CHICAGO, Dec 18 (Reuters) - Analytical firm Informa Economics expects an 3.7 percent increase in U.S. corn plantings in 2010, while soybean seedings should drop by 0.7 percent, trade sources said Friday.
Informa estimated 2010 U.S. corn acreage at 89.504 million and soybeans at 76.993 million, traders said.
In 2009, U.S. farmers planted 86.4 million acres of corn and 77.5 million acres of soybeans, the U.S. Department of Agriculture has said.
Monday, December 21, 2009
Trader's Highlight
DJI-NEW YORK, Dec 18 (Reuters) - U.S. stocks rose on Friday in choppy trade as quarterly results from Oracle and Research In Motion lifted the Nasdaq more than 1 percent, but the U.S. dollar's climb curbed gains in both the Dow and the S&P 500.
The Dow Jones industrial average <.DJI> added 20.63 points, or 0.20 percent, to 10,328.89. The Standard & Poor's 500 Index <.SPX> gained 6.39 points, or 0.58 percent, to 1,102.47. The Nasdaq Composite Index <.IXIC> climbed 31.64 points, or 1.45 percent, to 2,211.69.
NYMEX-NEW YORK, Dec 18 (Reuters) - U.S. crude futures rose nearly 1 percent in choppy pre-holiday trade on Friday, on short covering ahead of the January contract expiration on Monday.
A dispute between Iran and Iraq and cold weather across the U.S. and Europe helped support prices.
On the New York Mercantile Exchange January crude rose 71 cents, or 0.98 percent, to settle at $73.36, trading from $72.55 to $74.69.
CBOT-SOYBEANS - January down 10 cents per bushel at $10.12. Firm dollar lends pressure, with additional weight from good soy crop weather in South America.
CBOT-SOYOIL - January down 0.31 cent per lb at 38.33 cents per lb. Spillover pressure from lower soy and firm dollar; fading gains in crude oil add pressure.
FCPO-JAKARTA, Dec 17 (Reuters) - Malaysian crude palm oil futures jumped 1.3 percent on Thursday to the highest closing level in six and a half months as investors continued to bet on good demand and prospects of tight supply, traders said.
The benchmark March contract on the Bursa Malaysia Derivatives Exchange settled up 34 ringgit at 2,620 ringgit ($762.74) per tonne, the highest closing level since June 1.
Overall volume shot up to 22,564 lots of 25 tonnes each, more than double the usual 10,000 lots.
REGIONAL EQUITIES-BANGKOK, Dec 18 (Reuters) - Southeast Asian stock markets
mostly edged down on Friday in thin turnover, with concerns about the earnings outlook at top U.S. financial firms fuelling selling in banks such as Singapore's DBS Group and Thailand's Bangkok Bank.
Singapore's benchmark stock index <.FTSTI> fell 0.38 percent, after rising to its highest in more than a year the previous day, and Thailand's main index <.SETI> ended flat, after dropping as much as 0.64 percent.
The Philippine stock market <.PSI> closed down 1.02 percent, having hit a one-week low in early trade, but Vietnam <.VNI> rose 1.95 percent, a day after falling to a near-five-month low. Stock markets in Malaysia <.KLSE> and Indonesia <.JKSE> were
closed for holidays.
The Dow Jones industrial average <.DJI> added 20.63 points, or 0.20 percent, to 10,328.89. The Standard & Poor's 500 Index <.SPX> gained 6.39 points, or 0.58 percent, to 1,102.47. The Nasdaq Composite Index <.IXIC> climbed 31.64 points, or 1.45 percent, to 2,211.69.
NYMEX-NEW YORK, Dec 18 (Reuters) - U.S. crude futures rose nearly 1 percent in choppy pre-holiday trade on Friday, on short covering ahead of the January contract expiration on Monday.
A dispute between Iran and Iraq and cold weather across the U.S. and Europe helped support prices.
On the New York Mercantile Exchange January crude
CBOT-SOYBEANS - January
CBOT-SOYOIL - January
FCPO-JAKARTA, Dec 17 (Reuters) - Malaysian crude palm oil futures jumped 1.3 percent on Thursday to the highest closing level in six and a half months as investors continued to bet on good demand and prospects of tight supply, traders said.
