U.S. DEC SOYBEAN CRUSHINGS 164.377 MLN BU VS NOV 160.259 MLN--NOPA
U.S. DEC SOYMEAL EXPORTS 1,282,225 TONS VS NOV 981,565 TONS--NOPA
U.S. DEC SOYOIL STOCKS 2.594 BLN LBS VS NOV 2.411 BLN--NOPA
Friday, January 15, 2010
Trader's Highlight
DJI-NEW YORK, Jan 14 (Reuters) - Global stock markets lacked conviction on Thursday, closing just marginally higher before technology bellwether Intel reported better-than-expected earnings that will likely boost Friday's trading.
The results - a 28 percent increase in fourth-quarter revenue plus a financial forecast well ahead of Wall Street's expectations - helps soften the early disappointing U.S. retail sales and weekly jobless claims data that undermined U.S. stocks.
NYMEX-NEW YORK, Jan 14 (Reuters) - U.S. crude oil futures ended lower for the fourth session in a row on Thursday, weighed down by ample petroleum inventories and as the latest retail sales and jobless claims data fueled more worries about the U.S.
economic recovery.
In late trading, prices briefly edged up, though remaining range-bound, as some traders cited new U.S. regulatory proposals on position limits as not as adverse as feared.
On the New York Mercantile Exchange, February crude settled down 26 cents, or 0.33 percent, at $79.39 a barrel, trading from $78.92 to $80.36.
CBOT-CHICAGO, Jan 14 (Reuters) - Chicago Board of Trade grains and soy complex close on Thursday.
CBOT-SOYBEANS - January expired down 15 cents at $9.68-1/2 a bushel; March down 8-1/2 cents at $9.84 a bushel. Continued good crop weather in South America remains a bearish factor even as NOPA crush data indicates strong usage. Market continues to digest this week's bearish USDA production and stocks data.
CBOT-SOYOIL - January expired down 0.83 cent at 37.80 cents per lb; March down 0.48 cent at 38.53 cents.
FCPO-JAKARTA, Jan 14 (Reuters) - Malaysian crude palm oil futures rose 0.8 percent on Thursday on market talk of a recovering demand for exports and on short-covering after a nearly 2 percent loss the previous day, traders said.
They said there was market talk that exports for the first 15 days of January would rise about 12.5 percent to 680,000 tonnes from a month ago, bouncing back from a drop in the first 10 days, as shipments for the Jan. 11-15 period were strong.
REGIONAL EQUITIES-BANGKOK, Jan 14 (Reuters) - Thailand's main stock index climbed to a three-month high on Thursday and Indonesian shares hit their highest in almost two years, with energy and resource shares such as PTT and Adaro energy leading the way.
Sentiment in Asian bourses improved as fears receded that China's policy tightening would slow its demand.
Singapore's index <.FTSTI> ended 0.7 percent higher, with Keppel Corp and Singapore Telecoms more than 1 percent higher.
Malaysia's index <.KLSE> rose 0.4 percent, led by a rise of nearly 2 percent in shipper MISC and a 1.5 percent climb in gaming group Genting .
The results - a 28 percent increase in fourth-quarter revenue plus a financial forecast well ahead of Wall Street's expectations - helps soften the early disappointing U.S. retail sales and weekly jobless claims data that undermined U.S. stocks.
NYMEX-NEW YORK, Jan 14 (Reuters) - U.S. crude oil futures ended lower for the fourth session in a row on Thursday, weighed down by ample petroleum inventories and as the latest retail sales and jobless claims data fueled more worries about the U.S.
economic recovery.
In late trading, prices briefly edged up, though remaining range-bound, as some traders cited new U.S. regulatory proposals on position limits as not as adverse as feared.
On the New York Mercantile Exchange, February crude
CBOT-CHICAGO, Jan 14 (Reuters) - Chicago Board of Trade grains and soy complex close on Thursday.
CBOT-SOYBEANS - January
CBOT-SOYOIL - January
FCPO-JAKARTA, Jan 14 (Reuters) - Malaysian crude palm oil futures rose 0.8 percent on Thursday on market talk of a recovering demand for exports and on short-covering after a nearly 2 percent loss the previous day, traders said.
