Trader's highlight

DJI-NEW YORK, Jan 25 (Reuters) - Big profits from Apple and a promise from the Federal Reserve to keep rock-bottom rates for at least two more years powered the U.S. stock market higher on Wednesday.

The Dow Jones industrial average <.DJI> rose 83.10 points, or 0.66 percent, at 12,758.85. The Standard & Poor's 500 Index <.SPX> was up 11.41 points, or 0.87 percent, at 1,326.06. The Nasdaq Composite Index <.IXIC> ended up 31.67 points, or 1.14 percent, at 2,818.31.

NYMEX-NEW YORK, Jan 25 (Reuters) - U.S. crude futures rose on Wednesday after the U.S. Federal Reserve said it would keep interest rates low at least through late 2014 and on support from strong gasoline futures.

At the end of a two-day policy meeting, the Fed said that, while the economy was expanding moderately despite slowing global growth, the U.S. unemployment rate was still elevated and that the economy faces "significant downside
risks."

On the New York Mercantile Exchange, crude rose 45 cents, or 0.45 percent, to settle at $99.40 a barrel, having traded from $97.53 to $100.40.

CBOT- SOYBEANS, Chicago Board of Trade soybean futures closed lower on recent improved soy crop prospects in Argentina due to timely rainfall.

FCPO-KUALA LUMPUR, Jan 25 (Reuters) - Malaysian crude palm oil futures edged up in post-holiday trade on Wednesday as traders focused on dry south American weather affecting soy yields, although concerns of a looming Greek debt default curbed
gains.

Investors shifted their focus to the U.S. Federal Reserve that is expected to keep interest rates at ultra-low levels at the end of a two-day meeting on Wednesday, potentially weakening the U.S. dollar.

Benchmark April palm oil futures on the Bursa Malaysia Derivatives Exchange settled up 0.1 percent at 3,169 Malaysian ringgit ($1,030) per tonne. Traded volumes were thin after the long weekend at 9,267 lots of 25 tonnes each, versus the usual 25,000 lots.

Regional Equity- Jan 24 (Reuters) - Most Southeast Asian stock markets slid on Wednesday as foreigner investors took profits after last week's rally, but Singapore rose to a three-month high on earning hopes.

Regional analysts said investors were still awaiting developments on the European debt crisis after governments and private bond holders failing to come to an agreement on a restructuring of Greece's debt on Tuesday.

Singapore bucking the trend, jumped 1.5 percent to its highest since Oct. 28 as it resumed trading after a long weekend, with upbeat earnings from technology bellwether Apple boosting sentiment.

Shares in Singapore rig builder Sembcorp Marine Ltd ended 3.6 percent firmer after an industry publication quoting Goldman Sachs and Nomura said the rig builder had won an order for a drillship from a Brazilian firm.

Shares of Singapore-listed Chinese firm Ying Li International Real Estate Ltd surged 11.9 percent after a brokerage stoked expectations that China may relax some property curbs, helping in a re-rating of the stock, traders said.

Singapore is the region's top performer so far this year with a 9.3 percent gain followed by the Philippines.

RTRS-Malaysia's 2012 palm oil output seen inching up

KUALA LUMPUR, Jan 19 (Reuters) - Malaysia's 2012 palm oil production is expected to rise for a second year as more estates start producing after the opening up of land in Borneo and an aggressive replanting campaign from two to three years ago, an industry body official said on Thursday.

Output this year will inch up 2.3 percent to 19.3 million tonnes from 18.9 million tonnes in 2011 driven partly by the maturity of new planted areas in Sarawak state in Borneo island, said an official from the Malaysian Palm Oil Board.

The first official forecast on Malaysia widens the gap between the No.2 producer and its biggest rival, Indonesia, where output is expected to rise six percent to 25 million tonnes this year.

Trader's Highlight

DJI- NEW YORK, Jan 19 (Reuters) - U.S. stocks rose for the third straight day on Thursday, sparked by results from Bank of America and Morgan Stanley and as the latest jobless claims dropped to a near four-year low.

The S&P 500 hit a fresh five-month high, with the industrials, consumer discretionary stocks and financials leading gains.

Tech shares advanced ahead of earnings from a number of bellwethers expected after the close.