The benchmark March contract
Overall volume shot up to 22,564 lots of 25 tonnes each, more than double the usual 10,000 lots.
REGIONAL EQUITIES-BANGKOK, Dec 18 (Reuters) - Southeast Asian stock markets
mostly edged down on Friday in thin turnover, with concerns about the earnings outlook at top U.S. financial firms fuelling selling in banks such as Singapore's DBS Group and Thailand's Bangkok Bank.
Singapore's benchmark stock index <.FTSTI> fell 0.38 percent, after rising to its highest in more than a year the previous day, and Thailand's main index <.SETI> ended flat, after dropping as much as 0.64 percent.
The Philippine stock market <.PSI> closed down 1.02 percent, having hit a one-week low in early trade, but Vietnam <.VNI> rose 1.95 percent, a day after falling to a near-five-month low. Stock markets in Malaysia <.KLSE> and Indonesia <.JKSE> were
closed for holidays.
CBOT soyoil Weekly: Consolidation
Market maintain in consolidation mode. Thus, we continue to look of the upside resistance at USc41.40 and downside support is lies at USc37.50-36.50.
NYMEX Crude Weekly: Market momentum remains weak
Market momentum remains weak despite prices close at above the physiological support at USD70.00. Thus, market likely to extend its sideways to lower in near term. As for now, we continue to look for the upside resistance at USD82.00. While, underline support remains pegged at USD65.00.
FCPO Weekly: More room to bias upside potential
Market violated the recent high at 2606 levels and close off the weekly high had beautified the immediate technical outlook to bias upside potential. Hence, we maintain our view to move higher in near term with upside resistance looking at 2650 followed by 2800 levels. While, downside support remains at 2450-2420 followed by 2428-2419 (left over gap on 29/11/2009).
FKLI Weekly: Remains in sideways
Nothing much changes on the immediate weekly technical landscape as market still stuck in between 1250 to 1286 levels. Violation of either way may give us a clearer direction.
Thursday, December 17, 2009
Trader's Highlights
DJI - NEW YORK, Dec 16 - U.S stocks finished flat to slightly higher on Wednesday after the Federal Reserve reiterated its intention to keep interest rates low for the foreseeable future to ensure a sustainable economic recovery.
Wall Street trimmed gains after the Fed voted unanimously to keep benchmark borrowing costs in a range of zero to 0.25 percent, which represents historic lows.
The Dow Jones industrial average slipped 10.88 points, or 0.10 percent, to end at 10,441.12. But the Standard & Poor's 500 Index gained 1.25 points, or 0.11 percent,
to 1,109.18. The Nasdaq Composite Index added 5.86 points, or 0.27 percent, to 2,206.91.
NYMEX - NEW YORK, Dec 16 - U.S. crude futures rose sharply on Wednesday after the government's oil inventory report showed crude oil and distillate supplies fell much more than expected last week.
On the New York Mercantile Exchange, January crude rose $1.97, or 2.79 percent, to settle at $72.66 a barrel, trading from $70.59 to $73.55.
CBOT - SOYBEANS - January up 4-1/2 cents at $10.59-1/2 a bushel.
Support from news China bought more U.S. soy, gains in crude oil and reluctance to be short soy ahead of expected fund buying early in 2010. But ended below day's high as market gave up most of its early gains amid technical selling after prices failed to top Tuesday's high.
CBOT - SOYOIL - January up 0.69 cent at 40.33 cents per lb.
Rally in crude oil futures lends support.
FCPO - JAKARTA, Dec 16 - Malaysian crude palm oil futures surged 2.3 percent to their highest closing level in six and a half months on Wednesday supported by a crude oil price rebound and fresh buying in the physical market, traders said.
"After crude oil moved above $71, people get excited again. We also heard that a big buyer has been chasing olein again since the morning," said a trader at a Kuala Lumpur-based brokerage firm.
The benchmark March contract on the Bursa Malaysia Derivatives Exchange settled up 57 ringgit to 2,587 ringgit ($755.77) per tonne, the highest finishing since June 2.
REGIONAL EQUITIES - BANGKOK, Dec 16 - Stock markets in Singapore, Indonesia and Thailand gained on Wednesday as investors piled into big caps late in the session, with Singapore's Genting, Thailand's CP Foods and Indonesia's Telekomunikasi among risers.
