RTRS- Oil World cuts Argentine, Brazil soy crop estimate

HAMBURG, April 17 (Reuters) - Hamburg-based oilseeds analyst Oil World said on Tuesday it had cut its forecast of Argentina's 2012 soybean crop by 1.0 million tonnes and that of Brazil by 0.5 million tonnes after drought damaged harvests.

Oil World now forecasts Argentina's 2012 soybean crop at 44.0 million tonnes, down from 49.2 million in 2011. Brazil's crop is forecast at 65.0 million tonnes from 75.3 million tonnes in 2011.

The latest forecasts were further reduced from Oil World's Apr. 10 crop estimates which had also been cut by a combined 2.5 million tonnes for the two countries as the lingering impact of dry weather becomes clearer.

The estimates compare to the U.S. Department of Agriculture's forecast on Apr. 10 of a 45.0 million tonnes soybean crop for Argentina and 66.0 million tonnes for Brazil. [ID:nUIDAFE86Q] Local observers in Argentina and Brazil have also cut soybean crop estimates. [ID:nL2E8FCEEC] [ID:nL2E8FA29Q]

The poor South American crops mean global 2011/12 season soybean production will fall 26.6 million tonnes on the year to 239 million tonnes, Oil World estimates.

"The magnitude of this decline is unprecedented," Oil World said. "This is going to reduce world soybean stocks more sharply than expected by end-August 2012."

"The tightness is going to spill over to at least the first of the world crop season 2012/13, when a sharp decline in South American exports will raise the dependence on U.S. supplies."

World Apr./Sept. 2012 soybean crushings are likely to be smaller than anticipated which will keep prices of soymeal and soyoil well supported, Oil World said.

RTRS- Fire closes USDA, delays Crop Progress report

WASHINGTON, April 16 (Reuters) - An overnight fire forced the closure of the U.S. Agriculture Department complex on the National Mall and disrupted the flow of data to commodity markets, including a closely watched report on U.S. crop development, officials said on Monday.

The weekly crop progress report, ordinarily released on Monday afternoon, was rescheduled because of the blaze, which fire fighters put out. The report will now be released Tuesday at 4 p.m. EDT (2000 GMT).

The closure also delayed reports such as the weekly tally of grain inspected for export, a gauge of demand for U.S. crops.

No data was lost due to the fire, USDA spokesman Justin DeJong said. USDA employees were given administrative leave on Monday, but are expected to return on Tuesday.

"We do anticipate that the facilities will be open for business tomorrow," DeJong said.

Because of the fire, power was shut off to the South Building, the third-largest federal building, and internal USDA computer networks were shut down. Spokesmen said the shutdown disrupted work on the crop progress report, which usually receives reports from the field on Monday for compilation into a nationwide report with state-by-state data.

Agriculture Secretary Tom Vilsack told reporters at an unrelated conference in Washington, D.C., he has now relocated to the Forest Service building a block away from the USDA administration building.

Trader's Highlight

DJI- NEW YORK, April 17 (Reuters) - U.S. stocks scored their biggest gains in a month on Tuesday after Coca-Cola led a round of strong earnings and as concerns about Europe's debt crisis eased as Spanish bond yields fell.

Apple Inc shares ended a five-day losing streak with a rally of 5.1 percent, helping the Nasdaq Composite close above 3,000. The stock closed at $609.70 and booked its best day
in almost three months after it dropped 8.8 percent in the previous five sessions.

IBM, Intel and Yahoo all beat earnings estimates in their reports after the closing bell. [ID:nL2E8FHGE1]

Earlier in the day, Coca-Cola , Goldman Sachs and Johnson & Johnson all reported profits that beat analysts' estimates, in what has been a surprisingly strong start to earnings season.

German analyst and investor confidence rose unexpectedly in April to a high not seen since June 2010 while better-than-expected results from Spanish debt sales boosted confidence before a long-term debt auction later in the week. [ID:nL6E8FH3JI] [ID:nL6E8FH4DC]

ING's Zemsky said it was hard for any market to dismiss the significantly stronger-than-expected German survey.

The benchmark Spanish 10-year note's yield slipped below 6 percent, but worries about Madrid's finances and the banking sector are likely to keep the pressure on in coming days.

The Dow Jones industrial average <.DJI> rose 194.13 points, or 1.50 percent, to close at 13,115.54. The S&P 500 Index <.SPX> gained 21.21 points, or 1.55 percent, to 1,390.78. The Nasdaq Composite <.IXIC> climbed 54.42 points, or 1.82 percent, to 3,042.82.

NYMEX- NEW YORK, April 17 (Reuters) - U.S. crude futures rose for a second straight day on Tuesday, as prospects of an earlier-than-expected reversal of the Seaway pipeline to help ease the glut of oil in the Midwest continued to fuel buying.

A well-received Spanish debt auction, upbeat German economic sentiment and higher global economic growth forecast by the IMF were also supportive for crude.

Traders were awaiting further direction from the weekly petroleum inventory report from the American Petroleum Institute scheduled at 4:30 p.m. EDT (2030 GMT). The U.S. Energy
Information Administration will follow with its report on Wednesday, at 10:30 a.m. EDT.

Ahead of the reports, a Reuters poll forecast that domestic crude stocks rose 1.4 million barrels in the week to April 13. Distillate stocks fell 200,000 barrels and gasoline stocks declined 900,000 barrels, the poll also showed. [IEA/S]

In other news, U.S. President Barack Obama proposed new measures that would raise civil and criminal penalties for individuals and companies involved in oil market manipulation.

Obama also proposed that Congress give the Commodity Futures Trading Commission authority to require traders to increase their margins, or collateral, when trading in oil futures.[ID:nL2E8FH1EQ]

In response, exchange operator CME Group said Obama's plan on margins was "misplaced," and warmed that the move risked raising prices.

* On the New York Mercantile Exchange, crude for May delivery , which expires on Friday, settled at $104.20 a barrel, gaining $1.27, or 1.23 percent, the highest since April 2, after trading between $102.66 and $105.07.