The Dow Jones industrial average <.DJI> rose 45.03 points, or 0.36 percent, to end at 12,623.98. The Standard & Poor's 500 Index <.SPX> gained 6.46 points, or 0.49 percent, to 1,314.50. The Nasdaq Composite Index <.IXIC> climbed 18.62 points, or 0.67 percent, to close at 2,788.33.

NYMEX-NEW YORK, Jan 19 (Reuters) - U.S. crude futures edged lower on Thursday as continuing weak demand and firm technical resistance countered optimism about the euro zone tackling its debt problems and a report showing falling crude stocks in the United States.

U.S. gasoline demand last week plummeted to the lowest level in more than a decade, government data showed.

U.S. weekly crude stocks fell 3.44 million barrels last week, the U.S. Energy Information Administration said in its weekly report, against a forecast for a build of 2.8 million barrels.

On the New York Mercantile Exchange, February crude fell 20 cents, or 0.2 percent, to settle at $100.39 a barrel, trading from $99.98 to $102.06, falling to that low in post-settlement trading.

CBOT- SOYBEANS, Soybean futures on the Chicago Board of Trade rose more than 1 percent on firmer cash soy markets amid talk of Chinese demand, along with support from a weaker dollar, traders said.

Cash values for soybeans firmed at the U.S. Gulf CIF market as well as in the interior U.S. Midwest, buoyed by a mix of export interest, processor demand and slow farmer selling.

FCPO-SINGAPORE, Jan 19 (Reuters) - Malaysian crude palm oil futures eased on Thursday as prospects of higher stocks and slowing demand of the edible oil offset news that the International Monetary Fund will help to tackle the euro zone
debt crisis.

The IMF move may prevent the euro zone debt crisis from deepening. Concerns of slower economic growth and weaker commodity demand from the over two-year old financial crisis has weighed on palm oil futures that are 0.6 percent down so far
this year.

Investors were focusing on talks of higher-than-expected stock levels, rising production in Malaysia and lacklustre export trend in recent weeks that could depress prices.

Benchmark April palm oil futures on the Bursa Malaysia Derivatives Exchange fell 0.7 percent to close at 3,157 ringgit ($1017) per tonne. Traded volumes stood at 25,812 lots of 25 tonnes each, just slightly higher than the usual 25,000 lots.

REGIONAL EQUITIES- BANGKOK, Jan 19 (Reuters) - Indonesia's stock market hit a four-month high on Thursday after a rating upgrade the day before and most other Southeast Asian markets edged higher after news the International Monetary Fund could provide further help to tackle the euro zone debt crisis.

Late selling left indexes off their highs as investors looked for cash ahead of the Chinese New Year holidays.

In Jakarta, investors bought stock after Moody's upgrade of the country's debt rating to investment grade. That could spur more foreign flows to Indonesia and give Indonesian assets a bigger share in global fund portfolios.

Indonesia's main index could test 4,600 this year, according to Harry Su, head of research at Jakarta-based broker Bahana Securities. That would be way above the intraday record high of 4,195.72 set in August. It closed at 4,001.07 <.JKSE> on
Thursday.

Singapore's Noble Group Ltd rose 3.9 percent, top Thai energy firm PTT Pcl added 1.5 percent and Malaysia's Petronas Chemicals Group Bhd rose 0.6 percent.

REUTERS POLL-MALAYSIA'S PALM OIL FUTURES TO AVERAGE 3,000 RGT/TONNE IN 2012, UNCHANGED FROM JULY SURVEY

KUALA LUMPUR, Jan 18 (Reuters) - Average palm oil prices are set to decline in 2012 for the first time in three years, squeezed by ample supply from Southeast Asia and faltering demand as global growth weakens because of Europe's debt crisis.

A median poll of 25 analysts tracking top palm oil producers Indonesia and Malaysia showed 2012 price expectations for the tropical oil stood at a median 3,000 ringgit ($960) per tonne, unchanged from a survey conducted in July.

The forecast goes 7.3 percent lower than a record average of 3,237 ringgit per tonne notched last year, when most of the gains came from floods swamping estates in Malaysia in early 2011 at a time of strong demand.

Analysts say the scenario is now different, with Malaysia's opening palm oil stocks well above 2 million tonnes and La Nina-driven rains in late 2011 having a very muted impact on output this year.

