DJI Daily: Correction phase is likely to extend

Correction phase is likely to extend in near term. Thus, we maintain the immediate support at 9430-9400 levels followed by 9300 levels. To the upside, resistance is pegged at 9820-9850 levels.

FKLI Daily: 1200 supported well

Market momentum strengthen further following prices rebounded for consecutive three trading days after found some support at 1200 levels. Hence, market may continue to consolidate in the range of 1200 to 1232 in near term.

Breaking News-RTRS-Killing freeze seen for U.S. Corn Belt next weekend

CHICAGO, Oct 5 (Reuters) - Cool and wet weather was expected to slow down the harvest of corn and soybeans in the U.S. Midwest this week, and a killing freeze was forecast for next weekend, a forecaster said on Monday.

Trader's Highlight

DJI-NEW YORK, Oct 5 (Reuters) - U.S stocks bounced back from a four-day losing streak on Monday, as optimism about upcoming earnings gathered steam and data showed the economy's critical services sector expanded for the first time since August 2008.

The Dow Jones industrial average <.DJI> was up 112.08 points, or 1.18 percent, at 9,599.75. The Standard & Poor's 500 Index <.SPX> was up 15.25 points, or 1.49 percent, at 1,040.46. The Nasdaq Composite Index <.IXIC> was up 20.04 points, or 0.98 percent, at 2,068.15.

NYMEX-NEW YORK, Oct 5 (Reuters) - U.S. crude oil futures rebounded late to end above $70 a barrel on Monday as Wall Street rose after data showed that the U.S. service sector
expanded for the first time in a year and the dollar fell as a result.

On the New York Mercantile Exchange, November crude settled up 46 cents, or 0.66 percent, at $70.41 a barrel, trading from $68.05 to $71.

CBOT-SOYBEANS - November unchanged at $8.85 a bushel. Spillover support from corn rally but gains limited by outlooks for record large U.S. soybean crop.

CBOT-SOYOIL - October down 0.20 cent per lb at 33.53; December down 0.22 at 33.85 cents.

FCPO-JAKARTA, Oct 5 (Reuters) - Malaysia's crude palm oil futures edged up on Monday, bouncing back from 11-week lows on short covering, but gave up most gains in late trade because of poor fundamentals, traders said.

The benchmark December contract on the Bursa Malaysia Derivative Exchange settled up 5 ringgit, or 0.25 percent, to 2,042 ringgit ($590.51) a tonne. Trade volumes were at 12,331 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, Oct 5 (Reuters) - Singapore shares fell to a
one-month low on Monday, led by blue-chips and financials such as Genting Singapore and DBS Group Holdings, while markets in Malaysia and Indonesia rebounded off early lows.

A disappointing U.S. September employment report on Friday pushed Singapore's benchmark index <.FTSTI> down 0.8 percent to its lowest since Sept. 4, while Thailand <.SETI> also lost 0.8 percent. Both countries are big exporters to the United States.

Malaysia <.KLSE> and Indonesia <.JKSE> bounced back late in the session, while the Philippines <.PSI> and Vietnam <.VNI> ended slightly off.

FCPO Daily: Struggling at around 2000 levels

Market was struggling at above 2000 levels after the sharp fall. Overall technical landscape remains bearish. As for now, we are looking for the immediate downside support at 2028-2000 followed by 1980-1960. To the upside, resistance is pegged at 2100-2130.

NYMEX Crude Daily: still in consolidation

Market remains in consolidation zone with cap in the range of USD73 and USD65. Thus, violation of either way may give a more clearer direction to market.

DJI Daily: in Correction mode

Market may due for a correction phase despite prices rebounded after recent sharp drop. Thus, we maintain the immediate support at 9430-9400 levels followed by 9300 levels. To the upside, resistance is pegged at 9820-9850 levels.

FKLI Daily: Holding ground steady

Market is holding ground steady after found some cushion at around 1200 levels. Hence, market may continue to sideways in consolidation mode in near term. We maintain the immediate downside support at 1200 followed by 1190-1185. To the upside, resistance is maintain at 1220-1225 followed by 1232.

Breaking News-RTRS-UPDATE 1-Informa sees record U.S. corn, soy crops

CHICAGO, Oct 2 (Reuters) - Analytical firm Informa Economics raised its forecasts for 2009 U.S. soybean and corn output, expecting record harvests of both, trade sources said on Friday.
Memphis, Tennessee-based Informa estimated this season's U.S. soy crop at 3.383 billion bushels with an average yield of 44 bushels per acre (bpa). Corn output was seen at 13.127 billion bushels, reflecting an average yield of 164.7 bpa.
Both estimates surpass previous records. U.S. farmers harvested their largest corn crop of 13.074 billion bushels in 2007 and soybeans at 3.197 billion in 2006.