* NYMEX June crude settled at $106.64, also up $1.27, or 1.23 percent, while ICE Brent June crude settled up 10 cents, or 0.08 percent, at $118.78. That further narrowed Brent's premium against U.S. crude, to $14.14, from $15.31 on Monday .

CBOT- Soybean futures on the Chicago Board of Trade ended, bouncing back from Monday's 1 percent slide on talk of export demand for U.S. soybeans, especially from top buyer China,
traders said.

* The market ended off day's highs, with some traders liquidating longs after May soybeans failed to match the session high from Monday.

* USDA confirmed sales of 225,000 tonnes of U.S. soybeans to unknown destinations, including 110,000 tonnes for delivery in 2011/12 and 115,000 tonnes for 2012/13. [ID:nW1E8E8021]

* Oilseeds analyst Oil World cut its forecast of Argentina's 2012 soybean crop to 44 million tonnes, down 1 million, and that of Brazil to 65.0 million tonnes, down 0.5 million, due to drought. [ID:nL6E8FG9RH]

* The Kaohsiung division of Taiwan's Breakfast Soybean Procurement Association bought 60,000 tonnes of soybeans to be sourced from Brazil - trade. [ID:nL6E8FH29M]

* A consortium of Israeli private buyers issued a tender to buy up to 22,000 tonnes of U.S. corn products and 20,000 tonnes of U.S. soymeal - trade. [ID:nL6E8FH888]

* USDA was expected to release its weekly crop progress report on Tuesday afternoon, one day later than normal, due to a fire that temporarily shut USDA offices in Washington.[ID:nL2E8FG9Y6]

FCPO- SINGAPORE, April 17 (Reuters) - Malaysian palm oil futures inched up on Tuesday on tightening global oilseed supply, although gains were limited as weaker exports and soaring
Spanish borrowing costs weighed on sentiment.

Malaysian palm oil stocks dropped below the 2-million-tonne mark for the first time this year, reinforcing views of a tight global supply amid a lower soy crop in drought-hit South America.

But concerns of a slowing commodity demand also surfaced with Spain's surging borrowing costs stoking investor nervousness over euro zone debt woes and weaker global economic growth. [ID:nL6E8FG9K3]

"Negative macroeconomic factors coupled with weaker export numbers may force traders to take profits. But fundamentally supply for crude palm oil and other vegetable oil is still very
tight, so that should be supportive throughout the second quarter," said Alan Lim, research analyst with Kenanga Investment Bank in Malaysia.

At closing, benchmark July palm oil futures on the Bursa Malaysia Derivatives Exchange gained a 0.5 percent at 3,503 ringgit ($1,143) per tonne.

Traded volumes stood at 32,201 lots of 25 tonnes each, higher than the usual 25,000 lots.

According to technical charts, a bearish target of 3,401 ringgit per tonne will only be confirmed if palm oil drops below 3,454 ringgit, Reuters market analyst Wang Tao said. [ID:nL3E8FH13N]

Malaysia's palm oil stocks for March fell to a seven-month low at 1.96 million tonnes, beating market estimates, forcing traders to ramp up crude palm oil purchases in fear of a potential shortfall. [ I D:nK7E7ND021]

Malaysian palm oil exports fell by close to 15 percent for the first half of April from a month ago, according to cargo surveyor data. Exports for refined products suffered declines as orders shifted to top producer Indonesia, which enjoyed a favourable tax structure. [PALM/ITS] [PALM/SGS]

REGIONAL EQUITY- BANGKOK, April 17 (Reuters) - Thai stocks fell nearly 1 percent on Tuesday and shares in Singapore and Malaysia edged lower as renewed worries about debt problems in Europe curbed investors' appetite for riskier assets.

The Thai stock market saw net foreign outflows of around 800 million baht ($26 million) in the morning session, according to broker Phillip Securities strategist Teerada Charnyingyong.

The market posted combined foreign outflows of $160 million in past two sessions to April 12 before a four-day weekend.

"The Thai market still has a fairly high concerns about Europe's debt problems, in line with the region. Investors are uncertain of what to do and risk appetite is slowing down," said Teerada of Phillip Securities.

Thailand had seen strong inflows this year, with $2.6 billion of net foreign purchases this year to April 12, according to Thomson Reuters data.

Indonesia <.JKSE> had $1.2 billion worth of foreign inflows for the same period, with Vietnam's the Ho Chi Minh Stock Exchange index <.VNI> reporting $23.57 of inflows for the
period, data showed.

Thailand's benchmark index <.SETI> closed 0.8 percent lower, with Singapore <.FTSTI> down 0.2 percent and Malaysia <.KLSE> slipping 0.1 percent.

The Philippines <.PSI> and Indonesia bucked the trend, rising 0.8 percent and 0.3 percent, resptively. Vietnam's main index rose 1 percent.

RTRS- US soybean crush 140,534 mln bu in March--NOPA

WASHINGTON, April 16 (Reuters) - The National Oilseed Processors Association (NOPA) issued the following monthly soybean crushings and processing data:

CRUSHINGS (1,000 bu) Mar 12 Feb 12 Mar 11
Illinois 18,031 18,207 17,157
Ind, Ky, Ohio, Mich 32,133 30,494 30,229
Southeast 17,672 18,075 17,712
Southwest 26,882 26,244 24,347
Iowa 31,415 29,676 30,060
Minn, N/SDak., Mont 14,402 13,653 14,885
Total U.S. 140,534 136,350 134,391

SOYBEAN MEAL Mar 12 Feb 12 Mar 11
Exports (short tons) 681,533 658,542 518,861
Production (mln tons) 3.37 3.27 3.28
Yield/Bu (lbs) 47.94 47.95 48.04

SOYBEAN OIL Mar 12 Feb 12 Mar 11
Production (mln lbs) 1,623.0 1,568.7 1,565.1
Yield/Bu (lbs) 11.55 11.51 11.65

SOYBEAN OIL STOCKS (1,000 lbs):
Mar 12 Feb 12 Mar 11

Illinois 475,922 437,615 561,879

Ind, Ky, Ohio, Mich 434,196 371,147 611,351
Southeast 117,669 125,906 138,310
Southwest 465,721 445,762 588,963
Iowa 785,686 776,028 851,104

Minn, N/SDak., Mont 84,009 85,800 308,185
Total U.S. stocks 2,363,202 2,242,258 3,059,793

RTRS- Brazil soy crop sales, harvest - Celeres

SAO PAULO, April 16 (Reuters) - Sales of Brazil's 2011/12 soybean crop rose to 72 percent of the total expected production of 67.9 million tonnes, up from 70 percent a week earlier, local grain analysts Celeres said on Monday.

