Breaking News-RTRS-INTERVIEW-UPDATE 1-India may buy more soyoil as palm prices rise

KUALA LUMPUR, March 1 (Reuters) - India, the world's top vegetable oil buyer, may shift orders to soyoil from palm oil by 500,000 tonnes to meet higher middle-class demand if the price difference narrows further, the Sunvin group said on Monday.
India, which surpassed China in 2009 as the top buyer of vegetable oil, was expected to buy 9-9.5 million tonnes in 2009/10 on rapid economic growth and weak oilseed output. Palm oil was expected to account for 7.25 million tonnes and soyoil 1.2 million tonnes of imports.

Trader's Highlight

DJI-NEW YORK, March 1 (Reuters) - U.S. stocks rose for a second straight day on Monday, boosted by AIG's record-setting deal to sell a major Asian unit and on gains in semiconductor shares after SanDisk Corp raised its revenue forecast.

Hopes for an agreement to resolve nagging uncertainty surrounding debt-laden Greece also encouraged investors.

NYMEX-NEW YORK, March 1 (Reuters) - U.S. crude oil futures ended lower on Monday as mixed economic data and a stronger dollar versus the euro kept the energy markets under pressure. Crude oil futures seesawed near $80 a barrel early, before falling towards $78, after front-month crude rose more than 9 percent in February from its January close.

On the New York Mercantile Exchange, April crude settled down 96 cents, or 1.21 percent, at $78.70 a barrel, trading from $78.06 to $80.62, highest since hitting an intraday high of $80.67 on Jan. 13.

CBOT-CHICAGO, March 1 (Reuters) - Chicago Board of Trade grains and soy complex close on Monday.

CBOT-SOYBEANS - March up 1-1/2 cents at $9.52-1/2 per bushel, May up 1-1/2 at $9.62-1/2.
Choppy; ended firm on unwinding of corn/soy spreads but pressured off and on through the day as wheat and corn tumbled. Big South American soy harvest also hangs over the market.

CBOT-SOYOIL - March up 0.21 at 39.50 cents per lb; May up 0.20 at 39.90 cents.

FCPO-KUALA LUMPUR, March 1 (Reuters) - Malaysian crude palm oil futures rose as much as 1.7 percent on Monday to one-week highs, echoing a rise in crude oil and soy prices after a long weekend.

Traders said palm oil markets had last week priced in weak February export data released by cargo surveyors on Monday. Expectations of weak production for last month are also supporting the market.

REGIONAL EQUITIES-COLOMBO, March 1 (Reuters) - Southeast Asian stock markets
rallied on Monday, with Singapore and Malaysia leading rally, following better-than-expected earnings and on signs that Greece's debt crisis could be easing.

Singapore's index <.FTSTI> gained 0.8 percent to its highest close since Feb. 23, while Malaysia <.KLSE> rose 1 percent to a near five-week high.

In Kaula Lampur, market heavyweight plantation share Sime Derby gained 1.8 percent as analysts expected earnings to bounce back in the second half after a weaker-than-expected first-half performance.

FCPO Daily: Range trading

Market holding at 2600 levels in tight range trading. Thus, market may continue to move in range trading between 2660 to 2580 levels. A significant breakout either to the upside of 2660 or to the downside at 2580 levels may provide a more clearer direction to the market.

FKLI Daily: May want to challenge 1288 levels.

Market continue to inch higher and looks may want to challenge the recent high at 1288 levels in near term. Next resistance will be looking at 1295.5 to 1300.0 levels. To the downside, immediate support is pegged at 1270.0 followed by 1260.0 levels.

Breaking News-RTRS-US Senate talks of reviving biodiesel tax credit

WASHINGTON, Feb 25 (Reuters) - Revival of the $1 a gallon biodiesel tax credit would be part of a jobs and tax bill in the U.S. Senate, according to a draft that circulated on Capitol Hill on Thursday.
According to the draft, the $1 a gallon biodiesel tax credit, which expired at the end of 2009, would be extended through 2010.

Trader's Highlight

DJI-NEW YORK, Feb 26 (Reuters) - U.S. stocks rose on Friday, capping their best monthly advance since November as data showed the economy grew a tad better than expected in the fourth quarter.

On a day marked by light volume as Wall Street was buried in a snowstorm, the falling dollar also boosted the shares of exporters, who benefit from a weaker greenback.

NYMEX-NEW YORK, Feb 26 (Reuters) - U.S. crude oil futures ended nearly 2 percent higher on Friday, rebounding from sharp losses in the previous session, as the dollar's weakness and brighter U.S. economic data combined to attract buying.

Gasoline and heating oil futures also bounced back, amid volatile trading, as their front-month March contracts expired at the close, the last trading day of the month.

