FKLI Daily: Losing ground

Market continue to lose ground following prices close weak for consecutive three trading days. Currently, we are looking for the underline support at 1230 levels. Violation of it may see further correction in near term. Upside is still pegged at 1273.5.

Breaking News-RTRS-Most European firms not buying green palm oil-WWF

KUALA LUMPUR, Oct 28 (Reuters) - Most European palm oil buyers have shunned expensive eco-friendly palm oil, derailing efforts to preserve rainforests, environment group WWF said on Wednesday.
A scorecard by WWF showed only ten of 59 European manufacturers and retailers have sourced palm oil from Southeast Asian producers who do not fell rainforests and destroy wildlife. Among the top ten are Unilever and Cadbury .
As of October, less than a fifth of the 1 million tonnes of palm oil certified as environmentally-friendly has been bought, WWF data showed, although market uptake was on the rise in the last four months.
WWF issued the scorecard a week before the industry-driven Roundtable of Sustainable Palm Oil (RSPO) meets in the Malaysian capital to assess the development of a green standard for top palm suppliers Indonesia and Malaysia.

Trader's Highlight

DJI-NEW YORK, Oct 27 (Reuters) - The S&P 500 and the Nasdaq fell on Tuesday as investors booked profits following the stock market's recent run-up, while a weaker-than-expected reading on a measure of consumer confidence raised doubts about spending.

The Dow Jones industrial average <.DJI> gained 14.21 points, or 0.14 percent, to 9,882.17. The Standard & Poor's 500 Index <.SPX> fell 3.54 points, or 0.33 percent, to 1,063.41. The Nasdaq Composite Index <.IXIC> declined 25.76 points, or 1.20 percent, to 2,116.09.

NYMEX-NEW YORK, Oct 27 (Reuters) - U.S. crude oil futures extended the day's highs in post-settlement trading on Tuesday after industry data showed a surprise large drawdown in domestic crude inventories last week.

A Reuters poll ahead of the data forecast that domestic crude oil stocks rose 1.8 million barrels last week due to higher imports.

The API said crude stocks fell by 3.5 million barrels, gasoline stocks dipped 255,000 barrels and distillate stocks dropped by 671,000 barrels in the week to Oct. 23.

On the New York Mercantile Exchange at 5:05 p.m. EDT (2105 GMT), December crude was up 85 cents at $79.53 a barrel, with the day's high extended to $79.89. It earlier settled up up 87 cents, or 1.11 percent, at $79.55, trading from $77.81 to $79.78.

CBOT-SOYBEANS - November down 13 cents at $9.73-1/2 a bushel. Firm dollar and forecasts for improved harvest weather next week weigh on market after higher open. Traders note active sales of $10 January soy call options also pressure prices.

CBOT-SOYOIL - December down 0.15 cent at 37.48. Weakness in soybean futures drag prices lower despite firm crude oil market.

FCPO-KUALA LUMPUR, Oct 27 (Reuters) - Malaysian crude palm oil futures dropped 3 percent on Tuesday to hit more than one-week lows on weaker vegetable oil markets and fears of a stock build up.

The benchmark January contract palm oil on the Bursa Malaysia Derivatives Exchange fell as much as 66 ringgit to 2,152 ringgit ($632.9), a level unseen since Oct. 16. The contract then settled 48 ringgit lower at 2,170 ringgit.

REGIONAL EQUITIES-BANGKOK, Oct 27 (Reuters) - Most Southeast Asian stock markets fell on Tuesday amid concern over the economic outlook in the United States, with Singapore's CapitaLand and Thailand's PTT Exploration and Production among decliners.

Foreign fund flows into the region were easing, pushing Malaysia <.KLSE> down to near-two-week lows at one stage. Indonesia <.JKSE> touched four-week lows and Vietnam <.VNI> hit its lowest level in two weeks.

Malaysia's index <.KLSE> recovered earlier falls to end flat, with a 1.3 percent gain in financial firm CIMB Group . Palm plantation firm IOI Corp rose 1.1 percent and telecom company Axiata Group gained 1 percent.

Thailand <.SETI> ended up 0.4 percent but foreign investors continued to unload Thai equities, selling a net 747 million baht($22.37 million) in the session.

USD/MYR Daily Chart: Technical pulled back

Market looks had found some cushion at 3.3425 after the recent sharp fall. Thus, a technical pulled back may see and upside projection is looking at 3.4140 followed by 3.4300. To the downside, support is pegged at 3.3650-3.3500 followed by 3.3425.

FCPO Daily: Losing ground

Market is losing ground further following prices fully covered the downside gap at 2187-2175. Thus, consolidation is likely to continue in near term. Currently, we are looking for the immediate upside resistance at 2200-2205 followed by 2235-2250. While, downside support is adjusted to 2108-2085 (unfilled gap left over since 12/10/2009).