They said there was market talk that exports for the first 15 days of January would rise about 12.5 percent to 680,000 tonnes from a month ago, bouncing back from a drop in the first 10 days, as shipments for the Jan. 11-15 period were strong.
REGIONAL EQUITIES-BANGKOK, Jan 14 (Reuters) - Thailand's main stock index climbed to a three-month high on Thursday and Indonesian shares hit their highest in almost two years, with energy and resource shares such as PTT and Adaro energy leading the way.
Sentiment in Asian bourses improved as fears receded that China's policy tightening would slow its demand.
Singapore's index <.FTSTI> ended 0.7 percent higher, with Keppel Corp
Malaysia's index <.KLSE> rose 0.4 percent, led by a rise of nearly 2 percent in shipper MISC
FKLI Daily: Holding well
1300 mark was tested but yet to break through convincingly. A concrete base has been building up and market likely to move higher in near term. To the upside, we are looking at the resistance at 1310 followed by 1314-1348 (gap left over on 29/2/2008). To the downside, support is pegged at 1289.
FCPO Daily: Bears conquered
Immediate technical landscape is still conquered by bears despite prices manage to cover the upside gap left over at 2525-2541 levels. We maintain our view sideways to bias downside potential in near term. To the upside, we continue to look for the resistance at 2570-2572 (gap left over on 12/1/2010). To the downside, immediate support is lies at 2480-2445 followed by 2428-2419 (gap left over on 23/11/2009).
Thursday, January 14, 2010
Breaking News-RTRS-NOPA December U.S. crush seen at 161.05 mln bu
CHICAGO, Jan 13 (Reuters) - National Oilseed Processors Association monthly crush data to be issued Thursday morning should show the December U.S. soybean crush at 161.05 million bushels, analysts projected on Wednesday.
Trade estimates ranged from 157 million to 163 million bushels.
Trade estimates ranged from 157 million to 163 million bushels.
Trader's Highlight
DJI-NEW YORK, Jan 13 (Reuters) - Risky assets, including stocks and higher-yielding currencies, rebounded on Wednesday on solid earnings expectations and a view that this week's surprise monetary tightening in China bodes well for recovery.
Gold edged higher as a decline in oil prices offset the positive effect of a weaker U.S. dollar, which earlier helped the precious metal recoup a 2 percent drop on Tuesday.
NYMEX-NEW YORK, Jan 13 (Reuters) - U.S. crude oil ended lower for the third consecutive session on Wednesday, stung by government data showing petroleum supplies rose last week.
Data from the Energy Information Administration, a unit of the Department of Energy, showed crude and gasoline inventories rose much more than expected last week.
On the New York Mercantile Exchange, February crude settled down $1.14, or 1.41 percent, at $79.65 a barrel, after trading from a high of $80.67 to $78.37, lowest since Dec. 29's low of $78.02.
CBOT-CHICAGO, Jan 13 (Reuters) - Chicago Board of Trade grains and soy complex close on Wednesday.
CBOT-SOYBEANS - January up 14 cents at $9.83-1/2 a bushel, March up 14-1/2 at $9.92-1/2 a bushel. Turns higher on bull-spreading, with nearby months gaining on deferreds amid slowdown in South American farmer selling. Strong export and domestic usage lends support.
CBOT-SOYOIL - January up 0.37 cent at 38.63 cents per lb; March up 0.38 cent at 39.01 cents. Followed soybeans higher.
FCPO-JAKARTA, Jan 13 (Reuters) - Malaysian crude palm oil futures closed down 1.8 percent on Wednesday, taking cues from weak crude oil as well as soyoil markets, with China's monetary tightening also hurting sentiment, traders said.
Expected slower demand also put pressure on the palm market. The benchmark March contract on the Bursa Malaysia Derivatives Exchange closed down 46 ringgit at 2,510 ringgit ($750).
REGIONAL EQUITIES-BANGKOK, Jan 13 (Reuters) - Singapore shares fell to their lowest in nearly two weeks lows on Wednesday, leading losses on most other Southeast Asian bourses after China moved to tighten monetary conditions by raising banks' reserve requirements.