Harvest is in the final few weeks across the soy belt, where rain has been less than optimal this year. Dry weather has slashed about 10 million tonnes off expected output from the world's No. 2 soybean producer.

Celeres said harvest has reached 88 percent of the crop area by April 13, up from 82 percent in the week prior. Last year at this time, 85 percent of the crop had been collected. Harvest has essentially finished in the No. 1 soybean state Mato Grosso, No. 2 soy state Parana, No. 4 soy state Goias and No. 5 Mato Grosso do Sul.

No. 3 soy state Rio Grande do Sul is the only major producer to still be harvesting. The southernmost state has harvested 56 percent of its crop by the week ending April 13, Celeres said in a weekly bulletin on the soy crop. The south has been worst hit by this season's drought.

Rio Grande do Sul is due to get heavy rain later this week that will be too late to help parched crops but could slow harvesting. As the wet weather pushes across the rest of the grain belt it will help the development of the second, or winter, corn planting which expanded to record area this year.

The second crop is planted directly following the harvest of the summer soy and corn crops.

Brazil is the world's second biggest soybean producer after the United States and is expected to surpass it to become the largest exporter of the oilseed this year for the first time
since 2005/06.

RTRS- Fire shutters USDA, disrupts data flow to markets

WASHINGTON, April 16 (Reuters) - An overnight fire forced the closure of the Agriculture Department complex on the National Mall and disrupted the flow of data to commodity markets, including a closely watched report on U.S. crop development, officials said on Monday.

The weekly crop progress report, ordinarily released on Monday afternoon, was tentatively rescheduled for Tuesday. A final decision on the time was expected later on Monday.

Also delayed by the closure were reports such as the weekly tally of grain inspected for export, a gauge of demand for U.S. crops.

Because of the fire, power was shut off to the South Building, the third-largest federal building, and internal USDA computer networks were shut down. Spokesmen said the shutdown disrupted work on the crop progress report, which usually receives reports from the field on Monday for compilation into a nationwide report with state-by-state data.

Trader's Highlight

DJI- NEW YORK, April 16 (Reuters) - Global stocks faltered on Monday despite stronger-than-expected U.S. retail sales, while government debt prices rose as worries about Spain's fiscal problems and a resurgent euro zone crisis weighed on investor sentiment.

The dollar retreated against the euro and gold prices fell after Spain acknowledged it has probably tipped into its second recession since 2009. [ID:nL6E8FG9K3]

Spanish 10-year government bond yields broke through the 6 percent mark for the first time since December, sparking a record-breaking rally in low-risk German debt. Spanish yields were expected to continue rising toward 7 percent - a level beyond which debt costs are widely viewed as unsustainable - unless the European Central Bank resumes its bond purchases after a two-month break.

Concern is growing that the recession will make it impossible to meet deficit targets and that Spain will have to seek some form of international bailout even as the Spanish government says it is committed to making major budget cuts.

The Dow Jones industrial average <.DJI> closed up 71.82 points, or 0.56 percent, at 12,921.41. The Standard & Poor's 500 Index <.SPX> fell 0.69 points, or 0.05 percent, at 1,369.57. The Nasdaq Composite Index <.IXIC> slid 22.93 points, or 0.76 percent, at 2,988.40.

NYMEX- NEW YORK, April 16 (Reuters) - U.S. crude futures ended slightly higher on Monday as news of an earlier target date for the reversal of the Seaway oil pipeline prompted heavy transatlantic spread trading.

Pipeline owners Enterprise Product Partners and Enbridge plan to advance the reversal of the flow of the pipeline by mid-May, pending regulatory approval, about two weeks ahead of schedule. [ID:nL2E8FG4IQ]

The reversal would help ease the glut in U.S. crude stockpiles in the Midwest as the pipeline will bring Canadian oil and North Dakota crude directly to the U.S. Gulf Coast. [ID:nL2E8FG4IQ]

U.S. crude futures fell in early trade as the resumption of talks in Istanbul between Iran and six world powers during the weekend over Tehran's disputed nuclear program elicited positive
reaction from oil investors.

Negotiators from Iran and the world powers agreed to meet again on May 23 in Baghdad. However, the United States remained on guard and President Barack Obama said more sanctions would be imposed against the Islamic Republic if there was no breakthrough in the talks in the coming months. [ID:nl2E8FF21R]

* On the New York Mercantile Exchange, crude for May delivery , which expires on Friday, settled at $102.93 a barrel, up 10 cents, or 0.10 percent, after trading between
$101.80 and $103.37.

* U.S. June crude settled at $103.37, up 5 cents, while ICE Brent June crude settled down $2.53, or 2.09 percent, at $118.86, narrowing the Brent premium against U.S. crude to $15.31. The June/June premium ended at $17.89 on Friday.

CBOT- Soybean futures on the Chicago Board of Trade fell 1 percent, the most in four weeks, on technical selling and long liquidation following last week's 7-1/2 month high, traders
said.

* Spillover pressure from CBOT corn and wheat futures, which fell as favorable U.S. crop weather boosted crop prospects.

* Additional pressure from investors exiting long soy/short corn spreads.

* Large speculators hold a record-large net long position in CBOT soybeans, CFTC data showed on Friday, leaving the market vulnerable to bouts of long liquidation. [ID:nL2E8FDGCV]

* Funds also hold a hefty net long in soymeal and soyoil.

* The National Oilseed Processors Association (NOPA) reported the U.S. soybean crush for March at 140.534 million bushels, up from 136.35 million in February but below an average of trade estimates for 143.8 million.

* NOPA reported U.S. end-March soyoil stocks at 2.363 billion lbs, up from 2.242 billion in February and above the average trade estimate of 2.338 billion.