Most Southeast Asian stock markets were range-bound earlier as markets elsewhere in Asia slid on profit-taking in thin trading volume.
Singapore's index rose 0.5 percent to 2,813.93, with gaming group Genting Singapore climbing 5.5 percent, DBS Group Holdings adding 1 percent and Singapore Airlines jumping 3.5 percent.
Thailand's key stock index was up 0.9 percent, earlier climbing to its highest since Nov. 12, led by a 2.6 percent gain in energy firm PTT Exploration and Production and a 5.6 percent rise in chicken firm CP Foods.
Malaysia's index dipped 0.14 percent after a combined gain of over 1 percent in the previous four sessions. Trade in Kuala Lumpur was thin ahead of a holiday on Friday, dealers said.
Wall Street trimmed gains after the Fed voted unanimously to keep benchmark borrowing costs in a range of zero to 0.25 percent, which represents historic lows.
The Dow Jones industrial average slipped 10.88 points, or 0.10 percent, to end at 10,441.12. But the Standard & Poor's 500 Index gained 1.25 points, or 0.11 percent,
to 1,109.18. The Nasdaq Composite Index added 5.86 points, or 0.27 percent, to 2,206.91.
NYMEX - NEW YORK, Dec 16 - U.S. crude futures rose sharply on Wednesday after the government's oil inventory report showed crude oil and distillate supplies fell much more than expected last week.
On the New York Mercantile Exchange, January crude rose $1.97, or 2.79 percent, to settle at $72.66 a barrel, trading from $70.59 to $73.55.
CBOT - SOYBEANS - January up 4-1/2 cents at $10.59-1/2 a bushel.
Support from news China bought more U.S. soy, gains in crude oil and reluctance to be short soy ahead of expected fund buying early in 2010. But ended below day's high as market gave up most of its early gains amid technical selling after prices failed to top Tuesday's high.
CBOT - SOYOIL - January up 0.69 cent at 40.33 cents per lb.
Rally in crude oil futures lends support.
FCPO - JAKARTA, Dec 16 - Malaysian crude palm oil futures surged 2.3 percent to their highest closing level in six and a half months on Wednesday supported by a crude oil price rebound and fresh buying in the physical market, traders said.
"After crude oil moved above $71, people get excited again. We also heard that a big buyer has been chasing olein again since the morning," said a trader at a Kuala Lumpur-based brokerage firm.
The benchmark March contract on the Bursa Malaysia Derivatives Exchange settled up 57 ringgit to 2,587 ringgit ($755.77) per tonne, the highest finishing since June 2.
REGIONAL EQUITIES - BANGKOK, Dec 16 - Stock markets in Singapore, Indonesia and Thailand gained on Wednesday as investors piled into big caps late in the session, with Singapore's Genting, Thailand's CP Foods and Indonesia's Telekomunikasi among risers.
Most Southeast Asian stock markets were range-bound earlier as markets elsewhere in Asia slid on profit-taking in thin trading volume.
Singapore's index rose 0.5 percent to 2,813.93, with gaming group Genting Singapore climbing 5.5 percent, DBS Group Holdings adding 1 percent and Singapore Airlines jumping 3.5 percent.
Thailand's key stock index was up 0.9 percent, earlier climbing to its highest since Nov. 12, led by a 2.6 percent gain in energy firm PTT Exploration and Production and a 5.6 percent rise in chicken firm CP Foods.
Malaysia's index dipped 0.14 percent after a combined gain of over 1 percent in the previous four sessions. Trade in Kuala Lumpur was thin ahead of a holiday on Friday, dealers said.
Wednesday, December 16, 2009
Trader's Highlights
DJI - NEW YORK, Dec 15 - Higher-than-expected November U.S. inflation fueled demand for the dollar on Tuesday. but weighed on stocks and bonds as investors feared the Federal Reserve may need to raise rates faster than anticipated.
Oil futures prices rose almost 2 percent to settle above $70 a barrel following nine sessions of losses, offering some support to energy stocks. But Wall Street extended losses in late afternoon after bellwether General Electric Co issued a flat outlook for 2010.