Singapore's benchmark index <.FTSTI> slid 0.95 percent, at one stage touching its lowest since Dec. 31, with financial shares among decliners. Top bank DBS fell 1.1 percent and number two United Overseas Bank lost 1.2 percent.
Malaysia's index <.KLSE> fell 0.3 percent to its lowest since Jan. 6, with financial firm CIMB Group down 0.7 percent and telecoms firm Axiata Group nearly 1 percent lower.
Gold edged higher as a decline in oil prices offset the positive effect of a weaker U.S. dollar, which earlier helped the precious metal recoup a 2 percent drop on Tuesday.
NYMEX-NEW YORK, Jan 13 (Reuters) - U.S. crude oil ended lower for the third consecutive session on Wednesday, stung by government data showing petroleum supplies rose last week.
Data from the Energy Information Administration, a unit of the Department of Energy, showed crude and gasoline inventories rose much more than expected last week.
On the New York Mercantile Exchange, February crude
CBOT-CHICAGO, Jan 13 (Reuters) - Chicago Board of Trade grains and soy complex close on Wednesday.
CBOT-SOYBEANS - January
CBOT-SOYOIL - January
FCPO-JAKARTA, Jan 13 (Reuters) - Malaysian crude palm oil futures closed down 1.8 percent on Wednesday, taking cues from weak crude oil as well as soyoil markets, with China's monetary tightening also hurting sentiment, traders said.
Expected slower demand also put pressure on the palm market. The benchmark March contract
REGIONAL EQUITIES-BANGKOK, Jan 13 (Reuters) - Singapore shares fell to their lowest in nearly two weeks lows on Wednesday, leading losses on most other Southeast Asian bourses after China moved to tighten monetary conditions by raising banks' reserve requirements.
Singapore's benchmark index <.FTSTI> slid 0.95 percent, at one stage touching its lowest since Dec. 31, with financial shares among decliners. Top bank DBS
Malaysia's index <.KLSE> fell 0.3 percent to its lowest since Jan. 6, with financial firm CIMB Group
CBOT Soyoil Daily: Defended
Underlying support at USc38.06 is still well defended following prices manage to rebound. Hence, we are now looking for the upside resistance at Usc39.50-40.00. Downside support is still lies at Usc38.06.
FCPO Daily : Weaken further
Immediate technical outlook weakened further despite prices tested the underlying support at 2481 and rebounded to close off the low. As for now, we are looking for the immediate upside resistance at 2525-2541 (gap left over on 12/1/2010) followed by 2570-2572 (gap left over on 12/1/2010). To the downside, immediate support is lies at 2480-2445 followed by 2428-2419 (gap left over on 23/11/2009).
Wednesday, January 13, 2010
Breaking News-RTRS-Oil World sees slowdown in U.S. soybean exports
HAMBURG, Jan 12 (Reuters) - U.S. soybean exports are likely to slow down in the next three months as new crop supplies from South America enter global markets faster than normal but U.S. soyoil exports will remain high, Hamburg-based oilseeds analysts Oil World forecast on Tuesday.
"U.S. soybean exports are likely to slow down notably in the Jan./Mar. 2010 quarter due to increasing South American supplies," it said.
"In Brazil, farmers planted a larger area with early-maturing soybeans and we expect that relatively large quantities of new-crop soybeans will already become available in January and that Brazilian soybean exports will be higher than last year in Jan./Feb. 2010."
Prospects for the early 2010 soybean crop in Brazil and Argentina have improved and there are indications of late extra sowings in Argentina as farmers seek to cash in on attractive world prices, it said.
"U.S. soybean exports are likely to slow down notably in the Jan./Mar. 2010 quarter due to increasing South American supplies," it said.
"In Brazil, farmers planted a larger area with early-maturing soybeans and we expect that relatively large quantities of new-crop soybeans will already become available in January and that Brazilian soybean exports will be higher than last year in Jan./Feb. 2010."
Prospects for the early 2010 soybean crop in Brazil and Argentina have improved and there are indications of late extra sowings in Argentina as farmers seek to cash in on attractive world prices, it said.
Breaking News-RTRS-Oil world sees palm oil prices remaining high
HAMBURG, Jan 12 (Reuters) - Global palm oil prices are likely to remain high in coming months despite recent weakness, Hamburg-based oilseeds analysts Oil World forecast on Tuesday.
