.
The euro also rose for a third straight day as multiple reports showed officials considering plans to make its bailout fund many times larger and to recapitalize banks.
The Dow Jones industrial average .DJI closed up 146.83 points, or 1.33 percent, at 11,190.69. The Standard & Poor's 500 Index .SPX rose 12.43 points, or 1.07 percent, at 1,175.38. The Nasdaq Composite Index .IXIC finished up 30.14 points, or 1.20 percent, at 2,546.83
NYMEX-NEW YORK, Sept 27 (Reuters) - U.S. crude oil futures edged up in post-settlement trading on Tuesday after data from the American Petroleum Institute showed that domestic crude stocks rose less than expected last week and stocks fell sharply at the Cushing, Oklahoma, delivery hub.
Earlier, crude stocks settled more than 5 percent higher, the biggest one-day percentage gain in 4-1/2 months, as euro zone efforts to raise the region's bailout fund and support banks sparked buying in equities and commodities markets.
On the New York Mercantile Exchange, November crude CLX1 settled at $84.45 a barrel, up $4.21, or 5.25 percent, to set the biggest single-day percentage rise since May 9 when prices ended up 5.53 percent. It traded from $80.92 to $84.67.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade ended firmer, joining a broad rally in commodities as fresh measures discussed by the European Central Bank curbed anxieties about European debt.
U.S. crude oil futures CLc1 were up about 5 percent by the CBOT close and the U.S. dollar index .DXY was down 1.2 percent.
Soybeans were seen as technically oversold and due for a rebound after Monday's drop to a 10-month low. The nine-day RSI for November soy stood at 14 ahead of the open, within the technically oversold range of 0 to 30.
FCPO-KUALA LUMPUR, Sept 27 (Reuters) - Malaysian palm oil futures bounced up on Tuesday as bargain hunters resurfaced after the market slid to a one-year low the previous day on concerns that developed countries were pushing the world into a recession.
Palm oil led other vegetable oil prices higher, helped by a belief that markets were oversold, a weaker U.S. dollar that makes edible oil exports competitive and recovering shipments owing to robust Asian festival demand.
Benchmark December palm oil futures 0#FCPO: on the Bursa Malaysia Derivatives Exchange settled up 1.5 percent to 2,948 ringgit ($926.72) a tonne.
The previous day, the contract dropped as much as 4.5 percent, its worst daily showing since February this year.
Overall trade stood at 23,487 lots of 25 tonnes each, compared to the usual 25,000 lots.
REGIONAL EQUITIES-BANGKOK, Sept 27 (Reuters) - Southeast Asian stock markets pushed higher on Tuesday, with Indonesia and Thailand surging nearly 5 percent because of hopes that European policymakers will act to contain Greece's debt problems and resolve the euro zone debt crisis.
Buying gained steam during the afternoon as European shares rose for a third straight session, although brokers said the rise in Asia owed more to short-covering than new buying as many investors remained worried about the risk of global recession.
If the euro zone's problems persisted, that could drag global markets lower again, including Southeast Asian stocks despite the fall in their valuations.
The Asian markets finished at their day's highs, with Indonesia's main share index .JKSE ending up 4.8 percent, reversing Monday's 3.2 percent loss. Thai stocks .SETI gained 4.7 percent, erasing part of the previous session's 5.7 percent loss.
Stocks in Singapore .FTSTI and Malaysia .KLSE gained over 2 percent. Vietnam .VNI rose 0.7 percent. The Philippine market .PSI was shut because of Typhoon Nesat.
Trading volume was generally moderate, around the monthly average.
Singaporean bank DBS Group Holdings DBSM.SI, which fell 2.3 percent on Monday, rose 3.5 percent.
Thursday, September 22, 2011
Trader's Highlight
DJI-NEW YORK, Sept 21 (Reuters) - U.S. stocks suffered their worst drop in a month after the Federal Reserve said there were "significant downside risks" to the economy even as it took another stab at boosting growth.
Selling accelerated as volume spiked in the last hour of trading, with banks and insurers leading the decline, as the KBW Bank index .BKX slid 5.5 percent and the KBW Insurance index .KIX off 5.2 percent. Bank of America BAC.N lost 7.5 percent to $6.38 and Prudential Financial Inc PRU.N slid 6.6 percent to $45.73.