RTRS- La Nina weather pattern weakening - Australia

SYDNEY, Jan 18 (Reuters) - La Nina, a weather phenomenon usually linked to heavy rains and flooding in the Asia-Pacific region and South America and drought in Africa, has displayed signs of weakening over the past two weeks, Australia's weather bureau said on Wednesday.

"While La Niña conditions clearly remain, some indicators have weakened over the past fortnight," the Australian Bureau of Meteorology said.

A majority of climate models surveyed by the bureau suggest a gradual decline of La Niña, with most models suggesting an end of the event during the coming Australian autumn, it said.

Trader's highlight

DJI- NEW YORK, Jan 18 (Reuters) - U.S. stocks jumped to their highest since July on Wednesday as the International Monetary Fund sought to help countries hit by the European debt crisis, while forecast-beating earnings from Goldman Sachs dispelled some worries over bank profits.

The stronger-than-expected earnings from Goldman Sachs Group Inc followed disappointing results from Citigroup on Tuesday and JPMorgan Chase & Co last week.

The Dow Jones industrial average <.DJI> rose 96.88 points, or 0.78 percent, to close at 12,578.95. The Standard & Poor's 500 Index <.SPX> added 14.37 points, or 1.11 percent, to 1,308.04. The Nasdaq Composite Index <.IXIC> climbed 41.63 points, or 1.53 percent, to close at 2,769.71.

NYMEX- NEW YORK, Jan 18 (Reuters) - U.S. crude futures edged lower as a weak global demand outlook weighed on oil prices even as news that Hovensa's large refinery in St. Croix will shut next month sent gasoline futures sharply higher and limited
crude losses.

The IEA in its monthly report cut its world oil demand growth forecast for 2012 by 220,000 barrels per day to 1.1 million bpd.

Further downgrades to global GDP estimates will trigger cuts in global oil consumption estimates, the IEA said.

On the New York Mercantile Exchange, February crude fell 12 cents, or 0.12 percent, to settle at $100.59 a barrel, having traded from $99.84 to $102.06.

CBOT- SOYBEANS, Soybean futures on the Chicago Board of Trade showed modest losses by the closing bell on Wednesday, pressured by wetter forecasts for Argentina, but the market pared early declines and traded higher at times on talk of Chinese demand, traders said.

Soy crushing margins in China have turned positive, analysts said, a factor that could stimulate export interest for U.S. soybeans -- at a time when wet weather in parts of central Brazil threatens to slow that country's early soy harvest.

Soy market also underpinned by weaker U.S. dollar, which tends to support dollar-backed grains and oilseeds.

Additional support from uncertainty over soy production prospects in Argentina, and firming cash soy markets in the interior U.S. Midwest.

FCPO- SINGAPORE, Jan 18 (Reuters) - Malaysian crude palm oil futures inched up on Wednesday as expectations that erratic weather in South America and Southeast Asia could limit edible oil supply overshadowed lingering European debt worries. Investors shifted their focus back to Europe ahead of a Portugal debt sale and as Greece resumes its debt restructuring talks.

But prospects of worsening drought in Argentina and wet weather in Malaysia lifted palm oil futures, which are slightly up by 0.2 percent so far this year.

Benchmark April palm oil futures on the Bursa Malaysia Derivatives Exchange rose 0.5 percent to close at 3,180 ringgit ($1022) per tonne. Traded volumes picked up after the midday break to end at 26,861 lots of 25 tonnes each, compared to the usual 25,000 lots.

REGIONAL EQUITIES- BANGKOK, Jan 18 (Reuters) - Indonesian stocks pushed higher on Wednesday, reversing early losses after Moody's upgraded the credit status of Southeast Asia's biggest economy to investment grade, with banks rallying following deposit ratings upgrades by the ratings agency.

Jakarta's Composite Index <.JKSE> edged up 0.6 percent. Among nine Indonesian banks in the Moody's list, PT Bank Mandiri Tbk climbed 2.2 percent and PT Bank Rakyat Indonesia Tbk gained 1.4 percent.

Most other Southeast Asian stock markets were lower as market players took quick profits after Tuesday's rally following above-forecast GDP growth in China.

Singapore <.FTSTI> fell 0.7 percent, Malaysia <.KLSE> eased 0.13 percent and Thai stocks <.SETI> was down 0.5 percent.