Fears that the Fed could end its two-day meeting on Wednesday with a more hawkish view on interest rates surfaced after data showed the U.S. Producer Price Index jumped a surprising 1.8 percent last month, much more than the 0.8 percent forecast by economists.
The Dow Jones industrial average slid 49.05 points, or 0.47 percent, to close at 10,452.00, while the Standard & Poor's 500 Index declined 6.18 points, or 0.55 percent, to finish at 1,107.93. The Nasdaq Composite Index fell 11.05 points, or 0.50 percent, to end at 2,201.05.
NYMEX - NEW YORK, Dec 15 - U.S. crude oil futures added to gains after settlement on Tuesday, even though industry data showing a rise in crude oil stockpiles when the market had expected a decline.
Crude futures settled higher on Tuesday, ending a string of nine straight losing sessions as the market awaited weekly oil inventory reports expected to show crude stockpiles fell last week.
On the New York Mercantile Exchange, January crude rose $1.18, or 1.7 percent, to settle at $70.69 a barrel, trading from $69.31 to $71.15. It ended Globex electronic
trading after the API report up $1.31 at $70.82 a barrel.
CBOT - SOYBEANS - January unchanged at $10.55 a bushel.
Market gave up gains late following rally to two-week high as traders locked in profits. Good crop weather in South America weighed on prices in thin trade.
CBOT - SOYOIL - January up 0.01 cent at 39.64 cents per lb.
Firm crude oil supports prices but market closes off highs as soybeans give up gains.
FCPO - JAKARTA, Dec 15 - Malaysian crude palm oil futures edged up 0.5 percent on Tuesday on speculative buying but volume was thin as most investors were reluctant to take positions given a lack of fresh leads ahead of year-end holidays, traders said.
The benchmark February contract on the Bursa Malaysia Derivatives Exchange settled up 12 ringgit at 2,525 ringgit ($740.04). Overall volume was 8,251 lots of 25 tonnes each, less than the usual 10,000 lots.
REGIONAL EQUITIES - BANGKOK, Dec 15 - Southeast Asian stocks ended mostly flat on Tuesday in thin trading with Malaysia edging to a one-week high on gains in financials such as Maybank, while foreign-led selling buffetted Thailand.
Caution ruled ahead of a policy-setting meeting of the U.S. Federal Reserve beginning later on Tuesday that could provide guidance on the timing of an expected rate hike and the outlook for the dollar.
Malaysia's index rose 0.4 percent to 1,270.81, its highest since Dec. 7, with Malayan Banking up 1.9 percent, financial CIMB Group 0.8 percent higher and shipper MISC climbing 1.3 percent.
Thailand ended flat after hitting its highest since Nov. 11 earlier in the day.
Elsewhere, Singapore pared early gains to end nearly flat, with top developer CapitaLand falling 1.4 percent and top lender DBS Group Holdings shedding 0.14 percent.
Oil futures prices rose almost 2 percent to settle above $70 a barrel following nine sessions of losses, offering some support to energy stocks. But Wall Street extended losses in late afternoon after bellwether General Electric Co issued a flat outlook for 2010.
Fears that the Fed could end its two-day meeting on Wednesday with a more hawkish view on interest rates surfaced after data showed the U.S. Producer Price Index jumped a surprising 1.8 percent last month, much more than the 0.8 percent forecast by economists.
The Dow Jones industrial average slid 49.05 points, or 0.47 percent, to close at 10,452.00, while the Standard & Poor's 500 Index declined 6.18 points, or 0.55 percent, to finish at 1,107.93. The Nasdaq Composite Index fell 11.05 points, or 0.50 percent, to end at 2,201.05.
NYMEX - NEW YORK, Dec 15 - U.S. crude oil futures added to gains after settlement on Tuesday, even though industry data showing a rise in crude oil stockpiles when the market had expected a decline.
Crude futures settled higher on Tuesday, ending a string of nine straight losing sessions as the market awaited weekly oil inventory reports expected to show crude stockpiles fell last week.
On the New York Mercantile Exchange, January crude rose $1.18, or 1.7 percent, to settle at $70.69 a barrel, trading from $69.31 to $71.15. It ended Globex electronic
trading after the API report up $1.31 at $70.82 a barrel.