The Dow Jones industrial average .DJI dropped 283.82 points, or 2.49 percent, to 11,124.84. The Standard & Poor's 500 Index .SPX lost 35.33 points, or 2.94 percent, to 1,166.76. The Nasdaq Composite Index .IXIC fell 52.05 points, or 2.01 percent, to 2,538.19.
NYMEX-NEW YORK, Sept 21 (Reuters) - U.S. crude oil futures ended more than 1 percent lower on Wednesday as analysts deemed new easing measures by the Federal Reserve insufficient to jump-start the stalling U.S. economy.
Crude futures were already trading in negative territory before the Federal Reserve's policymakers, at the conclusion of a two-day meeting, issued a statement that, as expected, would put more downward pressure on long-term interest rates.
On the New York Mercantile Exchange, crude for November delivery CLX1 settled at $85.92 a barrel, falling $1, or 1.15 percent, after trading between $85.05 and $87.99.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade fell to a six-week low on concerns about poor export demand for U.S. soybeans and seasonal pressure from the approaching U.S. harvest, traders said.
Market fell to session lows near the closing bell. Benchmark November soybeans SX1 fell below Monday's low of $13.26 and set a six-week low at $13.20.
FCPO-KUALA LUMPUR, Sept 21 (Reuters) - Malaysian palm oil barely moved on Wednesday as investors grew wary over attempts to resolve Europe's debt crisis and shore up the U.S. economy against a slide back into recession -- factors that can stall global commodity demand.
Palm oil prices have been see-sawing in September, torn between the bleak global economic outlook and prospects of strong demand ahead of key public holidays in top buyers India and China next month.
Benchmark December palm oil FCPOc3 on the Bursa Malaysia Derivatives Exchange shed 1 ringgit to end at 3,066 ringgit ($982.85) per tonne. Overall volumes were light, with 21,933 lots of 25 tonnes each changing hands, compared to the usual 25,000 lots.
REGIONAL EQUITIES-Sept 21 (Reuters) - Southeast Asian stock markets closed weaker or with marginal gains on Wednesday in thin trade as investors stayed on the sidelines, waiting for a possible move by the U.S. Federal Reserve to spur growth in the world's largest economy.
The Fed is expected to announce plans later on Wednesday to rebalance its portfolio in favour of longer-dated bonds and so push long-term interest rates -- already near historic lows -- even lower in a move known as Operation Twist.
But Malaysia .KLSE recovered from its lowest in over a year to end 0.6 percent firmer with foreign inflows of $5.2 million, while Singapore .FTSTI rose 0.4 percent and Thailand .SETI gained 0.3 percent with $9.6 million in inflows.
In Kuala Lumpur, Malaysian conglomerate Sime Darby SIME.KL, the world's top palm oil planter by landbank size, jumped 4.2 percent after recent selling. Analysts said the market's concerns over the company's acquisition of a stake in Eastern and Oriental ENOB.KL were overdone.
Selling accelerated as volume spiked in the last hour of trading, with banks and insurers leading the decline, as the KBW Bank index .BKX slid 5.5 percent and the KBW Insurance index .KIX off 5.2 percent. Bank of America BAC.N lost 7.5 percent to $6.38 and Prudential Financial Inc PRU.N slid 6.6 percent to $45.73.
The Dow Jones industrial average .DJI dropped 283.82 points, or 2.49 percent, to 11,124.84. The Standard & Poor's 500 Index .SPX lost 35.33 points, or 2.94 percent, to 1,166.76. The Nasdaq Composite Index .IXIC fell 52.05 points, or 2.01 percent, to 2,538.19.
NYMEX-NEW YORK, Sept 21 (Reuters) - U.S. crude oil futures ended more than 1 percent lower on Wednesday as analysts deemed new easing measures by the Federal Reserve insufficient to jump-start the stalling U.S. economy.
Crude futures were already trading in negative territory before the Federal Reserve's policymakers, at the conclusion of a two-day meeting, issued a statement that, as expected, would put more downward pressure on long-term interest rates.
On the New York Mercantile Exchange, crude for November delivery CLX1 settled at $85.92 a barrel, falling $1, or 1.15 percent, after trading between $85.05 and $87.99.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade fell to a six-week low on concerns about poor export demand for U.S. soybeans and seasonal pressure from the approaching U.S. harvest, traders said.