* Analysts at Celeres reported Brazil's soy harvest at 88 percent complete as of April 13, up from 82 pct a week earlier; sales rose to 72 pct of expected production, up from 70 pct the previous week. [ID:nL2E8FG96T]

* USDA said an overnight fire delayed its weekly export inspections and crop progress reports. The crop progress report, ordinarily released on Monday afternoon, was rescheduled for
Tuesday. [ID:nL2E8FG8RE]

FCPO- SINGAPORE, April 16 (Reuters) - Malaysian palm oil futures inched down on Monday as a drop in export numbers for the first half of the month led some traders to book profits, although losses were curbed by tightening edible oil supply.

Palm oil hit a 13-month high at 3,628 ringgit per tonne last week after Malaysian stocks fell below the 2-million-tonne mark for the first time this year, fanning fears of tighter global supplies, given the drought hitting the South American soy crop.

But the futures market ended that week with a loss of 2.6 percent, as some traders said the market was overbought.

Malaysian palm oil exports fell by a steep 14.8 percent for the first half of April from a month earlier, cargo surveyor Intertek Testing Services said, although analysts said that might not necessarily be a sign of weaker demand. [PALM/ITS]

"You can't just look at what happens in 15 days and say that demand is weak. There may be other reasons, such as timing in shipping. We need to get the overall (export data) for the month
(to gauge demand)," said James Ratnam, an analyst at TA Securities in Malaysia.

"It seems more like technical selling. Exports for the first 15 days down 15 percent, it could be a good excuse to sell. It doesn't really translate into weak demand. Demand might not be as strong as last month but 15 percent is a bit too steep."

At closing, benchmark July palm oil futures on the Bursa Malaysia Derivatives Exchange inched down 0.3 percent at 3,487 ringgit ($1,138) per tonne.

Traded volumes stood at 28,067 lots of 25 tonnes each, slightly higher than the usual 25,000 lots.

On the technicals front, Reuters market analyst Wang Tao maintained a bearish view, saying palm oil would slide further to 3,401 ringgit per tonne. [ID:nL3E8FG1IH]

On the supply side, Malaysia's palm oil stocks for March fell to a seven-month low at 1.96 million tonnes, beating market estimates and prompting some traders to lock in more crude palm oil purchases.

Another cargo surveyor Societe Generale de Surveillance reported a 13.5 percent drop in exports for April 1-15, echoing earlier data issued by ITS. Exports for refined products suffered declines as the Indonesia tax advantage drew orders away from No.2 producer Malaysia.[PALM/SGS]

REGIONAL EQUITY- April 16 (Reuters) - The Philippines stock market rose to a four-week high and Singapore hit a two-week high on Monday, but most other Southeast Asian stock markets closed weaker after a surge in Spanish bond yields renewed concerns about Europe's
debt crisis and undermined investor appetite for riskier assets.

Singapore <.FTSTI> ended 0.1 percent up at its highest since April 3, with oil rig builder Keppel Corp Ltd gaining 1.2 percent on a record $4.1 billion Brazil oil-rig order.

The Manila stock market <.PSI> rose 0.4 percent to its highest since March 19.

Indonesia <.JKSE> fell 0.3 percent with net foreign selling of $34 million, while Malaysia <.KLSE> closed 0.4 percent weaker.

Vietnam <.VNI> closed 1.2 percent firmer. Thailand's stock market <.SETI> was closed for the Songkran holiday.
((shihar.aneez@thomsonreuters.com; +94-11-232-5540; Reuters

RTRS- India's March palm oil imports fall 29 pct-trade

NEW DELHI, April 13 (Reuters) - India's palm oil imports fell more than expected in March from the previous month as crude variety purchases fell more sharply than expected on higher prices while the decline in refined oil was broadly in line with forecasts in a Reuters poll.

Importers bought 28.6 percent less total palm oil in March with crude palm oil purchases at 278,696 tonnes, down 22.5 percent from the previous month, data from the Solvent Extractors' Association (SEA) showed on Friday.

Refined palm oil imports fell 38.6 percent as buying eased when New Delhi failed to introduce an anticipated import duty to counter export tax changes by Indonesia.

India, the world's No. 1 importer of cooking oils, buys mainly palm oil from Indonesia and Malaysia and a small quantity of soyoil from Argentina and Brazil.

"Palm oil imports fell as import duty tinkering by the government didn't take place, while high prices also prompted the lower monthly buy," said Prasoon Mathur, a senior analyst with Religare Commodities.

In March, Malaysia's lower stocks and higher export demand pushed the delivered cost at Indian ports of crude palm oil up by 5-10 percent, a Mumbai-based trader said.

Crude palm oil cost around $1,130 per tonne on a delivered basis to Indian ports in March, higher than $1,073 per tonne in February. Global benchmark crude palm oil prices on the Bursa Malaysia Derivatives Exchange were up 0.5 percent at 3,578 ringgit ($1,170) per tonne on Friday. [ID:nL3E8FD4TS]

India imported 186,788 tonnes of refined palm oil in March, down from 304,048 tonnes in February.

Refined palm oil imports had almost trebled in February from January as buyers scrambled to stock up ahead of the March 16 budget, but dropped off in March as the world's top vegetable oil buyer did nothing to curb overseas purchases. Indonesia, the world's top palm oil producer, altered taxes in October 2011 to make exports of refined oil more attractive than those of crude palm oil to promote its downstream industry.

The higher than expected fall in palm oil purchases brought the country's total vegetable oil imports to 727,706 tonnes in March, down 17 percent from February, the Mumbai-based trade body said.

A Reuters survey had forecast average total vegetable oil imports of 847,857 tonnes in March. [ID:nL3E8FA4DH]

Soyoil imports rose 28.1 percent over February as local supply has been exhausted, while sunflower oil imports were down 6.4 percent from the previous month as demand cooled off when the winter wedding season -- a time of feasting and frying -- ended. [$1 = 3.0670 ringgits]

RTRS- China 2012 corn acreage seen up 2.7 pct, soy down -report

BEIJING, April 13 (Reuters) - China's corn acreage this year is projected to rise 2.7 percent from 2011 to reach 35 million hectares, driven by record domestic prices and Beijing's subsidies, an industry website quoted an agriculture ministry survey as saying.