CBOT - SOYBEANS - January unchanged at $10.55 a bushel.
Market gave up gains late following rally to two-week high as traders locked in profits. Good crop weather in South America weighed on prices in thin trade.
CBOT - SOYOIL - January up 0.01 cent at 39.64 cents per lb.
Firm crude oil supports prices but market closes off highs as soybeans give up gains.
FCPO - JAKARTA, Dec 15 - Malaysian crude palm oil futures edged up 0.5 percent on Tuesday on speculative buying but volume was thin as most investors were reluctant to take positions given a lack of fresh leads ahead of year-end holidays, traders said.
The benchmark February contract on the Bursa Malaysia Derivatives Exchange settled up 12 ringgit at 2,525 ringgit ($740.04). Overall volume was 8,251 lots of 25 tonnes each, less than the usual 10,000 lots.
REGIONAL EQUITIES - BANGKOK, Dec 15 - Southeast Asian stocks ended mostly flat on Tuesday in thin trading with Malaysia edging to a one-week high on gains in financials such as Maybank, while foreign-led selling buffetted Thailand.
Caution ruled ahead of a policy-setting meeting of the U.S. Federal Reserve beginning later on Tuesday that could provide guidance on the timing of an expected rate hike and the outlook for the dollar.
Malaysia's index rose 0.4 percent to 1,270.81, its highest since Dec. 7, with Malayan Banking up 1.9 percent, financial CIMB Group 0.8 percent higher and shipper MISC climbing 1.3 percent.
Thailand ended flat after hitting its highest since Nov. 11 earlier in the day.
Elsewhere, Singapore pared early gains to end nearly flat, with top developer CapitaLand falling 1.4 percent and top lender DBS Group Holdings shedding 0.14 percent.
Tuesday, December 15, 2009
Breaking News-RTRS-Malaysia, Bangladesh mull bilateral palm oil pact
KUALA LUMPUR, Dec 14 (Reuters) - Bangladesh wants to buy palm oil from Malaysia via its state trading arm to ensure sufficient supply and price stability for the edible oil, said a Malaysian minister.
"Bangladesh is interested to have a government-to-government buying arrangement to ensure there is steady supply and price of palm oil is maintained in the local market," Malaysia's Plantation Industries and Commodities Minister Bernad Dompok was quoted by state news agency Bernama as saying.
Such an arrangement will boost Malaysia's palm oil export given Bangladesh's low per capita consumption of palm oil, said Dompok.
"Bangladesh is interested to have a government-to-government buying arrangement to ensure there is steady supply and price of palm oil is maintained in the local market," Malaysia's Plantation Industries and Commodities Minister Bernad Dompok was quoted by state news agency Bernama as saying.
Such an arrangement will boost Malaysia's palm oil export given Bangladesh's low per capita consumption of palm oil, said Dompok.
Trader's Highlight
DJI-NEW YORK, Dec 14 (Reuters) - U.S. stocks closed at 14-month highs on Monday as Abu Dhabi's $10 billion in aid to help Dubai avoid default eased concerns and a takeover deal by Exxon Mobil Corp raised optimism about mergers and acquisitions activity.
Citigroup Inc's plan to repay the U.S. government about $20 billion in bailout funds also helped buttress the buoyant mood a week after Bank of America fully repaid its $45 billion government loan.
The Dow Jones industrial average <.DJI> gained 29.55 points, or 0.28 percent, to end at 10,501.05. The Standard & Poor's 500 Index <.SPX> rose 7.70 points, or 0.70 percent, to 1,114.11. The Nasdaq Composite Index <.IXIC> climbed 21.79 points, or 0.99 percent, to close at 2,212.10.
NYMEX-NEW YORK, Dec 14 (Reuters) - U.S. crude futures slipped on Monday, settling lower for a ninth consecutive session after seesawing as concerns about healthy inventories and tepid demand offset a weak dollar and advancing equities.
On the New York Mercantile Exchange, January crude fell 36 cents, or 0.52 percent, to settle at $69.51 a barrel, lowest settlement since crude ended at $66.71 on Sept. 29.