Market fell to session lows near the closing bell. Benchmark November soybeans SX1 fell below Monday's low of $13.26 and set a six-week low at $13.20.
FCPO-KUALA LUMPUR, Sept 21 (Reuters) - Malaysian palm oil barely moved on Wednesday as investors grew wary over attempts to resolve Europe's debt crisis and shore up the U.S. economy against a slide back into recession -- factors that can stall global commodity demand.
Palm oil prices have been see-sawing in September, torn between the bleak global economic outlook and prospects of strong demand ahead of key public holidays in top buyers India and China next month.
Benchmark December palm oil FCPOc3 on the Bursa Malaysia Derivatives Exchange shed 1 ringgit to end at 3,066 ringgit ($982.85) per tonne. Overall volumes were light, with 21,933 lots of 25 tonnes each changing hands, compared to the usual 25,000 lots.
REGIONAL EQUITIES-Sept 21 (Reuters) - Southeast Asian stock markets closed weaker or with marginal gains on Wednesday in thin trade as investors stayed on the sidelines, waiting for a possible move by the U.S. Federal Reserve to spur growth in the world's largest economy.
The Fed is expected to announce plans later on Wednesday to rebalance its portfolio in favour of longer-dated bonds and so push long-term interest rates -- already near historic lows -- even lower in a move known as Operation Twist.
But Malaysia .KLSE recovered from its lowest in over a year to end 0.6 percent firmer with foreign inflows of $5.2 million, while Singapore .FTSTI rose 0.4 percent and Thailand .SETI gained 0.3 percent with $9.6 million in inflows.
In Kuala Lumpur, Malaysian conglomerate Sime Darby SIME.KL, the world's top palm oil planter by landbank size, jumped 4.2 percent after recent selling. Analysts said the market's concerns over the company's acquisition of a stake in Eastern and Oriental ENOB.KL were overdone.
Wednesday, September 21, 2011
Trader's Highlight
DJI-NEW YORK, Sept 20 (Reuters) - U.S. stocks ended little changed on Tuesday as investors waited to see if the U.S. Federal Reserve would offer more economic stimulus and if Greece made progress in talks to avoid a default.
In the lowest volume session since late August, the market gave up earlier gains of about 1 percent as investors were wary of going home with long positions after an overnight downgrade of Italy's credit rating.
The Dow Jones industrial average .DJI gained 7.65 points, or 0.07 percent, to 11,408.66 at the close. The Standard & Poor's 500 Index .SPX fell 2.00 points, or 0.17 percent, to 1,202.09. The Nasdaq Composite Index .IXIC lost 22.59 points, or 0.86 percent, to 2,590.24.
NYMEX-NEW YORK, Sept 20 (Reuters) - U.S. crude futures rose on Tuesday, in choppy trading as the October contract approached expiration and bouncing after sliding the previous session on hopes the Federal Reserve may act to stimulate the economy.
U.S. stocks on Wall Street ended little changed in low volume trading, shedding earlier gains also attributed to hopes that the Fed will indicate new actions to boost a flagging economy when it finishes its two-day meeting on Wednesday.
On the New York Mercantile Exchange, expiring October crude CLV1 rose $1.19, or 1.39 percent to settle at $86.89 a barrel, having traded from $85.11 and $87.46.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade ended higher Tuesday in a short-covering bounce after a six-day sell-off left the market technically oversold, while a drop in weekly U.S. crop ratings added support, traders said.
Strength in crude oil and a setback in the U.S. dollar added support.But soybeans ended off the day's highs on spillover pressure from a retreat in CBOT corn and the approach of the U.S. corn and soy harvest.
FCPO-KUALA LUMPUR, Sept 20 (Reuters) - Malaysian palm oil futures inched up on Tuesday as the weaker ringgit MYR= made the vegetable oil cheaper to process at time when exports could start rising again ahead of an Indian festival and a national holiday in China.
Investors were also bargain hunting after commodity prices declined the previous day on concerns about the euro zone's debt crisis, boosting safe-havens such as the U.S. dollar.
Benchmark December palm oil FCPOc3 on the Bursa Malaysia Derivatives Exchange settled up 0.9 percent to 3,067 ringgit($985.48) per tonne.
Overall volumes were light, with 16,863 lots of 25 tonnes changing hands, compared to the usual 25,000 lots.