A bumper corn harvest could boost supplies in the world's second largest consumer of the grain, whose production growth has fallen short of rising demand over the past three years, turning China into a net importer of corn since 2009.

"Supply of corn seeds in parts of northeast provinces has begun to fall short of demand because farmers have shown strong interest in planting corn," the ministry said after a survey of 500 counties in a report carried on an industry website (www.chinagrain.cn).

The survey data was in line with an earlier Reuters' report based on comments by farmers and analysts. [ID:nL3E8F93UC]

Acreage under soybean is likely to fall 11.2 percent this year as many farmers in the northeast provinces of Heilongjiang and Inner Mongolia have shifted to growing corn instead of soy, although wheat acreage would stay steady, the report said.

The ministry has not published the survey on its web site.(www.moa.gov.cn).

Lower soy output in China, the world's top soy importer, will drive the country to import, since domestic soy is used mainly to make food, such as tofu. Almost all Chinese crushers depend on soy imports for processing into soymeal, a feed ingredient in demand by the livestock industry.

A survey by the National Bureau of Statistics also expected an increase in corn acreage, but the bureau gave no figures.

RTRS- NOPA March U.S. soy crush seen at 143.8 mln bu

CHICAGO, April 13 (Reuters) - The National Oilseed Processors Association's monthly soybean crush data slated for release on Monday should show the U.S. crush for March at 143.8 million bushels, analysts projected on Friday.

Trade estimates ranged from 139.0 million to 146.3 million bushels. NOPA reported the February crush at 136.35 million bushels and March 2011 at 134.391 million bushels.

The average of analysts estimates for March U.S. soyoil stocks was 2.338 billion lbs, up from NOPA's February figure of 2.242 billion lbs. Forecasts ranged from 2.292 billion to 2.417 billion lbs.

RTRS- Iran buys Indian soymeal at record prices

SINGAPORE/NEW DELHI, April 13 (Reuters) - Iran has stepped up soymeal purchases from India, taking up to 275,000 tonnes in recent deals at record prices as the nation fights Western sanctions that have reduced its ability to source food from other origins.

Global soymeal prices have also been driven up by tightening supplies following a drought in South America and expectations of lower soybean plantings in the United States. The benchmark U.S. soymeal futures this week climbed to highest since August 2009, to around $396.6 a short tonne.

Indian exporters are negotiating more deals and there are expectations that soymeal contracts for another 200,000 to 250,000 tonnes will be signed in the coming weeks, trade sources in Singapore and New Delhi said on Friday.

"The Iranian situation is such that they can't buy from any other part of the world," said one Singapore-based trader. "So they are paying through the nose for Indian meal."

Iran's government is expected to start buying hundreds of thousands of tonnes of feed grains as Western sanctions are causing enormous disruption to the financing of Iran's imports, traders said on Thursday.

Iranian farmers face a shortage of feed for their huge livestock flocks as private-sector grain importers are unable to arrange payments, traders said.

Though food shipments are not targeted under the Western sanctions aimed at Iran's disputed nuclear programme, financial measures have frozen Iranian firms out of much of the global banking system, hindering grain buying.

The Iranian government, which had bought more than 2 million tonnes of bread-making wheat recently, is now poised to make substantial feed grain deals.

Iran's imports of soybeans, soymeal and soyoil are being sharply reduced by the sanctions imposed on the country over its nuclear programme by the U.S. and European Union, Hamburg-based oilseeds analysts Oil World said last week.

Trader's Highlight

DJI- NEW YORK, April 13 (Reuters) - U.S. stocks closed their worst two-week slide since November with a selloff on Friday as disappointing China growth data sparked worries the global recovery was flagging.

Concerns that Europe's debt crisis was flaring up again added to selling pressure. Sectors taking the hardest hit were those most closely linked to growth, including materials, energy and financials.

The S&P 500 is now down 3.4 percent from this year's closing high, after falling 2.7 percent over the past two weeks.

The cost of insuring Spanish debt against default hit 500 basis points for the first time on fears about the high exposure of the country's banking sector to sovereign debt.
[ID:nL3E8FD8W2] [ID:nL6E8FD4LU]

Data showed that China's economy expanded 8.1 percent in the first quarter, a rate that was slower than expected and the country's weakest pace in nearly three years.

The Dow Jones industrial average <.DJI> tumbled 136.99 points, or 1.05 percent, to 12,849.59 at the close. The Standard & Poor's 500 Index <.SPX> slid 17.31 points, or 1.25 percent, to
1,370.26. The Nasdaq Composite Index <.IXIC> dropped 44.22 points, or 1.45 percent, to 3,011.33.

NYMEX- NEW YORK, April 13 (Reuters) - U.S. crude futures fell on Friday, following gains the previous two days, after data from China showed lower-than-expected quarterly economic growth, going against market speculation that pushed up prices in the previous session.

U.S. consumer sentiment slipped modestly in early April due to higher gasoline prices, according to the weekly Thomson Reuters/Univeristy of Michigan survey, also helping to pull down
crude futures. [ID:nL2E8FD4N1]

In addition, the Economic Cycle Research Institute's measure of U.S. economic growth eased last week, which was bearish for oil futures, though the annualized rate continued to improve.
[ID:nN9E8E5011]

Iran and six world powers prepared for Saturday's resumption of talks about Tehran's disputed nuclear program, making oil traders cautious, although no major breakthroughs are expected
at the meeting to be held in Istanbul. [ID:nL6E8FD2KP]

Iran's tensions with the West over its nuclear program have caused oil prices to rise in recent months and led to the United States and the European Union apply sanctions against the
Islamic Republic.

To avoid impact of the sanctions, Iran is concealing the destination of its oil sales by disabling tracking systems aboard its tanker fleet, making it difficult to assess how much crude Tehran is exporting. [ID:nL6E8FD4HU]

* On the New York Mercantile Exchange, May crude settled at $102.83 a barrel, down 81 cents, or 0.78 percent, after trading between $102.61 and $103.90.