Breaking News-RTRS-China Nov soy imports seen low at 2.34 mln T-MOFCOM

BEIJING, Oct 26 (Reuters) - China's Commerce Ministry
estimated the country's soy imports in November will stay at
about the same low level as in October or at 2.34 million
tonnes.
The ministry's initial figures were in line with traders
estimates after persistent rains in the United States delayed
the harvest as well as loading of cargoes expected to arrive in
China in late November.

Trader's Highlight

DJI-NEW YORK, Oct 26 (Reuters) - U.S. stocks fell for a second straight session on Monday as investors ditched home builders and financials on fears lawmakers may let a federal home buyer tax credit expire, while commodity shares succumbed to pressure from the higher U.S. dollar.

Trading was choppy. Stocks initially started on firmer footing, with indexes up more than 1 percent shortly after the open, but the bounce quickly faded as the U.S. dollar rebounded and investors fretted about the financial sector's prospects.

The Dow Jones industrial average <.DJI> dropped 104.22 points, or 1.05 percent, to 9,867.96. The Standard & Poor's 500 Index <.SPX> shed 12.65 points, or 1.17 percent, to 1,066.95. The Nasdaq Composite Index <.IXIC> fell 12.62 points, or 0.59 percent, to 2,141.85.

NYMEX-NEW YORK, Oct 26 (Reuters) - U.S. crude oil futures ended more than 2 percent lower on Monday as the dollar regained strength after an early fall, prompting investors to sell a broad line of oil and other commodities.

On the New York Mercantile Exchange, December crude settled down $1.82, or 2.26 percent, at $78.68 a barrel, trading from $77.97 to $81.58.

CBOT-SOYBEANS - November down 19-1/2 cents at $9.86-1/2 a bushel; active deferreds down 15-1/2 to 18-3/4.

Profit-taking after last week's rally tied to the falling dollar and harvest delays. Firmer dollar and outlooks for improving harvest weather next week weigh. Talk of China deferring three to four shipments of U.S. soybeans also pressures market.

CBOT-SOYOIL - December down 0.31 cent at 37.63 cents per lb; active deferreds down 0.30 to 0.31. Spillover selling from soybeans, crude oil.

FCPO-KUALA LUMPUR, Oct 26 (Reuters) - Malaysian crude palm oil futures fell 0.9 percent on Monday, retreating from more than 7-week highs hit last week, on fears of growing stockpiles although a surge in palm oil exports curbed further losses.

The benchmark January contract on the Bursa Malaysia Derivatives Exchange settled down 20 ringgit to 2,218 ringgit ($656.6) per tonne. On Friday the market ended up 2,243 ringgit, a level unseen since Sept. 3.

REGIONAL EQUITIES-BANGKOK, Oct 26 (Reuters) - Southeast Asian stock markets
ended mixed on Monday, with financial shares in Singapore and Malaysia such as DBS and CIMB erasing early gains and blue chips elsewhere coming off their highs.

Most markets in the region had a listless session and lower trading volume, with Singapore <.FTSTI> eking out a 0.05 percent gain, Malaysia <.KLSE> falling 0.6 percent, Indonesia <.JKSE> flat and Thailand <.SETI> 0.3 percent higher. Financial shares in the city-state and Kuala Lumpur ended in
negative territory ahead of results later in the month.

FCPO Daily: Into consolidation mode

Market upward strength was not strong enough after tested the recent high at 2250. It then eased off to cover the immediate downside gap at 2227-2224. Thus, market looks may consolidate in near term. As for now, we are looking for the upside resistance at 2250. While, downside support is pegged at 2187-2175 (gap left over on 22/10/2009) followed by 2108-2085 (unfilled gap left over since 12/10/2009).

CBOT Soyoil Daily: Double top formation

A double top formation following prices failed to break through the tough resistance at USD39.18 coupled with a long upper shadow candle has weighed on the market upward move. Thus, market may move into correction phase in near term. As for now, we look for the immediate downside support at USD37.00.

NYMEX Crude Daily: Healthy correction is taking place

A healthy correction looks may take place following prices show a little tiredness mode after few attempts failed to challenge the overhead resistance at USD85.00. As for now, we are looking for the immediate upside resistance at USD82.00 followed by USD85.00. To the downside, support remains at USD75.00-USD73.00

DJI Daily: Bulls hit the pause button

Bulls hit the pause button following prices facing a tough resistance at 10,000 levels. Market looks may enter into correction zone in near term after the recent rally. Upside resistance is stood at 10,000-10,300 levels. While, downside support is pegged at 9,600-9,400 levels.

FKLI Daily: Bulls took a breathe

Bulls took a little breathe after hit the recent high at 1273.5. Overall immediate technical outlook still maintain firm uptrend. Thus, market looks may consolidate in order for a sustainable rally in near term. Thus, we continue to look for the upside projection at 1273.5 followed by 1280-1300. Downside support is adjusted to 1250 followed by 1230.