CBOT-SOYBEANS - January up 20 cents at $10.55 per bushel. Surged into buy stops on weakening dollar and expectations of index fund buying in agricultural commodities in the new year. Bullish NOPA crush number adds support.
National Oilseed Processor Association reports U.S. November soybean crush at record large 160.259 million bushels, above range of trade estimates.
CBOT-SOYOIL - December expired up 0.18 cent at 39.40 cents per lb, January up 0.06 at 39.63 cents. Buoyed by rally in soybeans, which overshadows news China may release soybeans from reserves.
NOPA reports U.S. November soyoil stocks at 2.411 billion lbs, up from 2.286 billion in October.
FCPO-JAKARTA, Dec 14 (Reuters) - Malaysian crude palm oil futures fell 0.7 percent on Monday, after short-covering narrowed a loss of as much as 2 percent due to a drop in crude oil prices and talk of lower exports for the first half of December, traders said.
The benchmark February contract on the Bursa Malaysia Derivatives Exchange settled down 17 ringgit at 2,513 ringgit ($737.60), after going as low as 2,488 ringgit in early trade. Overall volume was 11,673 lots of 25 tonnes each.
REGIONAL EQUITIES-BANGKOK, Dec 14 (Reuters) - Thailand's benchmark stock index
<.SETI> ended at a two-week closing high on Monday, helped by strong buying interest from local institutions, while Malaysia's index <.KLSE> rose to its highest in nearly a week.
Most other Southeast Asian stocks were also in positive terrain for much of the day but volume fell. Singapore <.FTSTI> ended flat after early gains, while the Philippines <.PSI> rose for a third day and Vietnam <.VNI> rallied after a four-day loss.
In Kuala Lumpur, the main index <.KLSE> was up 0.4 percent at 1,265.45, its highest since Dec. 8, with financial CIMB Group and power utility Tenaga each rising about 1.3 percent.
Citigroup Inc's plan to repay the U.S. government about $20 billion in bailout funds also helped buttress the buoyant mood a week after Bank of America fully repaid its $45 billion government loan.
The Dow Jones industrial average <.DJI> gained 29.55 points, or 0.28 percent, to end at 10,501.05. The Standard & Poor's 500 Index <.SPX> rose 7.70 points, or 0.70 percent, to 1,114.11. The Nasdaq Composite Index <.IXIC> climbed 21.79 points, or 0.99 percent, to close at 2,212.10.
NYMEX-NEW YORK, Dec 14 (Reuters) - U.S. crude futures slipped on Monday, settling lower for a ninth consecutive session after seesawing as concerns about healthy inventories and tepid demand offset a weak dollar and advancing equities.
On the New York Mercantile Exchange, January crude
CBOT-SOYBEANS - January
National Oilseed Processor Association reports U.S. November soybean crush at record large 160.259 million bushels, above range of trade estimates.
CBOT-SOYOIL - December
NOPA reports U.S. November soyoil stocks at 2.411 billion lbs, up from 2.286 billion in October.
FCPO-JAKARTA, Dec 14 (Reuters) - Malaysian crude palm oil futures fell 0.7 percent on Monday, after short-covering narrowed a loss of as much as 2 percent due to a drop in crude oil prices and talk of lower exports for the first half of December, traders said.
The benchmark February contract
REGIONAL EQUITIES-BANGKOK, Dec 14 (Reuters) - Thailand's benchmark stock index
<.SETI> ended at a two-week closing high on Monday, helped by strong buying interest from local institutions, while Malaysia's index <.KLSE> rose to its highest in nearly a week.
Most other Southeast Asian stocks were also in positive terrain for much of the day but volume fell. Singapore <.FTSTI> ended flat after early gains, while the Philippines <.PSI> rose for a third day and Vietnam <.VNI> rallied after a four-day loss.
In Kuala Lumpur, the main index <.KLSE> was up 0.4 percent at 1,265.45, its highest since Dec. 8, with financial CIMB Group
FCPO Daily: Consolidation
Market was entering into consolidation zone as prices moving in sideways bias. Thus, we continue to look for the upside resistance at 2535-2540 followed by 2590-2606. Downside support is lies at 2480-2460 followed by 2428-2419 (gap left over on 23/11/2009).