REGIONAL EQUITIES-Sept 19 (Reuters) - Most Southeast Asian stock markets fell on Tuesday, hit by ouflows of global capital, as ratings agency S&P's downgrade of Italy and concerns of a Greek default rattled emerging-market nerves in Asia.
Jakarta suffered outflows of $88.9 million, Bangkok saw outflows of $61.6 million, Manila saw foreign selling of $11.7 million and Kuala Lumpur witnessed outflows of $28.1 million.
Standard and Poor's downgraded its unsolicited ratings on Italy by one notch to A/A-1 and kept its outlook on negative, a major surprise that threatens to add to concerns of contagion in the debt-stressed euro zone amid still unresolved sovereign debt crisis in Greece
Bucking the trend, Thailand .SETI and Singapore .FTSTI gained 0.9 percent each, led by banks with Siam Commercial Bank SCB.BK and Kasikornbank KBAN.BK rising over 2.2 percent in Bangkok and DBS DBSM.SI and United Overseas Bank UOBH.SI gaining 0.4 percent and 0.9 percent respectively.
In the lowest volume session since late August, the market gave up earlier gains of about 1 percent as investors were wary of going home with long positions after an overnight downgrade of Italy's credit rating.
The Dow Jones industrial average .DJI gained 7.65 points, or 0.07 percent, to 11,408.66 at the close. The Standard & Poor's 500 Index .SPX fell 2.00 points, or 0.17 percent, to 1,202.09. The Nasdaq Composite Index .IXIC lost 22.59 points, or 0.86 percent, to 2,590.24.
NYMEX-NEW YORK, Sept 20 (Reuters) - U.S. crude futures rose on Tuesday, in choppy trading as the October contract approached expiration and bouncing after sliding the previous session on hopes the Federal Reserve may act to stimulate the economy.
U.S. stocks on Wall Street ended little changed in low volume trading, shedding earlier gains also attributed to hopes that the Fed will indicate new actions to boost a flagging economy when it finishes its two-day meeting on Wednesday.
On the New York Mercantile Exchange, expiring October crude CLV1 rose $1.19, or 1.39 percent to settle at $86.89 a barrel, having traded from $85.11 and $87.46.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade ended higher Tuesday in a short-covering bounce after a six-day sell-off left the market technically oversold, while a drop in weekly U.S. crop ratings added support, traders said.
Strength in crude oil and a setback in the U.S. dollar added support.But soybeans ended off the day's highs on spillover pressure from a retreat in CBOT corn and the approach of the U.S. corn and soy harvest.
FCPO-KUALA LUMPUR, Sept 20 (Reuters) - Malaysian palm oil futures inched up on Tuesday as the weaker ringgit MYR= made the vegetable oil cheaper to process at time when exports could start rising again ahead of an Indian festival and a national holiday in China.
Investors were also bargain hunting after commodity prices declined the previous day on concerns about the euro zone's debt crisis, boosting safe-havens such as the U.S. dollar.
Benchmark December palm oil FCPOc3 on the Bursa Malaysia Derivatives Exchange settled up 0.9 percent to 3,067 ringgit($985.48) per tonne.
Overall volumes were light, with 16,863 lots of 25 tonnes changing hands, compared to the usual 25,000 lots.
REGIONAL EQUITIES-Sept 19 (Reuters) - Most Southeast Asian stock markets fell on Tuesday, hit by ouflows of global capital, as ratings agency S&P's downgrade of Italy and concerns of a Greek default rattled emerging-market nerves in Asia.
Jakarta suffered outflows of $88.9 million, Bangkok saw outflows of $61.6 million, Manila saw foreign selling of $11.7 million and Kuala Lumpur witnessed outflows of $28.1 million.
Standard and Poor's downgraded its unsolicited ratings on Italy by one notch to A/A-1 and kept its outlook on negative, a major surprise that threatens to add to concerns of contagion in the debt-stressed euro zone amid still unresolved sovereign debt crisis in Greece
Bucking the trend, Thailand .SETI and Singapore .FTSTI gained 0.9 percent each, led by banks with Siam Commercial Bank SCB.BK and Kasikornbank KBAN.BK rising over 2.2 percent in Bangkok and DBS DBSM.SI and United Overseas Bank UOBH.SI gaining 0.4 percent and 0.9 percent respectively.
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