RTRS-INDONESIA'S DEC PALM OIL EXPORTS DOWN 29 PCT AT 1,041,491 TONNES VS NOV AT 1,465,828 TONNES- INDUSTRY SOURCE

KUALA LUMPUR, Jan 17 (Reuters) - Exports of Indonesian palm oil for December fell 29
percent to 1,041,491 tonnes from a revised 1,465,828 tonnes shipped during November, according to Reuters calculations based on data from an industry source.

Export data from the industry source was based on ships leaving six ports on the Indonesian island of Sumatra -- Dumai, Belawan, Kuala Tanjung, Lubok Gaung, Teluk Bayur and Pelintung.

RTRS-OIL WORLD CUTS ARGENTINE 2012 SOYBEAN CROP FORECAST BY 2 MLN T TO 50.0 MLN T

HAMBURG, Jan 17 (Reuters) - Hamburg-based oilseeds analysts Oil World cut its forecasts of 2012 soybean crops in key exporters Argentina and Brazil by a combined 3.8 million tonnes, which could help raise demand for U.S. soy on global markets.

The cuts follow drought in parts of South America, which also caused the U.S. Department of Agriculture to reduce crop forecasts for the region. Some recent rain fell in Argentina, but a return to hot and dry weather is again forecast, Oil World said.

Oil World said on Tuesday it had cut its forecast of Argentina's 2012 soybean crop to 50.0 million tonnes from 52.0 million tonnes it forecast in December.

Oil World said it has cut its forecast of Brazil's 2012 soybean crop to 71.0 million tonnes from the 72.8 million it forecast in December. This would be down on the 75.3 million tonnes Brazil harvested in 2011.

Dry weather has also hit crops in other South American countries, Oil World said. Paraguay's 2012 soybean crop will drop to 6.0 million tonnes from 8.37 million tonnes in 2011, it forecast.

Trader's highlight

DOW JONES - NEW YORK, Jan 17 (Reuters)- U.S. stocks advanced on Tuesday, pushing the S&P 500 to its highest since early August, but sharply pared gains late in the session as Citigroup's steep drop in profit gave investors a reason to unload bank shares.

The financial sector, which has outperformed the broader market so far this year, took a hit on investors' disappointment with Citigroup Inc's earnings.

The Dow Jones industrial average <.DJI> rose 60.01 points, or 0.48 percent, t 12,482.07 at the close. The Standard & Poor's 500 Index <.SPX> added 4.58 points, or 0.36 percent, to 1,293.67. The Nasdaq Composite Index <.IXIC> gained 17.41
points, or 0.64 percent, to 2,728.08.

NYMEX-NEW YORK, Jan 17 (Reuters) - U.S. crude oil futures gained for the first time in four sessions on Tuesday on better-than-expected New York State manufacturing data, upbeat German investment sentiment and prospects for pro-growth monetary policies in China.

Returning from a three-day holiday weekend, crude for February delivery settled on the New York Mercantile Exchange with a gain of more than 2 percent, the highest one-day risesince Jan. 3.

On the New York Mercantile Exchange, crude for February delivery settled at$100.71 a barrel, gaining $2.01, or 2.04 percent.

CBOT-SOYBEANS, Soybean futures on the Chicago Board of Trade ended, halting a four-day slide, as concerns about crop prospects in Argentina helped lift the market from last week's multiweek lows.

Argentine crops will suffer from hot weather and scant rains for the rest of this week, forecasters said, increasing worries that crop losses will eat into global supplies.

Hamburg-based newsletter Oil World cut its forecasts of the 2012 soybean crops in key exporters Argentina and Brazil by a combined 3.8 million tonnes.

Market buoyed by bullish data from the National Oilseed Processors Association which pegged the U.S. December soy crush at 145.420 million bushels, above a range of trade
estimates.

FCPO-SINGAPORE, Jan 17 (Reuters) - Malaysian crude palm oil futures bounced back on Tuesday, as concerns over dry weather that could potentially tighten soyoil supplies in Argentina and Brazil offset investor fears about the euro zone debt crisis.

Argentina's drought will worsen this week, say local meteorologists, dashing hopes that rain in the days ahead might be strong enough to revive parched corn and soy fields.

Benchmark April palm oil futures on the Bursa Malaysia Derivatives Exchange jumped 1.2 percent to close at 3,164 ringgit ($1013) per tonne. Prices dropped to 3,099 ringgit the previous day, a level last seen on Dec. 22. Traded volumes stood at 25,785 lots of 25 tonnes each, slightly higher than the usual 25,000 lots as some traders are evening out their positions before the Lunar New Year holidays next week.