FKLI Daily: Waiting for a significant breakout
Market defended well at the physiological support 1250 levels. A breakout of either the immediate upside resistance at 1275.5 or the downside support at 1250 may provide us a clearer direction in near term.
Monday, December 14, 2009
BMD Market Holiday
Dear All,
Please be informed that Bursa Malaysia Derivatives Berhad will be closed on the following days in conjunction with Awal Muharram, Christmas, and New Year:-
1. Friday, 18 December 2009 – Awal Muharram
2. Friday, 25 December 2009 – Christmas
3. Friday, 1 January 2010 – New Year
We wish all our Clients, Associates and Friends;
Merry Christmas & Happy New Year.
Great Year Ahead.
BURSA MALAYSIA HOLIDAY 2010
Please be informed that Bursa Malaysia Derivatives Berhad will be closed on the following days in conjunction with Awal Muharram, Christmas, and New Year:-
1. Friday, 18 December 2009 – Awal Muharram
2. Friday, 25 December 2009 – Christmas
3. Friday, 1 January 2010 – New Year
We wish all our Clients, Associates and Friends;
Merry Christmas & Happy New Year.
Great Year Ahead.
BURSA MALAYSIA HOLIDAY 2010
Breaking News-RTRS-RPT-Unilever cuts palm oil supplier ties after report
LONDON, Dec 11 (Reuters) - Consumer goods company Unilever , the world's largest user of palm oil, has suspended purchases of edible oil from Indonesian group Sinar Mas on concerns over rain forest destruction.
Unilever, which uses palm oil in such products as Dove soap, Ben & Jerry ice cream, and margarines like Stork, cancelled its annual 20 million pound ($32.6 million) contract with Sinar Mas after a critical report by environmental group Greenpeace.
Anglo-Dutch Unilever said on Friday it was suspending purchases from PT SMART, which is part of Sinar Mas, until the Indonesian group could give proof that none of its plantations was contributing to the destruction of rain forests.
Unilever, which uses palm oil in such products as Dove soap, Ben & Jerry ice cream, and margarines like Stork, cancelled its annual 20 million pound ($32.6 million) contract with Sinar Mas after a critical report by environmental group Greenpeace.
Anglo-Dutch Unilever said on Friday it was suspending purchases from PT SMART
Breaking News-RTRS-Europe oils-Palm prices seen steady before boost in 2010
AMSTERDAM, Dec 11 (Reuters) - Palm oil's upward potential may be limited in the near-term but rising demand, strength in other edible oil markets and increased speculation are seen driving prices up in early 2010, analysts said on Friday.
Prices of the tropical oil, used in products ranging from margarine to lipstick, have risen in recent months, boosted by a recovery in mineral oil prices, gains in soy oil prices and firm demand due partly to its relative discount to other oils.
Malaysian palm oil futures prices hit a six month high last week, but have pulled back in recent days on profit taking and broad weakness in commodities, with the market seen range-bound until the end of the year, traders said.
In the longer-term, prices could appreciate due to seasonally declining production and comparatively strong world demand, market experts said.
Prices of the tropical oil, used in products ranging from margarine to lipstick, have risen in recent months, boosted by a recovery in mineral oil prices, gains in soy oil prices and firm demand due partly to its relative discount to other oils.
Malaysian palm oil futures prices hit a six month high last week, but have pulled back in recent days on profit taking and broad weakness in commodities, with the market seen range-bound until the end of the year, traders said.
In the longer-term, prices could appreciate due to seasonally declining production and comparatively strong world demand, market experts said.
Trader's Highlight
DJI-NEW YORK, Dec 11 (Reuters) - The Dow and S&P 500 closed up for a third straight session on Friday after several solid consumer-related reports reinforced investors' confidence in a steady recovery by the economy.
The Dow Jones industrial average <.DJI> was up 65.67 points, or 0.63 percent, at 10,471.50. The Standard & Poor's 500 Index <.SPX> was up 4.06 points, or 0.37 percent, at 1,106.41. The Nasdaq Composite Index <.IXIC> was down 0.55 point, or 0.03 percent, at 2,190.31.
NYMEX-NEW YORK, Dec 11 (Reuters) - U.S. crude oil futures ended below $70 a barrel on Friday, hitting a two-month low and extending the market slump for the eighth straight day as a stronger dollar spurred selling.