"Palm oil prices will indeed be supported in the next four to six months, considering that soyoil supplies are still tight in South America, sun oil supples are becoming increasingly scarce and the production prospects for palm oil are at least uncertain," it said.
"Palm oil prices will indeed be supported in the next four to six months, considering that soyoil supplies are still tight in South America, sun oil supples are becoming increasingly scarce and the production prospects for palm oil are at least uncertain," it said.
Trader's Highlight
DJI-NEW YORK, Jan 12 (Reuters) - U.S. stocks slid in a broad selloff on Tuesday as investors pummeled financials on concerns about a potential government levy on banks, while Alcoa Inc's disappointing results tempered optimism about the economic
recovery.
President Barack Obama is considering a levy on financial services firms to recoup losses from the Troubled Asset Relief Program as part of the fiscal 2011 budget, according to a senior U.S. official.
The potential fee could raise as much as $120 billion to cover taxpayer losses stemming from government bailouts, according to official sources.
Investors feared that a levy might hurt bank profits at a time when the sector was trying to recover from the financial crisis, analysts said.
The Dow Jones industrial average <.DJI> dropped 36.73 points, or 0.34 percent, to 10,627.26. The Standard & Poor's 500 Index <.SPX> fell 10.76 points, or 0.94 percent, to 1,136.22. The Nasdaq Composite Index <.IXIC> slid 30.10 points,
or 1.30 percent, to 2,282.31.
News that China's central bank was tightening monetary conditions in response to increasing concerns about the economy overheating added to the negative tone.
NYMEX-NEW YORK, Jan 12 (Reuters) - U.S. crude oil futures fell for the second day in a row on Tuesday after a surprise bank reserve tightening in China raised concerns that Chinese demand for petroleum could fall.
China on Tuesday raised the proportion of deposits that banks must hold in reserve, another sign that the fast-growing Asian country has started to tighten monetary policy.
The American Petroleum Institute will release oil inventory data at 4:30 p.m. EST (2130 GMT) on Tuesday.
The U.S. Energy Information Administration's report will be released at 10:30 a.m. EST (1530 GMT) on Wednesday.
On the New York Mercantile Exchange, February crude settled at $80.79 a barrel, down $1.73, or 2.1 percent, trading from $80.24 to $82.34.
CBOT-SOYBEANS - January down 32-1/4 cents per bushel at $9.69-1/2. March down 32-1/2 cents per bushel at $9.78.
Pressure from USDA's crop report that showed U.S. 2009 soy production and ending stocks above trade estimates. Good crop weather in South America, falling crude oil also weigh. Soybeans touch lowest level since Nov. 12.
USDA put 2009 U.S. soy production at a record 3.361 billion bushels, above the average trade estimate for 3.338 billion.
USDA raised U.S. 2009/10 soy ending stocks to 245 million bushels, above an average estimate for 235 million.
CBOT-SOYOIL - January down 0.93 cent per lb at 38.26 cents per lb. March down 0.92 at 38.63. Following soybeans and lower crude oil.
FCPO-JAKARTA, Jan 12 (Reuters) - Malaysian crude palm oil futures dropped 1.1 percent on Tuesday to the weakest closing level in nearly three weeks amid faltering crude oil prices and lingering concerns over stock build up, traders said.
The benchmark March contract on the Bursa Malaysia Derivatives Exchange settled down 29 ringgit at 2,556 ringgit ($764.69), the lowest level since Dec. 24. Overall volume was 17,942 lots of 25 tonnes each.
REGIONAL EQUITIES-BANGKOK, Jan 12 (Reuters) - Indonesia's benchmark index rose
one percent to its highest level in almost two years as banking shares rose on positive outlook, while most other Southeast Asian stock markets slipped back after recent strong runs.
Singapore's index <.FTSTI> fell 0.6 percent after a two-day run to 17-month highs, with Singapore Telecoms dropping 1.7 percent and palm plantation stock Golden Agri losing 4.7 percent after an almost seven percent surge on Monday.