REGIONAL EQUITIES-BANGKOK, Jan 17 (Reuters) - Southeast Asian stock markets rose on Tuesday as above-forecast GDP growth in China eased worries about the global economy, luring buyers to regional big caps and resource shares.

Consumer goods and financial stocks also outperformed as they are expected to benefit from resilient domestic demand in the region.

Gains in major world stock markets spurred late buying, with U.S. stock index futures pointing to a higher start on Tuesday and European shares hitting a five-month high.

Singapore shares <.FTSTI> rose to two-month highs, finishing up 2.2 percent. Thai stocks <.SETI> climbed 1.9 percent and the Philippines <.PSI> rose 1.4 percent, pushing it close to last week's record high.

Singapore-listed commodity trading firm Noble Group Ltd surged 5.9 percent and Thailand's biggest energy firm, PTT Pcl , rose 2.8 percent.

Trader's highlight

FCPO-SINGAPORE, Jan 16 (Reuters) - Malaysian crude palm oil futures fell to more than a three-week low on Monday as investor concerns over the euro zone debt crisis and higher-than-expected edible oil supplies weighed on the market.

Rating agency S&P on Friday cut nine of the euro zone's 17 countries, including top-notch France and Austria, and said it would decide shortly whether to downgrade the euro zone's bailout fund.

Benchmark April palm oil futures on the Bursa Malaysia Derivatives Exchange fell 0.7 percent to close at 3,126 ringgit ($996) per tonne. Prices earlier dropped to 3,099 ringgit, a level last seen on Dec. 22. Traded volumes stood at lots of 28,163 lots of 25 tonnes each, slightly higher than the usual 25,000 lots.

REGIONAL EQUITIES- BANGKOK, Jan 16 (Reuters) - Southeast Asian stock markets fell on Monday, led by commodities-related and banking shares, after euro zone sovereign rating cuts by Standard & Poor's rekindled concerns about the euro zone's debt crisis.

S&P downgraded nine of the euro zone's 17 countries, including top-notch France and Austria, and said it would decide shortly whether to downgrade the euro zone's bailout fund.

Southeast Asia saw light trading, with markets awaiting bond auctions by France and Spain later this week, seen as another big test of investor confidence in the euro zone.

Leading losers, Singapore's Straits Times Index <.FTSTI> dropped 1.26 percent, after Friday's 1.8 percent climb to five-week highs. Traders said retail and short-term traders might sell further during the week due to demand for cash ahead of the Chinese New Year holidays.

Stocks in Malaysia <.KLSE> fell 0.92 percent, Indonesia <.JKSE> eased 0.65 percent and Thailand <.SETI> lost 0.75 percent.

Among actively traded, Singapore's DBS Group Holdings Ltd dropped 2.9 percent after Friday's 4.2 percent surge to two-month highs. Coal miners fell, with Thai Banpu Pcl down 1.4 percent and Indonesia's PT Adaro Energy Tbk sliding 1.7 percent.

RTRS-NOPA December U.S. soy crush seen at 141.4 mln bu

CHICAGO, Jan 13 (Reuters) - The National Oilseed Processors Association's monthly crush data slated for release on Tuesday should show the U.S. crush for December 2011at 141.4 million bushels, analysts projected on Friday.

Trade estimates ranged from 139.0 million to 143.5 million bushels. NOPA reported the November 2011 crush at 141.277 million bushels and December 2010 at 145.537 million bushels.

The average analyst estimate for December U.S. soyoil stocks was 1.909 billion lbs,up from NOPA's November figure of 1.876 billion lbs. Forecasts ranged from 1.826 billion to 1.975 billion lbs.

RTRS-ARGENTINA 2011/12 CORN CROP SEEN AT 21.4 MLN T VS 26 MLN T MONTH AGO-ROSARIO GRAINS EXCHANGE

BUENOS AIRES, Jan 13 (Reuters) - Argentina's 2011/12 corn output is seen at 21.4 million tonnes, down sharply from the 26 million tonnes estimated last month due to dry weather, the Rosario grains exchange said on Friday.