Breaking News-RTRS-UPDATE 1-Brazil 09/10 soy crop seen record 63.4 mln T-Abiove

SAO PAULO, Oct 2 (Reuters) - Brazil's 2009/2010 soybean crop that is now being planted is forecast at a record 63.4 million tonnes, up from 57.3 million tonnes last season, the country's grain crushing industry association Abiove said on Friday.
This is Abiove's first forecast of the new crop.
Brazil's soybean exports for 2009/10 are expected to fall to 25.8 million tonnes from a record 27.4 million tonnes in this February-January commercial year. It also expects crushing to rise to 32.2 million tonnes from 29.8 million this season.

Trader's Highlight

DJI-NEW YORK, Oct 2 (Reuters) - U.S. stocks fell for the fourth straight day on Friday as weak jobs data gave more evidence the economic recovery would be less robust than expected. The much bigger-than-forecast drop in September non-farm payrolls and a decline in factory orders pulled down economically sensitive sectors like industrials and energy.

The Dow Jones industrial average <.DJI> fell 21.61 points, or 0.23 percent, to close at 9,487.67. The Standard & Poor's 500 Index <.SPX> dropped 4.64 points, or 0.45 percent, to 1,025.21. The Nasdaq Composite Index <.IXIC> lost 9.37 points, or 0.46 percent, to 2,048.11.

NYMEX-NEW YORK, Oct 2 (Reuters) - U.S. crude oil futures settled more than 1 percent lower on Friday, as doubts over an economic recovery resurfaced after data showed that the U.S. unemployment rate had soared to a 26-year high.

On the New York Mercantile Exchange, November crude settled down 87 cents, or 1.23 percent, at $69.95 a barrel, trading from $68.32 to $70.69. From a week ago, NYMEX October crude rose $3.93, or 5.95

CBOT-SOYBEANS - November down 33 cents at $8.85 a bushel.

Early harvest of likely record U.S. soybean crop, diminished concerns about frost damage and weak crude oil pressuring soybean futures.

CBOT-SOYOIL - October down 0.52 cent at 33.73 cents per lb; December down 0.52 cent at 34.07. Pressure from falling soybeans and weak crude oil.

FCPO-KUALA LUMPUR, Oct 2 (Reuters) - Malaysia's crude palm oil futures tumbled as much as 4.1 percent on Friday when traders triggered selling orders after the market breached a key support level.

There was no fresh news but weaker U.S. crude oil helped spur the selling. Traders say palm oil's fundamentals are not reflected in the benchmark December contract , which is the lowest since July 16.

The contract fell as much as 87 ringgit to 2,028 ringgit ($583.3) before settling at 2,036 ringgit. Trade volumes were at 9,451 lots of 25 tonnes each, just a touch below the usual 10,000 lots traded.

REGIONAL EQUITIES-BANGKOK, Oct 2 (Reuters) - Singapore stocks slid nearly two
percent on Friday, leading losses across Southeast Asia following disappointing U.S. economic data.

Sentiment turned cautious after Wall Street suffered its worst one-day fall in three months on renewed fears about the durability of the economic recovery.

Singapore's Straits Times Index <.FTSTI> dropped nearly two percent to its lowest since Sept. 4. DBS Group Holdings , Southeast Asia's biggest lender, slid 1.8 percent and Singapore Telecommunications lost 2 percent.

Malaysia's index <.KLSE> inched down 0.2 percent, Thailand <.SETI> slid 0.3 percent and Indonesia's index <.JKSE> ended flat, reversing a 1.8 percent fall earlier.

FCPO Weekly: Bears won the battle

Bears won the battle following prices violated the recent low at 2070 (low since 20 Sept, 2009) had dampened the overall technical outlook. As for now, immediate downside support is looking at 2000 followed by 1980-1960. To the upside, resistance is pegged at 2200-2240.

NYMEX Crude Weekly: Stuggle to survive

Market is struggling to survive at above USD65, violation of it may weaken further the overall immediate technical landscape. Thus, we maintain our view in sideways to bias downside potential in near term. As for now, we are looking for the upside resistance at USD73-75. While, downside support is looking at USD62.70-58.30.

CBOT Soyoil Weekly: No clear direction

Market stuck in correction zone without any clear direction. Violation of the downside support at US32.00 may provide more room to bias downside potential. While, to the upside, resistance is pegged at USD36.00.