On the New York Mercantile Exchange, January crude settled down 67 cents, or 0.95 percent, at $69.87 a barrel, the lowest since the $69.57 close on Oct. 7. It traded from $69.46, lowest since the Oct. 8 intraday low of $69.17, to $71.20.
CBOT-SOYBEANS - January up 8 cents at $10.35 per bushel. Spillover support from rally in corn, short-covering and supported by brisk exports of U.S. soy, especially to China.
CBOT-SOYOIL - December up 0.13 cent at 39.22 cents per lb; most-active January up 0.12 at 39.57.
FCPO-KUALA LUMPUR, Dec 11 (Reuters) - Malaysian crude palm oil futures rose 0.4 percent on Friday, supported by higher soyoil and an unexpected fall in stocks.
The benchmark February contract on the Bursa Malaysia Derivatives Exchange ended up 9 ringgit to 2,530 ringgit ($744.6).
REGIONAL Equity-BANGKOK, Dec 11 (Reuters) - Most Southeast Asian stock markets gained on Friday, with Thai stocks climbing to a one-week high on mainly local buying in recently depressed big caps such as PTT Exploration and Production and Advanced Info Service.
In Kuala Lumpur, the main index <.KLSE> inched up 0.01 percent, with Malayan Banking up 0.45 percent and Petronas Gas down 1 percent.
Singapore's index <.FTSTI> gained 0.7 percent, reversing a fall of nearly 1 percent in the previous two sessions, with the largest telecoms firm, Singapore Telecommunications, and top lender DBS Group each rising 1.3 percent.
The Dow Jones industrial average <.DJI> was up 65.67 points, or 0.63 percent, at 10,471.50. The Standard & Poor's 500 Index <.SPX> was up 4.06 points, or 0.37 percent, at 1,106.41. The Nasdaq Composite Index <.IXIC> was down 0.55 point, or 0.03 percent, at 2,190.31.
NYMEX-NEW YORK, Dec 11 (Reuters) - U.S. crude oil futures ended below $70 a barrel on Friday, hitting a two-month low and extending the market slump for the eighth straight day as a stronger dollar spurred selling.
On the New York Mercantile Exchange, January crude
CBOT-SOYBEANS - January
CBOT-SOYOIL - December
FCPO-KUALA LUMPUR, Dec 11 (Reuters) - Malaysian crude palm oil futures rose 0.4 percent on Friday, supported by higher soyoil and an unexpected fall in stocks.
The benchmark February contract
REGIONAL Equity-BANGKOK, Dec 11 (Reuters) - Most Southeast Asian stock markets gained on Friday, with Thai stocks climbing to a one-week high on mainly local buying in recently depressed big caps such as PTT Exploration and Production and Advanced Info Service.
In Kuala Lumpur, the main index <.KLSE> inched up 0.01 percent, with Malayan Banking
Singapore's index <.FTSTI> gained 0.7 percent, reversing a fall of nearly 1 percent in the previous two sessions, with the largest telecoms firm, Singapore Telecommunications
NYMEX Crude Weekly: Weaken further
Immediate technical landscape weaken further following market violated the physiological support at USD70.00. Thus, market likely to extend its sideways to lower in near term. As for now, we are looking for the upside resistance at USD82.00. While, underline support will be adjusted to USD65.00.
CBOT Soyoil Weekly: Enter into consolidation
Market looks enter into consolidation zone after hitting the high at Usc41.40.Thus, market may move sideways in near term with upside resistance is pegged at USc41.40. While,immediate downside support is lies at USc39.00 followed by 37.50
FCPO Weekly: Took a breathe
Market took a breathe after hitting high at 2606 levels. However, immediate technical landscape maintain in positive posture. Thus, market likely to continue to move higher in near term with upside resistance is now looking at 2650 followed by 2800 levels. While, downside support remains at 2428-2419 (left over gap on 29/11/2009).
FKLI Weekly: Tiredness
Market is showing tiredness mode despite prices struggle to survive at above 1250 physiological support levels. Thus, violation of it may provide more room to bias downside potential which next support is looking at 1230 followed by 1200 levels. While to the upside, resistance at 1286 followed by 1300.
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