* For the week, front-month crude dipped 48 cents, or 0.46 percent, after ending up at $103.31 in the week to April 4. Front-month crude has fallen in four of the last five weeks.

* Money managers cut their net long U.S. crude futures and options positions in the week to April 10 by 26,000 contracts to 199,924, according to a weekly report from the U.S. Commodity
Futures Trading Commission. [ID: nEMS26LQG7}

* The annual rate of growth in China's gross domestic product slowed to 8.1 percent in the first quarter, weakest pace in nearly three years, and below the consensus forecast of 8.3 percent. [ID:nL3E8FD8W2] That reading marked a drop from the fourth-quarter rate of 8.9 percent.

* China's implied oil demand rose moderately in March from a year ago, but was at a five-month low on a daily basis as refineries scaled back runs to the lowest since October due to maintenance and poor refining margins. {ID:nL3E8FD1UJ]

CBOT- Soybean futures on the Chicago Board of Trade ended, pressured by spillover weakness from corn and wheat as worries about slowing growth in China triggered a broad sell-off in
commodities, traders said.

* Losses were limited by robust export demand for U.S. soybeans as South American soy supplies tighten.

* Spot soybeans ended the week up 0.2 percent, the market's third consecutive weekly rise.

* Soymeal ended mixed, with nearby contracts higher on meal/oil spreading and rumors of European interest in U.S. soymeal, traders said. May and July soymeal posted contract highs and May reached $397.40 a ton, the highest spot price in 2-1/2 years.

* USDA confirmed sales of 165,000 tonnes of U.S. soybeans to China for delivery in 2012/13, boosting sales to China to 445,000 tonnes for the week. All but 55,000 tonnes were sold for
delivery in 2012/13. [ID:nL2E8FD39A]

* The average trade estimate ahead of March U.S. soy crush data due from the National Oilseed Processors Association on Monday was 143.8 million bushels, compared with NOPA's February
figure of 136.35 million bushels. [ID:nL2E8FD9J2]

* Iran has stepped up soymeal purchases from India, taking up to 275,000 tonnes in recent deals at record prices as the nation fights Western sanctions that have reduced its ability to
source food from other origins. [ID:nL3E8FD7P1]

* China's soybean acreage is likely to fall 11.2 percent in 2012 as many farmers in Heilongjiang and Inner Mongolia have shifted to growing corn, an industry website quoted an agriculture ministry survey as saying. [ID:nL3E8FD3BS]

FCPO- SINGAPORE, April 13 (Reuters) - Malaysian palm oil futures closed lower on Friday, as traders took profits from a 13-month high hit earlier in the week, while market players are also keeping a close watch on Malaysian palm exports data due on Monday.

Palm oil futures went as high as 3,628 ringgit on Tuesday, a level not seen since March 8 last year, as industry regulator Malaysian Palm Oil Board data pointed to lower-than-expected
stocks and improving exports, painting a bullish picture for the edible oil.

Benchmark June palm oil futures on the Bursa Malaysia Derivatives Exchange traded 1.4 percent lower to close at 3,510 ringgit ($1,150) per tonne.

Traded volumes stood at 35,013 lots of 25 tonnes each, much higher than the usual 25,000 lots.

On the technicals front, Reuters market analyst Wang Tao posted a bearish view, saying palm oil would drop to 3,481 ringgit per tonne, based on a wave cycle analysis. [ID:nL3E8FD2CJ]

Malaysia's palm oil stocks for March fell to a seven-month low at 1.96 million tonnes, exceeding estimates in a Reuters poll that called for a 3.5 percent drop in palm stocks to 1.99 million tonnes, prompting some traders who worried about the shortfall to buy more crude palm oil. [PALM/POLL]

Export demand, meanwhile, recorded a monthly gain of close to 9 percent for the first 10 days of April. Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance will release exports for the first 15 days of April on Monday.[PALM/ITS][PALM/SGS]

REGIONAL EQUITY- April 13 (Reuters) - Most Southeast stock markets gained on Friday with Singapore, Indonesia and the Philippines hitting more than one-week closing highs as a better-than-expected outcome for Italy's sovereign debt sale aided sentiment though slower first quarter Chinese growth capped gains.

The Philippines <.PSI> jumped 1 percent to its highest close since April 2 led by holding firms. Indonesia <.JKSE> rose 0.5 percent to its highest closing since April 5, while Malaysia
<.KLSE> closed 0.1 percent firmer.

Singapore <.FTSTI> edged up 0.3 percent with shares of Keppel Corp Ltd jumping 2 percent after brokers issued upbeat notes on the company following a record $4.1 billion Brazil rig order.

Bucking the trend, Vietnam <.VNI> closed 0.6 percent weaker. Thailand's stock market <.SETI> was closed for the Songkran holiday.

RTRS- SOUTH AMERICAN SOYBEAN CROP LOSSES EYED

For soybeans, the ongoing effects of drought in South America remain at the fore. Analysts expect USDA to cut its soybean production estimates for Brazil, Argentina and possibly Paraguay.

As a consequence, the trade also expects USDA to lower its forecast of U.S. 2011/12 soybean ending stocks because the crop losses in South America should steer more export demand to the United States.

USDA in March pegged Brazil's soybean harvest at 68.5 million tonnes, but a report released Wednesday from USDA's attache in Brazil estimated the crop at 66 million tonnes. Attache reports are not official data but can signal moves the USDA might make in its next official forecasts.

The average Brazil soy crop estimate among 14 analysts surveyed by Reuters was 67.1 million tonnes.

USDA currently forecasts Brazil will be the world's biggest soybean exporter in the 2011/12 marketing year, with the United States and Argentina taking the No. 2 and 3 slots.

"There are no bean offers (for export) out of Argentina -- none for any slot. In Brazil, there are still offers, but they have sold so much into the export market that the crusher is getting concerned about the supplies left over," said Roy Huckabay with the Linn Group, a Chicago brokerage.

Along with increased U.S. exports, some analysts expect USDA to raise its estimate of the 2011/12 domestic soybean crush, currently forecast at 1.615 billion bushels. Soy crushers process soybeans into soyoil, which is used in foods and biodiesel fuel, and soymeal, used in livestock feed.