On the New York Mercantile Exchange, April crude settled up $1.49, or 1.91 percent, at $79.66 a barrel, trading from $77.82 to $80.05.

CBOT-CHICAGO, Feb 26 (Reuters) - Chicago Board of Trade grains and soy complex close on on Friday.

CBOT-SOYBEANS - March up 9-1/2 cents at $9.51 a bushel. Short-covering bounce after Thursday's fall to one-week lows. Weak dollar and higher crude oil prices add support.

CBOT-SOYOIL - March up 0.76 cent at 39.29 cents per lb. Following firm trend in soybeans and crude oil; weak dollar adding support.

FCPO-JAKARTA, Feb 25 (Reuters) - Malaysia's palm oil futures edged up 0.2 percent on Thursday in choppy trade as a rebound in crude oil prompted short-covering late in the day, traders said.

The market ignored reports of an drop in exports of between 8.9 percent and 10.2 percent in the first 25 days of February as estimated by cargo surveyors as they believed that it would not prevent a further reduction in palm oil stocks, which will be driven by lower output.

REGIONAL EQUITIES-BANGKOK, Feb 26 (Reuters) - Southeast Asian stock markets
rose on Friday, with Singapore eking out slim gains after industrial output data and Thailand gaining even as judges read their verdict in a case that may raise the political temperature.

Markets in the region were range-bound as weak U.S. jobless and manufacturing data drove fears the global economic recovery is on shaky ground, amid continuing worries about Greece's debt.

Singapore's index <.FTSTI> ended up 0.06 percent, reversing a 1.2 percent fall in the past two sessions as industrial output for January rose 39.4 percent from a year before.

Malaysia and Indonesia were closed for a market holiday on Friday. Thailand will be closed on Monday.

FCPO Weekly: More strength needed to maintain in positive posture

Market tested the weekly high at 2662 levels but shies away. Thus, more strength is still needed in order to maintain in the positive posture. Thus, we are now looking for the upside resistance at 2726. While, immediate downside support is still lies at 2542-2523 (gap left over on 14/2/2010) followed by 2400-2393.

FKLI Weekly: Sideways trading

Market remains in sideways mode despite prices tested the resistance at 1270 levels. As for now, we are looking of the upside resistance at 1295.5 while downside support is pegged at 1245-1240 levels.

Breaking News-RTRS-Unilever stops buying palm oil from Indonesian planter

KUALA LUMPUR, Feb 24 (Reuters) - Consumer goods giant Unilever has told dealers not to source palm oil from Indonesian planter Duta Palma on concerns over rainforest destruction, an Indonesian industry official said on Wednesday.
Unilever , the world's top palm oil buyer, blacklisted Duta Palma just two months after it halted a $33 million supply contract with Indonesia's largest producer, PT SMART

Trader's Highlight

DJI-NEW YORK, Feb 24 (Reuters) - Global stocks rose and the U.S. dollar fell on Wednesday after Federal Reserve Chairman Ben Bernanke reaffirmed his commitment to keep U.S. interest rates at exceptionally low levels for an extended period.

Oil rose to $80 a barrel as Bernanke's congressional testimony buoyed hopes that low rates, which have made stocks and commodities more attractive, will spur economic growth despite bearish U.S. crude oil inventory figures.

NYMEX-NEW YORK, Feb 24 (Reuters) - U.S. crude oil futures ended up more than 1 percent on Wednesday, rebounding from a sharp loss on Tuesday, with support coming from a weaker dollar and a drawdown in gasoline supplies.

Traders ignored a larger-than-expected crude stock build in a key weekly government inventory report. The dollar fell against the euro and yen after comments by U.S. Federal Reserve Chairman Ben Bernanke reaffirmed expectations that the central bank will keep its benchmark interest rate exceptionally low for some time.

On the New York Mercantile Exchange, April crude gained $1.14, or 1.45 percent, to settle at $80 a barrel, trading from $78.25 to $80.13. In post-settlement trading, it last traded up $1.48, or 1.88 percent, at $80.34, with the
day's high rising further to $80.45.

CBOT-CHICAGO, Feb 24 (Reuters) - Chicago Board of Trade grains and soy complex closing trends on Wednesday.

CBOT-SOYBEANS-March up 3 cents at $9.55-1/2 per bushel. Funds bought an estimated 1,000 to 2,000 lots.

CBOT-SOYOIL- March up 0.74 at 39.05 cents per lb. Funds bought an estimated 2,500 lots.

FCPO-JAKARTA, Feb 24 (Reuters) - Malaysia's palm oil futures fell 1.7 percent on Wednesday on market talk of a drop in exports for Feb. 1-25, with long liquidation adding to the pressure, traders said.