The exchange raised its outlook for 2011/12 wheat to 13.7 million tonnes from 12.8 million tonnes previously, and held its 2011/12 soy forecast at 49.5 million tonnes.

Trader's Highlight

DOW JONES-NEW YORK, Jan 13 (Reuters) - U.S. stocks dropped on Friday, snapping a four-day winning streak, after news reports that Standard & Poor's would downgrade credit ratings on several euro-zone countries.

The ratings agency was reportedly set to downgrade euro-zone countries, including France and Austria, but leave the ratings of Germany and the Netherlands unchanged. French Finance Minister Francois Baroin said the country has been notified of a one-notch cut.

The Dow Jones industrial average <.DJI> dropped 48.96 points, or 0.39 percent, to 12,422.06 at the close. The Standard & Poor's 500 Index <.SPX> lost 6.41points, or 0.49 percent, to 1,289.09. The Nasdaq Composite Index <.IXIC> fell 14.03 points, or 0.51 percent, to 2,710.67.

NYMEX-NEW YORK, Jan 13 (Reuters) - U.S. crude futures fell for the third straight day on Friday on anticipation that Standard & Poor's would downgrade credit ratings of several euro zone countries, stoking fears deeper economic troubles for the region.

Losses were curbed by short-covering ahead of the long holiday weekend with traders worried over potential supply disruptions in Nigeria and Iran.

Late in the afternoon, S&P issued its announcement of the downgrades. In post-settlement trading, NYMEX crude futures had slim gains, but at the end of electronic trading, crude futures were back to negative territory.

On the New York Mercantile Exchange, February crude settled at $98.70 a barrel, dropping 40 cents, or 0.40 percent. In post-settlement trading, it last traded at $99.03, down 7 cents.

CBOT-SOYBEANS,Soybean futures on the Chicago Board of Trade fell for a fourth straight session, pressured by a stronger U.S. dollar and forecasts for more rain in South American crop areas, traders said.

Follow-through selling one day after the USDA released bearish data on U.S. soybean ending stocks also weighed on the
market.

CBOT soybeans ended down about 2.6 percent for the week, the second straight weekly decline.

FCPO-SINGAPORE, Jan 13 (Reuters) - Malaysian crude palm oil futures slipped on Friday as a much-anticipated U.S. crop report showed a higher-than-expected forecast of oilseed supplies, temporarily overshadowing prospects of lower production due to erratic weather.

The U.S. Department of Agriculture January crop report painted a rosier picture for global supplies on Thursday, while the Malaysian Palm Oil Board said this week that December stock levels were higher than expected.

Benchmark March palm oil futures on the Bursa Malaysia Derivatives Exchange fell 1.6 percent to close at 3,151 ringgit ($1,007) per tonne. Prices earlier touched an intraday low of 3,143 ringgit, a level last seen on Dec. 29. Traded volumes stood at 30,727 lots of 25 tonnes each,higher than the usual 25,000 lots for the first time in the week.

REGIONAL EQUITIES-BANGKOK, Jan 13 (Reuters) - Selective buying in commodities-related shares on the back of high oil prices helped lift some southeast Asian stock markets on Friday.

Positive comments on Europe's outlook, and stabilisation in European bond markets, also provided support as the region gained on the week, led by a 5.2 percent rise in Vietnam <.VNI>.

Strong demand at Spanish and Italian debt auctions helped tO offset lacklustre economic data from the United States, where retail sales rose in December at their weakest pace in seven months.

Singapore's Straits Times Index <.FTSTI> climbed 1.8 percent, Jakarta's Composite Index <.JKSE> edged up 0.7 percent and Vietnam's Ho Chi Minh Stock Exchange index rose 1.8 percent.

Stocks in Malaysia <.KLSE>, Thailand <.SETI> and the Philippines <.PSI> erased early gains to finish down 0.2 percent, 0.71 percent, and 0.74 percent respectively.

Singapore's Golden Agri Resources Ltd rose 2.78 percent after a combined 2.7 percent drop in the previous two sessions, and Indonesia's PT Bumi Resources Tbk rose 2 percent.

RTRS-INDIA'S DEC PALM OIL IMPORTS SEEN DOWN 23.1 PCT VS NOV, SOYOIL IMPORTS SEEN UP 254.7 PCT - AVERAGE OF REUTERS SURVEY

NEW DELHI, Jan 12 (Reuters) - India's palm oil imports are likely to decline in December over the previous month as domestic oilseeds crushing peaked, but the fall is expected to reverse next month as local supplies run out, a Reuters survey showed on Thursday.