Bill Nelson of Doane Agricultural Services in St. Louis said a larger-than-expected U.S. crush figure reported by the National Oilseed Processors Association in mid-March laid the foundation for larger crush forecasts.

"It's indicative of stronger demand," he said of the monthly soy crush, which NOPA reported at 136.35 million bushels versus trade expectations for 134.5 million.

However, Nelson said soymeal prices have rallied sharply since the NOPA report and could hurt demand down the road.

RTRS- US corn stocks seen dropping to 16-year low

April 5 (Reuters) - U.S. corn supplies are expected to fall to a fresh 16-year low before the fall harvest, said analysts polled by Reuters, signaling there will be razor-thin supplies this year that could stoke food inflation and hurt margins for food companies.

Analysts expect USDA next week to cut ending stocks by 10 percent from its March estimate due to increased demand for feed and ethanol in the wake of a severe drought reducing supplies in South America.

Prices for corn will have to rise in order to dampen demand and preserve enough supplies to be held over into the next crop year in the United States, analysts said.

The U.S. Department of Agriculture (USDA) should confirm that scenario in its supply and demand report due out at 7:30 a.m. CDT (1230 GMT) on Tuesday.

An average of analysts' estimates pegged corn ending stocks at 721 million bushels, a 16-year low and down 80 million bushels from the government forecast in March. Analysts also predict U.S. soybean ending stocks to shrink to 246 million bushels, down 29 million bushels or 10.5 percent from USDA's March forecast of 275 million.

RTRS- Brazil soy crop sales, harvest - Celeres

SAO PAULO, April 9 (Reuters) - Sales of Brazil's 2011/12 soybean crop rose to 70 percent of the total expected production of 67.9 million tonnes, up from 68 percent a week earlier, analysts at Celeres said on Monday.

The harvest is winding down across the main center-west and southern soy belts, where rain has been less than optimal this year and will keep the world's No. 2 soybean producer from
surpassing last year's record harvest of 75.3 million tonnes.

Celeres said the harvest had reached 82 percent of the crop area by April 5, up from 76 percent in the week prior. Last year at this time, 77 percent of the crop had been collected. The No.
1 soybean state, Mato Grosso, has been finished harvesting for weeks.

No. 2 soy state Parana is nearly finished the harvest with 97 percent of its soybean brought in. No. 4 soy state Goias also recently finished with the harvest.

This week No. 3 soybean state Rio Grande do Sul is due to get rain that could slow the harvest. The water will be much too late to help the crop, which is 43 percent harvested. The state has been very dry since November and has lost a large share of its productive potential, which reached a record 11.6 million tonnes last season.

Brazil is the world's second-largest soybean producer after the United States and is expected to surpass it to become the largest exporter of the oilseed this year for the first time since 2005/06.

Trader's Highlight

DJI- NEW YORK, April 9 (Reuters) - The Dow and the S&P 500 extended losses to a fourth day on Monday, as investors took their cues from last week's disappointing jobs report, which raised fresh concerns about the U.S. economy's recovery.

Despite Monday's declines, the Dow industrials and the S&P 500 ended above their session lows. But trading has been choppy in recent weeks, with a series of gains interrupted by a few days of losses.

Banks and industrials led the S&P 500's slide, with the S&P financial sector index <.GSPF> and the S&P industrial sector index <.GSPI> each down 1.6 percent. The two sectors are closely tied to the prospects for economic growth.

The latest jobs figures added to a series of weaker-than-expected indicators, which have taken the edge off a strong multi-month rally.

In addition to the U.S. jobs figures released last week, China's surprisingly soft producer prices data sparked concerns about waning demand in the world's second-largest economy. The country's March PPI data reinforced expectations that a cooling economy has eclipsed inflation as the Chinese government's biggest near-term worry.

The Dow Jones industrial average <.DJI> fell 130.55 points, or 1.00 percent, to end at 12,929.59. The Standard & Poor's 500 Index <.SPX> slid 15.88 points, or 1.14 percent, to 1,382.20. The Nasdaq Composite Index <.IXIC> dropped 33.42 points, or 1.08 percent, to close at 3,047.08.

CBOT SOYBEAN-Soybean futures on the Chicago Board of Trade ended lower on long liquidation and profit-taking after the market set a seven-month high and ahead of a monthly U.S. government crop report, traders said.

* Soyoil gained against soymeal on oil/meal spreads.

* Spot soybeans reached $14.46-3/4 a bushel in Globex-only trade overnight, the highest spot soybean price on continuous charts since Aug. 31, 2011.

* CFTC data released Friday showed large speculators held a record-large net long position in CBOT soybeans of 206,437 contracts as of April 3, leaving the market open to bouts of
long liquidation. ID:nEMS10XE9J]

* Also, open interest in CBOT soybean futures hit a record-high 779,856 contracts as of Thursday.

* Soy market underpinned by concerns about a shrinking South American soybean harvest and worries that U.S. farmers might not plant enough soybeans this spring to meet global demand.

* Analysts surveyed by Reuters expect USDA in supply/demand reports on Tuesday to lower its forecast of U.S. 2011/12 soybean ending stocks, as well as its estimates of the 2011/12 soy
harvests in Brazil and Argentina. [ID:nL2E8F4A2E]

FCPO- SINGAPORE, April 9 (Reuters) - Malaysian palm oil futures eased on Monday, as market players booked profits from a 13-month high hit earlier in the day, with losses capped by expectations of lower stocks due to a shift in demand to palm oil from soyoil, where supply is tightening.

Industry regulator the Malaysian Palm Oil Board will issue the widely watched stocks data for March on Tuesday. [PALM/POLL]

Palm oil jumped almost 5 percent last week on improved demand following a damaging drought in soy-exporting South America and U.S. data showing farmers will plant less soy this
season, setting the stage for prices to fall back from an overbought position this week, traders said.

Benchmark June palm oil futures on the Bursa Malaysia Derivatives Exchange closed 0.8 percent lower at 3,575 ringgit ($1,165) per tonne after going as high as 3,623 ringgit, a level not seen since March 8 last year.