Cargo surveyors Intertek Testing Services and Societe General de Surveillance are due to unveil the Feb. 1-25 palm oil exports data on Thursday. Traders said there was talk in late trade that the ITS report may show a figure of 1.089 million tonnes, but earlier on, the rumoured figure was 1.03 million tonnes.

REGIONAL EQUITIES-COLOMBO, Feb 24 (Reuters) - Most major Southeast Asian stock
markets fell on Wednesday on worries over the global economic recovery after declines in U.S. consumer confidence and German business sentiment. Analysts said a testimony by Federal Reserve chief Ben Bernanke to Congress later on Wednesday also made investors cautious.

Singapore <.FTSTI> was down 0.7 percent, Indonesia <.JKSE> fell 0.2 percent and Thailand <.SETI> edged down 0.06 percent.

But Malaysia bucked the trend with a 0.3 percent gain to hit its highest since Jan. 27 after stronger-than-expected economic data.

FCPO Daily: May enter into correction mode

Market slow down its upside move following prices facing some resistance at 2648 levels. Thus, market may enter into correction mode with upside resistance remains looking at 2648 followed by 2667-2675 (gap left over on 7/1/2010). To the downside, support is lies at 2577 followed by 2542-2523 (gap left over on 8/1/2010).

FKLI Daily: Holding ground

Market continue to hold ground with 1260 provided a pretty good support. Market looks may continue to move sideways to higher in near term. To the upside, resistance is looking at 1288. Downside support is pegged at 1258.5-1253.5 levels (gap left over on 22/2/2010).

Breaking News-RTRS-Brazil's Feb soybean exports to surge - Oil World

HAMBURG, Feb 23 (Reuters) - Brazil's soybean exports are likely to rise strongly in February as the large 2010 harvest is marketed, but new crop sales by Argentina appear more restrained, Hamburg-based oilseeds analysts Oil World forecast on Tuesday.
Brazil may export 2.2-2.6 million tonnes of soybeans in February, up from only 100,000 tonnes in January and 700,000 tonnes in February 2009, it estimates.
Brazil's early 2010 soybean crop, now underway, is forecast by Oil World at 64-65 million tonnes, up from 57.4 million tonnes in 2009.

Trader's Highlight

DJI-NEW YORK, Feb 23 (Reuters) - U.S. stocks suffered their biggest one-day decline in nearly three weeks on Tuesday after a sharp drop in consumer confidence heightened worries over one of the most vulnerable areas of the economy.

Consumer confidence in February slumped to a 10-month low as the short-term outlook on jobs worsened. Results from retailers added little hope, as bellwethers like Target Corp forecast a tepid performance in the first quarter.

NYMEX-NEW YORK, Feb 23 (Reuters) - U.S. crude oil futures fell on Tuesday as weak consumer confidence data added to pressure provided by the dollar's strength on concerns about the euro zone economy. Crude's slip comes after five straight higher closes.

On the New York Mercantile Exchange at 10:27 a.m. EST (1527 GMT), April crude was down $1.73, or 2.15 percent, at $78.58 a barrel, trading from $78.22 to $80.39.

CBOT-CHICAGO, Feb 23 (Reuters) - Wheat and corn futures on the Chicago Board of Trade were lower early Tuesday in a profit-taking setback after Monday's rally, while soybeans were mixed, with front months supported by firm cash markets, traders said. A firmer dollar and declines in crude oil futures hung over the grain markets.

CBOT-SOYBEANS - March up 1 cent at $9.62-1/2 per bushel; new-crop November down 3-3/4 cents at $9.32.

CBOT-SOYOIL - March down 0.33 cent at 38.50 cents a lb.

FCPO-JAKARTA, Feb 23 (Reuters) - Malaysia's palm oil futures edged up on Tuesday, giving up much of the day's earlier gains as investors locked in profit in late trade, traders said. Recent rise has been underpinned by expectations of a decline in production this month, which may offset weaker exports and reduce inventories in the world's number two producer.

Output prospects are also clouded by hotter-than-usual weather, due to the resurgent El Nino weather condition. [ID:nSGE61L09F] But the rally, which touched a six-and-a-half-week high, was halted by concerns that the market is probably overbought.

REGIONAL EQUITIES-BANGKOK, Feb 23 (Reuters) - Most major Southeast Asian stock markets gained on Tuesday as the region looked ahead to a testimony from Federal Reserve Chairman Ben Bernanke for clues on interest rates.

Singapore <.FTSTI> was up 0.9 percent, Indonesia <.JKSE> rose 0.76 percent, at one point touching its highest since Feb 5, and Thailand <.SETI> rose 1.4 percent to its highest since Jan. 21.

Malaysia <.KLSE> ended unchanged, giving up an early gain to its highest since Feb. 2.