The other reasons for the fall are a weak rupee that has made imports costlier and a tendency of palm oil to solidify at lower temperatures. It is winter in India now.

Higher imports by India, the world's top buyer of vegetable oils, in January could push the benchmark palm oil futures that inched up on Wednesday as prospects of lower edible oil output in South America and southeast Asia.

Trader's Highlight

DOW JONES-NEW YORK, Jan 12 (Reuters) - The S&P 500 closed at a five-month high for the third day on Thursday but had difficulty extending gains in the face of lackluster economic data and another European bond market test.

Energy shares curbed gains after Chevron Corp , the second-largest U.S. oil company, said fourth-quarter profit would be far below the previous quarter. Chevron slid 2.6 percent to $104.97, making it the biggest drag on the Dow, while the S&P energy index <.GSPE> fell 0.9 percent and was the biggest decliner among S&P sectors.

The Dow Jones industrial average <.DJI> gained 21.57 points, or 0.17 percent, to 12,471.02. The Standard & Poor's 500 Index <.SPX> added 3.02 points, or 0.23 percent, to 1,295.50. The Nasdaq Composite Index <.IXIC> rose 13.94 points, or 0.51 percent, to 2,724.70.

NYMEX-NEW YORK, Jan 12 (Reuters) - U.S. crude futures fell on Thursday in a late sell-off sparked by a report that a proposed European Union embargo on Iranian crude exports would be phased in over six months, reinforcing news already published by Reuters.

After trading higher for most of the day, both Brent and U.S. crude prices dropped soon after 2 p.m. EST (1900 GMT) after Bloomberg News reported the proposed embargo would be delayed, or phased in over a six month period, citing an EU official with knowledge of the matter.

On the New York Mercantile Exchange, February crude fell $1.77, or 1.75 percent, to settle at $99.10 a barrel, having traded as high as $102.98. It fell to a $98.50 low in post-settlement trading.

CBOT-SOYBEANS, Soybean futures on the Chicago Board of Trade fell for a third straight session on Thursday in active trade, after the U.S. Department of Agriculture raised its forecast of U.S. soy ending stocks above trade estimates, traders said.

USDA raised its forecast of U.S. 2011/12 soybean ending stocks -- the amount of soybeans that USDA forecasts will be left at the end of the 2011/12 marketing year on Aug. 31, 2012 -- to 275 million bushels, up from 230 million in December and above the average trade estimate of 233 million. USDA cut its estimate of 2011/12 U.S. soy crushings and exports.

FCPO-SINGAPORE, Jan 12 (Reuters) - Malaysian crude palm oil futures fell on Thursday, tracking an earlier decline in soy futures as rains in Argentina provided temporary relief to the drought-stressed crops while investors remained cautious ahead of a key U.S. report.

The U.S. Department of Agriculture will issue January world crop data which traders expect to show downgrades of South American crop forecasts.

Benchmark March palm oil futures on the Bursa Malaysia Derivatives Exchange eased 1 percent to close at 3,202 ringgit ($1,020) per tonne. Traded volumes stood at 17,886 lots of 25 tonnes each, thinner than the usual 25,000 lots.

REGIONAL EQUITIES-BANGKOK, Jan 12 (Reuters) - Southeast Asian stock markets were little changed on Thursday, with appetite for risk assets weak across Asia as investors waited for a Spanish debt sale that is seen as a key test of confidence amid nagging concerns about Europe's debt crisis.

The Philippines' main share index <.PSI> ended flat. It had climbed 1.9 percent on Wednesday, hitting an all-time high for a second session, but its 14-day relative strength index has moved above the "overbought" level to 79.2.

Stocks in Malaysia <.KLSE>, Thailand <.SETI> and Vietnam <.VNI> posted limited gains of 0.21 percent, 0.06 percent and 0.2 percent respectively. Indonesia <.JKSE> ended unchanged and Singapore <.FTSTI> eased 0.13 percent.

Banking shares advanced in Singapore as analysts expect the lenders to report strong loan growth in the final quarter of the year. DBS Group Holdings Ltd climbed 2.14 percent to a one-month high after a 3.2 percent gain in the previous two sessions.