DJI Weekly: May due for consolidation

Weekly technical landscape remains positive despite prices violated the immediate support at 9600 levels. Thus, market may due for consolidation phase in near term with upside resistance is pegged at 9900-10,000 levels. To the downside, support is maintain at 9400-9200 levels.

FKLI Weekly: Holding ground

Market continue to hold ground maintain its upward posture. Thus, we maintain the upside resistance at 1230-1240. Downside support is pegged at 1190-1180.

Trader's Comment: Palm oil futures inched higher after tight range trading.

Palm oil futures inched higher after tight range trading. Benchmark Dec09 had been hovering between 2130-2116 through out most of the sessions before it hit intra day low of 2112 in late trading and settled RM10 higher at 2115. The strong close in overnight NYMEX crude oil which gained more than USD3 had lifted BMD market to trade in positive territory today. Nevertheless, trading activity remained inactive and volume fell dramatically with only a total of 9,041 contracts traded in the market due to China market holiday in conjunction with their National Day. Asian time NYMEX crude oil eased off on profit taking after its overnight strong gains while eCBOT soy oil traded mix to steadier.

Trader's Highlight

DJI-NEW YORK, Oct 1 (Reuters) - The Dow and S&P 500 suffered their worst one-day fall in three months on Thursday after economic reports fueled fears about the recovery's strength.

The Dow Jones industrial average <.DJI> tumbled 203.00 points, or 2.09 percent, to end at 9,509.28. The Standard & Poor's 500 Index <.SPX> slid 27.23 points, or 2.58 percent, to 1,029.85. The Nasdaq Composite Index <.IXIC> lost 64.94 points, or 3.06 percent, to 2,057.48.

Bank of America Corp shares slipped 4.2 percent to $16.21 after Chief Executive Ken Lewis said he was retiring after months of being dogged by a series of government investigations into the company's acquisition of Merrill Lynch. The company did not name a successor. The news was announced late on Wednesday.

NYMEX-NEW YORK, Oct 1 (Reuters) - U.S. crude futures closed higher in a late run-up on Thursday on worries about talks between Iran and the West over its nuclear program and as follow-through buying spurred by improved demand lifted gasoline futures.

U.S. President Barack Obama said on Thursday Iran heard a unified message from the international community at talks in Geneva, and Tehran must now take steps to ensure its nuclear program is not for weapons.

On the New York Mercantile Exchange, November crude settled up 21 cents, or 0.3 percent, at $70.82 a barrel, trading from $69.13 to $71.39.

CBOT-SOYBEANS - November down 9 cents at $9.18 a bushel. Following drop in crude oil market amid thin volume. Expectations for a large crop also weigh on prices.

CBOT-SOYOIL - October up 0.28 cent at 34.25 cents per lb; December up 0.26 cent at 34.59. Some unwinding of meal/oil spreads supports market but drop in crude oil prices limits gains.

FCPO-KUALA LUMPUR, Oct 1 (Reuters) - Malaysian crude palm oil futures inched up 0.5 percent on Wednesday as a jump in crude prices the previous day lifted the market in light trade.

The benchmark December contract on the Bursa Malaysia Derivative Exchange settled up 10 ringgit to 2,115 ringgit ($611.3) per tonne after going as high as 2,130 ringgit.

REGIONAL EQUITIES-On Monday, the market fell to 2,082 ringgit, a level unseen
since Se BANGKOK, Oct 1 (Reuters) - Southeast Asian stock markets ended mixed on Thursday with Thailand outperforming on buying in banking shares while big capitalised companies such as Ayala Land, Axiata Group and Medco Energy led the way elsewhere.

Regional markets came off their days' high as trading volume declined amid caution over the pace of economic recovery. Thailand's index <.SETI> climbed 1.4 percent, Malaysia's index <.KLSE> added 0.5 percent, Indonesia's index <.JKSE> was up 0.4 percent while the Philipines <.PSI> gained 1 percent.

Indexes in Singapore <.FTSTI> and Vietnam <.VNI> drifted into a negative territoy, sliding 0.6 percent and 2.1 percent, respectively. pt. 14.

FCPO Daily: No clear direction

Market stuck in tight rangy mode above 2100 levels without any clear direction. Thus, market may continue its consolidation phase in near term. Hence, we maintain the downside support and upside resistance at 2070 and 2190-2220 levels respectively.

DJI Daily: Disappointed bulls

A sharp decline to violate the downside support at 9600 levels had weaken the overall technical outlook. Thus, upside gain is limited following prices losing ground and more room to bias downside potential in near term market. As for now, we are looking for the immediate support at 9440 to 9420 levels followed by 9300 levels. To the upside, resistance is pegged at 9820-9850 levels.