Breaking News-RTRS-UPDATE 1-Indonesia to keep Nov palm oil export tax at zero

JAKARTA, Oct 23 (Reuters) - Indonesia will keep its palm oil export tax at zero for the fourth consecutive month in November but will cut the crude palm oil (CPO) base export price to $595 a tonne from $617 in October due to price falls, a trade ministry official said on Friday.

Breaking News-RTRS-Chinese soy buyers finish purchases for 2009 -CNGOIC

BEIJING, Oct 23 (Reuters) - Chinese crushers have mostly
completed soybean purchases from the United States for the rest
of the year, and are actively buying United States and South
American cargoes for shipment next year, according to an official
survey.
China has already bought up to 15 million tonnes of soybeans
from the United States, the world's largest exporter and 5
million tonnes from South America, said the National Grain and
Oils Information Centre (CNGOIC).

Trader's Highlight

DJI-NEW YORK, Oct 23 (Reuters) - U.S. stocks fell on Friday, with the major indexes slipping for the first week in three, as industrial companies' weak results overshadowed robust earnings from tech and retail heavy-weights.

The U.S. dollar rose against the pound after data showed the UK posted its sixth straight quarter of contraction in gross domestic product, the longest stretch on record, and better-than-expected U.S. housing data gave the greenback an extra boost.

The Dow Jones industrial average <.DJI> dropped 109.13 points, or 1.08 percent, to 9,972.18, marking its second finish this week below the 10,000 mark. The Standard & Poor's 500 Index <.SPX> dropped 13.31 points, or 1.22 percent, to 1,079.60. The Nasdaq Composite Index <.IXIC> dropped 10.82 points, or 0.50 percent, to 2,154.47.

NYMEX-NEW YORK, Oct 23 (Reuters) - U.S. crude oil futures ended down for a second day in a row on Friday as worries about the pace of economic recovery and weak oil demand amid bulging stockpiles pressured the market, after prices jumped to a 2009
high this week.

On the New York Mercantile Exchange, December crude settled down 69 cents, or 0.85 percent, at $80.50 a barrel, trading from $79.82 to $81.78. For the week, the
contract is up $1.97, or 2.51 percent.

CBOT-SOYBEANS - November up 1/2 cent at $10.06 a bushel. Ends firm but well below early highs amid a bout of profit-taking after notching 1-1/2 month high at $10.28 on firm U.S. CIF Gulf basis levels as rains limit movement into terminals. Concerns mount about crop losses given rains, which are forecast for the next two weeks.

CBOT-SOYOIL - December down 0.36 cent at 37.94 cents a lb. Slips amid meal/oil spreading, weaker crude oil.

FCPO-JAKARTA, Oct 23 (Reuters) - Malaysian crude palm oil futures rose 1.3 percent to their highest closing in more than seven weeks on Friday, underpinned by strength in rival soybean and crude oil prices, traders said.

The benchmark January contract on the Bursa Malaysia Derivative Exchange settled up 28 ringgit at 2,238 ringgit ($662.13) a tonne, a level not seen since September 2. Overall volume was 16,202 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, Oct 22 (Reuters) - Stock markets in Thailand and
Indonesia fell for a third day on Thursday, with financials and big caps such as Siam Commercial Bank, Advanced Info Service, Bank Rakyat and Astra International leading the way down.

Singapore's index <.FTSTI> fell 0.4 percent, Malaysia's index <.KLSE> was flat and the Philippines <.PSI> lost 1.1 percent. Vietnam bucked the trend, rising 0.9 percent.

In Kuala Lumpur, Malaysian Airline gained nearly 1 percent to 3.08 ringgit after Ambank upgraded the airline to "buy" and raised fair value for the stock to 3.90 ringgit

FCPO Weekly: Sideways bias to little upside potential

Market improved a little following prices close firm at 2200 levels after tested the weekly high at 2250. Thus, market may continue move in sideways bias to little upside potential in near term. As for now, we are looking for the upside resistance at 2350. While, downside support is maintain at 2108-2100 (unfilled gap left over since 11/10/2009)

CBOT Soyoil Weekly: May challenge overhead resistance at USD40.00 to USD40.77

We continue to look for the overhead resistance at USD40.00 to 40.77. Violation of it may provide more room to bias upside potential in near term. As now, downside support remains at USD37.00.

NYMEX Crude Weekly: Uptrend remains firm

Uptrend is firm and market looks may want to challenge the next upside resistance at USD85.00 in near term. To the downside, support remains at USD75.00

DJI Weekly: Show a little tiredness

Market shows a little tiredness mode after the recent run up to challenge 10,000 resistance mark. However, we maintain positive towards the near term market with upside resistance is stood at 10,300 levels. While, downside support remains at 9,400 levels.

FKLI Weekly: Likely to march higher

Market maintain well its upward posture following prices tested the weekly high at 1273.5. Market looks may march higher in near term with upside is projected at 1280-1300 followed by 1314.5-1348 (gap left over since 9/3/2008). Downside support is adjusted to 1230.