Tuesday, October 19, 2010

Trader's Highlight

DJI-NEW YORK, Oct 18 (Reuters) - U.S. stocks rose on Monday, led by gains in financials as Citigroup reported stronger-than-expected profits and concerns eased about the sector's potential exposure to foreclosure problems.

"The financials last week were getting hammered over questions over foreclosure proceedings ... now it doesn't seem to be as all-encompassing," said Marc Pado, U.S. market strategist at Cantor Fitzgerald & Co in San Francisco.

Corporate results so far suggest "the banks are slowly getting better, getting repaired. And I think that's been the game plan all along," he said.

The Dow Jones industrial average <.DJI> was up 47.15 points, or 0.43 percent, at 11,109.93. The Standard & Poor's 500 Index <.SPX> added 3.48 points, or 0.30 percent, at 1,179.67. The Nasdaq Composite Index <.IXIC> inched up 1.19 points, or 0.05 percent, at 2,469.96.

NYMEX-NEW YORK, Oct 18 (Reuters) - U.S. crude oil futures ended 2.25 percent higher on Monday, the biggest one-day gain in two weeks, lifted as refined product futures rose on prolonged strikes in France that have hit shipping and refineries.

In early trading, the dollar's strength had pressured oil, but the greenback later gave up gains against the euro and a basket of currencies <.DXY> adding spring to the oil price bounce.

On the New York Mercantile Exchange, crude for November delivery rebounded from Friday's loss and settled $1.83 higher, or 2.25 percent, at $83.08 a barrel, trading from $80.35 to $83.18. The day's gain was the highest since front-month prices rose 2.71 percent on Sept. 30.

CBOT-CHICAGO, Oct 18 (Reuters) - Chicago Board of Trade grain and soybean complex close on Monday.

CBOT- SOYBEAN - November down 1 cent at $11.84 a bushel; January down 3/4 at $11.95. Pressured by active U.S. soybean harvest and profit-taking amid overbought technicals, along with better crop weather in South America. But strong export demand and bullish weekly inspections data underpin market and deferred months ended firm as the market begins to buy soy acreage for 2011.

CBOT - SOYOIL - December down 0.11 cent at 47.66 cents per lb.

FCPO-KUALA LUMPUR, Oct 18 (Reuters) - Malaysian palm oil fell to its lowest in a week and other vegetable oil prices stalled as a stronger dollar and more favourable weather outlooks in South America sapped sentiment.

Palm oil -- which was within striking distance of the 3,000 ringgit level last hit in August 2008 -- came under pressure from some technical selling and weaker-than expected exports in October.

Malaysia's benchmark January 2011 palm oil contract ended 1.6 percent lower at 2,889 ringgit ($937.4) after going as a low as 2,877 ringgit --- a level last traded on Oct. 11.

REGIONAL EQUITIES-BANGKOK, Oct 18 (Reuters) - Southeast Asian stock markets fell on Monday as investors cashed in recent gains, with expectations of a new round of U.S. monetary easing generally already priced in.

Equities indexes in Singapore <.FTSTI> and Malaysia <.KLSE> came off multi-year highs hit last week. Indonesia <.JKSE> fell 0.8 percent while the Philippines <.PSI> was flat, both having recently hit record highs.

U.S. Federal Reserve chief Ben Bernanke cemented expectations on Friday of more U.S. stimulus to fend off deflation, prompting a reversal of trades that had been pushing the dollar lower and most Asian stocks higher for weeks.

In Southeast Asia, selling hit commodity-related shares, which had led the recent rally. Malaysia's top power producer, Tenaga Nasional , lost 1.2 percent, while Thailand's biggest energy firm, PTT , dropped 1.6 percent.

Singapore-listed Wilmar International Ltd. , the world's largest listed palm oil firm, was down 1.1 percent while Philippine geothermal power firm Energy Development Corp was 2 percent lower.

Monday, October 18, 2010

Trader's Highlight

DJI-NEW YORK, Oct 15 (Reuters) - World stocks slid and the dollar rebounded on Friday as a growing U.S. foreclosure crisis undermined an initial boost after U.S. Federal Reserve Chairman Ben Bernanke indicated more monetary stimulus was on the way.

U.S. Treasury prices fell and yields rose on the view that Bernanke aims to boost asset prices by creating inflation through a second round of so-called quantitative easing.

Bernanke said there was a case for further monetary easing, given high unemployment and low inflation. But despite his most explicit signal yet, he offered no details on the Fed's next move.

The Dow Jones industrial average <.DJI> closed down 31.79 points, or 0.29 percent, at 11,062.78. The Standard & Poor's 500 Index <.SPX> rose 2.38 points, or 0.20 percent, at 1,176.19. The Nasdaq Composite Index <.IXIC> added 33.39 points, or 1.37 percent, at 2,468.77.

NYMEX-NEW YORK, Oct 15 (Reuters) - U.S. crude oil futures prices fell on Friday in choppy trading as the dollar bounced, pressuring oil, and as November crude oil options approached their expiration at the end of the session.

Crude prices finished lower on the week, the first lower finish in four weeks.