Breaking News-RTRS-UPDATE 1-Dry spell to curb Malaysia's palm oil output

KUALA LUMPUR, Feb 22 (Reuters) - Malaysia may see weak palm oil production growth for a second straight year and miss government output target as yields suffer due to the current hot weather, estate owners said on Monday.
Hotter-than-usual weather, due to the resurgent El Nino weather condition, has aggravated the biological stress that oil palms are experiencing after seasonally higher production in the last quarter of 2009, they said.
Biological tree stress refers to weaker yields after a period of high productivity.

Breaking News-RTRS-ANALYSIS-New Indonesia palm contract has hard row to hoe

JAKARTA/KUALA LUMPUR, Feb 22 (Reuters) - A planned new palm oil futures contract in Indonesia, the world's largest producer of the commodity, faces an uphill struggle against an established Malaysian rival and the imminent launch of a U.S. competitor.
The Indonesia Commodity & Derivative Exchange (ICDX) aims to launch the contract in April, but is chasing trading volumes of more than 4 million lots a month on Bursa Malaysia , the stock exchange in its neighbour.

Trader's Highlight

DJI-NEW YORK, Feb 22 (Reuters) - U.S. stocks finished flat on Monday as investors held back before congressional testimony by Fed Chairman Ben Bernanke, while scattered buying lifted shares of health insurers and banks.

President Barack Obama revised plans for an overhaul of U.S. healthcare. The Morgan Stanley healthcare payor index <.HMO> rose 1.7 percent, but investors said financial shares benefited from the focus shifting away from reform in that sector.

NYMEX-NEW YORK, Feb 22 (Reuters) - U.S. crude oil futures finished higher for the fifth straight day on Monday, with the front-month March contract expiring amid a flurry of late short-covering and aided by rising gasoline futures.

Gasoline futures, which also ended up for the fifth consecutive day, were again lifted by the continuing refinery strikes in France.

On the New York Mercantile Exchange, March crude expired and settled up 35 cents, 35 cents, or 0.44 percent, at $80.16 a barrel, the highest close since Jan. 12's $80.79. It traded from $79.45 to $80.51, the highest since the Jan. 13 intraday high of $80.67.

CBOT-CHICAGO, Feb 22 (Reuters) - Chicago Board of Trade grains and soy complex close on Monday.

CBOT-SOYBEANS - March settled up 16-1/2 cents at $9.61-1/2 per bushel.

CBOT-SOYOIL - March settled up 0.31 cent at 38.83 cents per lb.

FCPO-JAKARTA, Feb 22 (Reuters) - Malaysia's palm oil futures rose as much as 1.6 percent to a six-week intraday high before closing slightly off the high on Monday, taking their cue from rising crude oil and soy prices, traders said.

The market shrugged off cargo surveyors' reports of a drop of between 8.4 percent and 8.6 percent in Malaysian palm oil exports in the first 20 days of February from the same period a month before. The market hopes this will be offset by a drop in production this month, thus maintaining supportive fundamentals for prices.

REGIONAL EQUITIES-BANGKOK, Feb 22 (Reuters) - Southeast Asian stock markets rose on Monday amid hopes of a bail-out for Greece and waning worries about U.S. tightening, but concern about property measures pared gains in Singapore, which ended flat <.FTSTI>.

Analysts said U.S. January inflation, which came in below expectations, supported the view that the U.S. fed funds rate would not go up soon despite the recent discount rate rise, which some saw as an initial tightening step.

Malaysia <.KLSE> finished up 0.7 percent, earlier climbing to its highest since Feb. 4, Indonesia <.JKSE> rose 0.4 percent and the Philippines <.PSI> added 1.24 percent.

In Singapore, the government announced a smaller budget deficit for fiscal 2010/11 as it sought to roll back some of the stimulus policies introduced at the height of the financial crisis last year.

FCPO Daily: Inching up

Market continue to inch higher in tight rangy mode. Market looks may want to challenge the immediate resistance at 2648 in near term. Next resistance will be looking at 2667-2675 (gap left over on 7/1/2010. To the downside, support is lies at 2621-2609(gap left over on 22/2/2010)followed by 2600-2580.

FKLI Daily: Sideways to bias upside potential

A long upper shadow candle printed as prices touch and go at the intra-day high at 1288 levels. Market momentum has improved a little following a sharp rebound. Thus, market may move sideways bias to little upside potential in near term. To the upside, resistance is looking at 1288. Downside support is pegged at 1258.5-1253.5 levels (gap left over on 22/2/2010).

Breaking News-RTRS-Malaysia's Feb 1-20 palm oil exports down 8.6 pct-ITS

KUALA LUMPUR, Feb 20 (Reuters) - Exports of Malaysian palm
oil products for Feb. 1-20 fell 8.6 percent to 844,865 tonnes
from 924,003 tonnes shipped between Jan 1 to 20, cargo surveyor
Intertek Testing Services said on Saturday.