Traded volumes stood at 24,548 lots of 25 tonnes each, slightly lower than the usual 25,000 lots.

Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance will also release Malaysian palm oil exports data for the first 10 days of April on Tuesday. [PALM/ITS] [PALM/SGS]

REGIONAL EQUITY- April 9 (Reuters) - Most Southeast Asian markets fell on Monday as concerns over a sharp slowdown in U.S. jobs growth reduced investor appetite for risky assets in the region with Singapore falling to a one-month low in light trading volume.

Singapore <.FTSTI> fell 0.9 percent to hit its lowest since March 7, Indonesia <.JKSE> lost 0.3 percent led by financials with a $9.3 million outflow and Malaysia <.KLSE> ended 0.5 percent weaker to its lowest since March 29.

Bucking the trend, Vietnam <.VNI> closed 0.7 percent firmer. Stock markets in Thailand <.SETI> and the Philippines <.PSI> were closed for a holiday.

Trader's Highlight

DJI- NEW YORK, April 6 (Reuters) - U.S. stock futures closed lower on Friday in brief, holiday-thinned trading after a much weaker-than-expected report on U.S. job growth for March.

Trading volumes were light because of the Good Friday holiday and market closings in Europe. S&P 500 futures fell 1.2 percent, suggesting a weak open on Monday as the cash market is closed Friday.

U.S. payrolls grew by 120,000 in March, worse than the forecasted gain of 203,000 jobs. The unemployment rate dipped to 8.2 percent, down from 8.3 percent in February. [ID:nL2E8F5338]

The weak payrolls report could renew hopes for more monetary stimulus from the Federal Reserve. This week's release of minutes from its March meeting suggested less of an appetite for more stimulus despite committee members expressing worries about the sluggish pace of U.S. growth.

U.S. equities have rallied sharply in recent months, gaining nearly 30 percent since early October to push the S&P 500 near four-year highs. The market has stalled in the last few weeks as investors question the swiftness of the gains and whether economic data is strong enough to warrant higher stock prices.

S&P 500 futures fell 16.20 points to 1374. Nasdaq 100 futures dropped 1.1 percent, or 31.25 points, to 2722.75 in thin trading. Dow futures dropped 137 points, or 1.1 percent, to 12,841.

FCPO- SINGAPORE, April 6 (Reuters) - Malaysian palm oil futures rose to a near 13-month high on Friday, as traders continued to bet on strong demand ahead of key industry data due next week.

Palm oil recorded its best weekly performance since December with an almost 5.0 percent gain in response to a damaging South American drought and U.S. data showing farmers will plant less
soy, shifting demand for the tropical oil.

"The USDA report was the main driver. So far palm oil exports have also been holding up quite well, and the next official data on the 10th (of April) will be another key," said James Ratnam, an analyst with TA Securities in Malaysia.

"Market players are still worried about stocks, and hopefully demand has grown strong enough to offset any increase in stocks."

Benchmark June palm oil futures on the Bursa Malaysia Derivatives Exchange closed 1.3 percent higher at 3,604 ringgit ($1,165) per tonne after going as high as 3,607 ringgit, a level not seen since March 9 last year.

Traded volumes were thin at 18,810 lots of 25 tonnes each, compared to the usual 25,000 lots, as most financial markets were closed for the Good Friday holiday.

RTRS-Tugboats free grains ship blocking Argentine river

BUENOS AIRES, April 5 (Reuters) - Tugboats in Argentina's main grains export route managed on Thursday to dislodge a boat that ran aground three days ago, delaying at least 85 ships, a shipping industry group said.

The stranded vessel was preventing ships from leaving or entering the country's grains export hub, the port of Rosario. Argentina is one of the world's biggest suppliers of grains and harvesting is underway.

The Samjohn Liberty, being used by Louis Dreyfus to ship 48,000 tonnes of soymeal to Poland, ran aground on Monday about 150 kilometers (93 miles) from Rosario and tugboats were dispatched to help dislodge it.[ID:nL2E8F49D2]

Guillermo Wade, an official at the CAPyM shipping chamber, said traffic on the Parana River should soon be able to resume normal activity.

Port traffic picks up at this time of year as soy and corn harvesting gather speed in the South American country, although drought damage means soy and corn production look set to fall this season.

Earlier this year, a stranded boat disrupted shipping for almost two weeks before it could be freed. [ID:nL2E8CU6QX]

RTRS-US corn stocks seen dropping to 16-year low

April 5 (Reuters) - U.S. corn supplies are expected to fall to a fresh 16-year low before the fall harvest, said analysts polled by Reuters, signaling there will be razor-thin supplies this year that could stoke food inflation and hurt margins for food companies.

Analysts expect USDA next week to cut ending stocks by 10 percent from its March estimate due to increased demand for feed and ethanol in the wake of a severe drought reducing supplies in South America.

Prices for corn will have to rise in order to dampen demand and preserve enough supplies to be held over into the next crop year in the United States, analysts said.

The U.S. Department of Agriculture (USDA) should confirm that scenario in its supply and demand report due out at 7:30 a.m. CDT (1230 GMT) on Tuesday.

An average of analysts' estimates pegged corn ending stocks at 721 million bushels, a 16-year low and down 80 million bushels from the government forecast in March.

Analysts also predict U.S. soybean ending stocks to shrink to 246 million bushels, down 29 million bushels or 10.5 percent from USDA's March forecast of 275 million.

RTRS-Brazil 11/12 soybean output down on drought

April 4 (Reuters) - Following are selected highlights from a report issued by a U.S. Department of Agriculture attache in Brazil:

"Post estimates drought-reduced soybean production in 2011/12 at 66 million tonnes on 25 million hectares and exports at 29 million tonnes. The La Nina weather phenomenon brought a significant drought to southern Brazil resulting in an 11 percent reduction in 2011/12 crop from earlier estimates of 75 million tonnes.

Post forecasts 2012/13 soybean production at a record 77 million tonnes on an increased total area of 26 million hectares. Domestic demand for soybean oil is forecast to increase by 250,000-280,000 tonnes in 2013, should the Government of Brazil increase the biodiesel blend mandate to 7 percent from 5 percent."