On the New York Mercantile Exchange, November crude fell $1.44, or 1.74 percent, to settle at $81.25 a barrel, trading from $80.75 to $83.33.

CBOT-CHICAGO, Oct 15 (Reuters) - Chicago Board of Trade grain and soybean closing trends on Friday.

CBOT-SOYBEANS - November down 3-1/2 cents at $11.85 a bushel; January down 3-1/4 at $11.95-3/4. Falling crude oil market and strengthening dollar pressure prices despite good demand for U.S. supplies on the export market.

CBOT-SOYOIL - December down 0.25 cent at 47.77 cents per lb. Weakness in crude oil market weighs.

FCPO-KUALA LUMPUR, Oct 15 (Reuters) - Malaysian palm oil futures look likely to revisit the 3,000 ringgit ($973.4) level hit two years ago as global vegetable oil supply concerns grow and the U.S. dollar weakens.

But could the party end abruptly for palm oil, which has surged almost 24 percent so far in the second half of 2010?

Palm oil has been riding high since a drought hit oilseed crops in the Black Sea region in July and August, getting an extra fillip this week when the U.S. government surprisingly cut its estimates for what was expected to be a bumper soy crop.

The third month contract on Bursa Malaysia rose 19 ringgit to 2,935 ringgit a tonne on Friday, just off the two-year high of 2,970 ringgit hit the previous day.

REGIONAL EQUITIES-BANGKOK, Oct 15 (Reuters) - Most Southeast Asian stock markets pulled back modestly on Friday, pausing after gains early in the
week amid optimism about further monetary easing by the U.S. Federal Reserve, but Thailand and Singapore eked out small gains.

Regional equity markets, including Thailand and the Philippines, attracted strong inflows on the week as international capital sought high investment returns, prompting policy makers to take measures to deal with the currency impact.

Singapore's central bank surprised markets by widening its trading band for its currency, pushing the Singapore dollar to multi-year highs.

Malaysia hit a 33-month high, Singapore moved around a 29-month high and Thailand hovered at a level not seen since before the 1997-98 Asian financial crisis.

In Singapore, Singapore Exchange Ltd , Asia's second largest bourse by market cap, rose 4.3 percent ahead of major listings and the release of first-quarter earnings next week.

Friday, October 15, 2010

Trader's Highlight

DJI-NEW YORK, Oct 14 (Reuters) - Banks led U.S. stocks lower on Thursday as investors fretted a widening foreclosure crisis could undermine the market's strength over the last five weeks.

The S&P 500 has rallied 11.9 percent since Sept. 1 and volume has picked up from anemic levels. But the rally could weaken as an index of bank stocks fell nearly 3 percent on Thursday over growing fears the foreclosure problems could bleed into the broader credit markets and the economy.

The Dow Jones industrial average <.DJI> dipped 1.51 points, or 0.01 percent, to 11,094.57. The Standard & Poor's 500 <.SPX> dropped 4.29 points, or 0.36 percent, to 1,173.81. The Nasdaq Composite <.IXIC> shed 5.85 points, or 0.24 percent, to 2,435.38.

NYMEX-NEW YORK, Oct 14 (Reuters) - U.S. crude futures slipped on Thursday as disappointing jobless claims data and losses on Wall Street pressured oil despite a weak dollar and a government report of an unexpected slip in oil stockpiles.

OPEC's decision to leave production targets unchanged and a forecast from an analyst that OPEC exports will rise in the four weeks to Oct. 30 helped curb oil, even as the dollar's slump and a strike affecting French refineries lent support.

On the New York Mercantile Exchange, November crude fell 32 cents or 0.39 percent to settle at $82.69 a barrel, trading from $82.21 to $84.12.

CBOT-CHICAGO, Oct 14 (Reuters) - Chicago Board of Trade grain and soybean complex closing trends on Thursday.

CBOT-SOYBEANS - November up 12 cents at $11.88-1/2 a bushel; January up 12 at $11.99. Strong export demand for U.S. supplies continues to underpin prices despite weak crude oil market. NOPA monthly crush figure as well as lower dollar also viewed as bullish.

CBOT-SOYOIL - December up 0.44 at 48.02 cents per lb. Weak dollar, rally in soybeans supportive but falling crude oil market limits gains.

FCPO-KUALA LUMPUR, Oct 14 (Reuters) - Asian vegetable oil markets hit their highest in more than two years on Thursday, with palm oil hovering near a key resistance level on a weaker U.S. dollar and supply concerns.

The dollar fell to a ten-month low against a basket of currencies, fuelled by expectations of monetary easing by the U.S. Federal Reserve and raising hopes for stronger demand for cheaper dollar-priced products like soyoil and palm oil.

Malaysian palm oil futures <0#KPO:> ended half a percent lower after going as high as 2,970 ringgit ($960.8), a level not seen since August. 1 2008 and within striking distance of the key 3,000 ringgit resistance level.

REGIONAL EQUITIES-BANGKOK, Oct 14 (Reuters) - Most Southeast Asian stock markets ended firmer on Thursday, with foreign inflows rising on the back of a weak dollar, but late profit-taking helped pull indexes from multi-year highs.