Malaysia's index <.KLSE> inched down 0.1 percent at 1,292.85. Citigroup said it has raised its year-end target for Malaysia's benchmark share index to 1,400 points from 1,300 points.
Investors took profits on recent gainers such as palm plantation firm Sime Darby which lost one percent as Malaysian crude palm oil futures dropped to near three-week lows on Tuesday. Maxis , which gained on Monday, was down almost one percent on Tuesday's session.
recovery.
President Barack Obama is considering a levy on financial services firms to recoup losses from the Troubled Asset Relief Program as part of the fiscal 2011 budget, according to a senior U.S. official.
The potential fee could raise as much as $120 billion to cover taxpayer losses stemming from government bailouts, according to official sources.
Investors feared that a levy might hurt bank profits at a time when the sector was trying to recover from the financial crisis, analysts said.
The Dow Jones industrial average <.DJI> dropped 36.73 points, or 0.34 percent, to 10,627.26. The Standard & Poor's 500 Index <.SPX> fell 10.76 points, or 0.94 percent, to 1,136.22. The Nasdaq Composite Index <.IXIC> slid 30.10 points,
or 1.30 percent, to 2,282.31.
News that China's central bank was tightening monetary conditions in response to increasing concerns about the economy overheating added to the negative tone.
NYMEX-NEW YORK, Jan 12 (Reuters) - U.S. crude oil futures fell for the second day in a row on Tuesday after a surprise bank reserve tightening in China raised concerns that Chinese demand for petroleum could fall.
China on Tuesday raised the proportion of deposits that banks must hold in reserve, another sign that the fast-growing Asian country has started to tighten monetary policy.
The American Petroleum Institute will release oil inventory data at 4:30 p.m. EST (2130 GMT) on Tuesday.
The U.S. Energy Information Administration's report will be released at 10:30 a.m. EST (1530 GMT) on Wednesday.
On the New York Mercantile Exchange, February crude
CBOT-SOYBEANS - January
Pressure from USDA's crop report that showed U.S. 2009 soy production and ending stocks above trade estimates. Good crop weather in South America, falling crude oil also weigh. Soybeans touch lowest level since Nov. 12.
USDA put 2009 U.S. soy production at a record 3.361 billion bushels, above the average trade estimate for 3.338 billion.
USDA raised U.S. 2009/10 soy ending stocks to 245 million bushels, above an average estimate for 235 million.
CBOT-SOYOIL - January
FCPO-JAKARTA, Jan 12 (Reuters) - Malaysian crude palm oil futures dropped 1.1 percent on Tuesday to the weakest closing level in nearly three weeks amid faltering crude oil prices and lingering concerns over stock build up, traders said.
The benchmark March contract
REGIONAL EQUITIES-BANGKOK, Jan 12 (Reuters) - Indonesia's benchmark index rose
one percent to its highest level in almost two years as banking shares rose on positive outlook, while most other Southeast Asian stock markets slipped back after recent strong runs.
Singapore's index <.FTSTI> fell 0.6 percent after a two-day run to 17-month highs, with Singapore Telecoms
Malaysia's index <.KLSE> inched down 0.1 percent at 1,292.85. Citigroup said it has raised its year-end target for Malaysia's benchmark share index to 1,400 points from 1,300 points.
Investors took profits on recent gainers such as palm plantation firm Sime Darby
CBOT Soyoil Daily: looks Fragile
Bulls took a breathe after tested the recent high at Usc41.91. Immediate technical landscape looks fragile as Bears may strike anytime if underlying support at USc38.06 failed to defend. Next support will be looking at Usc37.50.
NYMEX Crude Daily: Entering into consolidation phase
Market is entering into consolidation phase after tested the recent high at USD83.95. Hence, upside resistance is now looking at USD83.95 followed by USD85.00. Downside support is adjusted to USD79.00-78.00.
FCPO Daily: Bears strike
Bears strike following bulls failed to defend. Immediate technical outlook is losing its upward momentum to bias downside potential. As for now, we are looking for the immediate upside resistance at 2570-2572 (gap left over on 12/1/2010) followed by 2630-2650. To the downside, immediate support is lies at 2540-2535 followed by 2500-2480 levels.