Thailand <.SETI> and Indonesia <.JKSE> ended with small gains but the Philippines <.PSI> climbed almost 1 percent as foreign inflows hit the highest this year.

Malaysia <.KLSE> inched lower, after at one point touching a 33-month high, while Singapore <.FTSTI> ended down 0.2 percent after earlier approaching a 29-month high.

Singapore's central bank increased the slope of the band in which it maintains the Singapore dollar , effectively a slight tightening of monetary policy. The Singapore dollar surged to a record high in reaction.

Singapore palm oil company Wilmar International Ltd rose 4.2 percent, while Thailand's top olefins maker, PTT Aromatics and Refining Pcl , jumped 4.4 percent.

Malaysia's top power producer, Tenaga Nasional Berhad , rose 0.3 percent and Indonesia's biggest gas operator, PT Perusahaan Gas Negara Tbk , gained 3.13 percent.

Thursday, October 14, 2010

Trader's Highlight

DJI-NEW YORK, Oct 13 (Reuters) - U.S. stock indexes hit their highest level in five months on Wednesday as stronger-than-expected earnings and lingering U.S. dollar weakness increased demand for equities.

Shares in the industrials and materials sectors led the way while commodity prices soared as China's month-on-month import growth hit a record high.

The Dow Jones industrial average <.DJI> gained 75.68 points, or 0.69 percent, to 11,096.08. The Standard & Poor's 500 <.SPX> added 8.33 points, or 0.71 percent, to 1,178.10. The Nasdaq Composite <.IXIC> rose 23.31 points, or 0.96 percent, to 2,441.23.

NYMEX-NEW YORK, Oct 13 (Reuters) - U.S. crude oil futures rebounded more than 1 percent on Wednesday as the dollar's renewed weakness, further raised expectations the Federal Reserve would launch fresh monetary easing policies to help boost the economy.

Earlier support came from China where data showed the country's crude oil imports rose 35 percent in September from a year earlier.

On the New York Mercantile Exchange, crude for November delivery , rebounded sharply from Tuesday's loss and settled up $1.34, or 1.64 percent, to $83.01 a barrel. It traded from to $83.45.

CBOT-CHICAGO, Oct 13 (Reuters) - Chicago Board of Trade grain and soybean complex closing trends on Wednesday.

CBOT-SOYBEANS - November down 2 cents at $11.76-1/2 a bushel; January down 2-1/2 at $11.87. Prices turn lower late in session as traders lock in profits despite firming crude oil market, weaker dollar.

CBOT-SOYOIL - October up 0.68 at 47.22 cents a lb; more active December up 0.63 at 47.58. Rally in crude oil supportive.

FCPO-KUALA LUMPUR, Oct 13 (Reuters) - Soyoil futures in China ended off 25-month highs hit earlier on Wednesday on news that the government will release vegetable oil reserves next week to rein in the recent run-up in prices.

The most-active May 2011 soyoil contract on the Dalian Commodity Exchange ended up 0.3 percent. The contract went as high as 9,004 yuan in the morning sessions on future supply concerns stemming from a U.S. government report that cut soy crop forecasts.

China's Rapeseed oil futures <0#CRO:> ended up slightly by 0.8 percent. China is going to release 300,000 tonnes of rapeseed oil from state reserves next week as part of efforts to tame rising vegetable oil prices in the runup to national holiday early next year, according to an official announcement issued on Wednesday.

Malaysian palm oil futures <0#KPO:> ended more than one percent in Asian trade hours on expectations of higher exports in the Southeast Asian country. Traded volume stood at 4,891 lots at 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, Oct 13 (Reuters) - Southeast Asian stock markets gained on Wednesday amid expectations of fresh U.S. economic stimulus, with rising crude oil prices swelling demand for heavily weighted commodity shares across the region.

Share markets recouped recent losses as growing risk appetite lured more inflows into equities, although that pushed up their currencies, which made investors wary about possible intervention moves by the authorities.

Singapore's Straits Times Index <.FTSTI> rose 1.7 percent, its biggest one-day rise in almost four months, Malaysia <.KLSE> gained 0.7 percent, setting a 33-month high, and Indonesia <.JKSE> jumped 1.8 percent, moving near a record hit last week.

In Singapore, the local index hovered around 28-month highs, led by palm oil companies, with Golden Agri-Resources jumping 9.2 percent and Indofood Agri Resources climbing 7.9 percent amid firm palm oil prices.

Malaysia's IOI Corp rose 2.5 percent while Indonesia's Astra Agro Lestari gained 3.2 percent and Thailand's top energy firm, PTT , rose over 1 percent.

Wednesday, October 13, 2010

Breaking News - RTRS - China MofCom lifts Oct soy import estimate to 4.1 mln T

BEIJING,Oct 12 (Reuters) - China's commerce ministry has revised upwards its estimate for October soy imports to 4.15 million tonnes, even with its estimate for September.

The figures are both higher than imports of 2.7 million and 2.5 million tonnes, respectuvely, from a year earlier, according to official Customs data.

Expansion of crushing capacity coupled with lower soyoil imports have spurred purchases of the oilseed. China imported a record 6.2 million tonnes in June.