Tuesday, January 12, 2010
Breaking News-RTRS-Malaysia's Dec palm oil stocks surge 15.7 pct-MPOB
RTRS-MALAYSIA'S DEC PALM OIL OUTPUT -4.73 PCT FROM NOV - MPOB
RTRS-MALAYSIA'S DEC END-STOCKS UP 15.72 PCT FROM NOV - MPOB
RTRS-MALAYSIA'S DEC PALM OIL EXPORTS DOWN 19.47 PCT FROM NOV - MPOB
RTRS-MALAYSIA'S DEC END-STOCKS UP 15.72 PCT FROM NOV - MPOB
RTRS-MALAYSIA'S DEC PALM OIL EXPORTS DOWN 19.47 PCT FROM NOV - MPOB
Trader's Highlight
DJI-NEW YORK, Jan 11 (Reuters) - U.S. industrial shares lifted the Dow and the S&P 500 on Monday to new 15-month highs after China bolstered expectations the world economy would strengthen, but Nasdaq fell on profit-taking in tech stocks.
China reported record imports of some commodities and stronger-than-expected exports, boosting U.S. companies with large international operations like construction machinery maker Caterpillar Inc
The Dow Jones industrial average <.DJI> gained 45.80 points, or 0.43 percent, to 10,663.99. The Standard & Poor's 500 Index <.SPX> rose 2.00 points, or 0.17 percent, to 1,146.98. The Nasdaq Composite Index <.IXIC> fell 4.76 points, or 0.21 percent, to 2,312.41.
NYMEX-NEW YORK, Jan 11 (Reuters) - U.S. crude oil futures ended lower on Monday as forecasters called for milder U.S. weather ahead, after the recent freeze.Resistance stiffened near $84, prompting a selloff by market bears.
On the New York Mercantile Exchange, February crude settled down 23 cents, or 0.28 percent, at $82.52 a barrel, trading from $82.05 to $83.95, highest since the $84.83 intraday high was struck on Oct. 14, 2008.
CBOT-SOYBEANS - January down 11-1/4 cents at $10.01-3/4 a bushel, March down 11-1/2 at $10.10-1/2.
Bellwether March fell to a two-week low on prospects for large South American crops and weaker crude oil prices. Expectations for a big soy number in Tuesday's USDA crop production report also weighs.
CBOT-SOYOIL - January down 0.34 cent at 39.19 cents per lb; March down 0.36 cent at 39.55 cents. Following soybeans and crude oil lower.
FCPO-JAKARTA, Jan 11 (Reuters) - Malaysian crude palm oil futures closed lower on Monday dragged down by bigger-than-expected stock levels in December, and weaker exports in the first ten days of January, traders said.
The benchmark March contract on the Bursa Malaysia Derivatives Exchange settled down 41 ringgit, or 1.6 percent, at 2,585 ringgit ($775.11). Overall volume was more than double at 24,564 lots of 25 tonnes each.
Malaysia's December palm oil stocks rose 15.7 percent to 2,238,717 tonnes from a revised 1,934,613 tonnes in November, industry regulator Malaysian Palm Oil Board (MPOB) said on Monday.
REGIONAL EQUITIES-BANGKOK, Jan 11 (Reuters) - Singapore stocks climbed to
17-month highs on Monday as optimism about economic recovery bolstered sentiment around the region, and Thai stocks advanced more than 1 percent, with energy shares leading the way.
Singapore's Straits Times Index <.FTSTI> rose 0.4 percent to its highest level since July 31, 2008, with palm plantation stock Golden Agri and shipper Neptune Orient Lines both surging almost 7 percent.
Malaysia's index <.KLSE> edged up 0.1 percent, with financial firm CIMB Group and Maxis up about 1 percent.
Top Glove Corp gained 2.3 percent as it expected global demand for rubber gloves to grow by about 8-10 percent this year as the H1N1 flu pandemic triggered a new health awareness.
China reported record imports of some commodities and stronger-than-expected exports, boosting U.S. companies with large international operations like construction machinery maker Caterpillar Inc
The Dow Jones industrial average <.DJI> gained 45.80 points, or 0.43 percent, to 10,663.99. The Standard & Poor's 500 Index <.SPX> rose 2.00 points, or 0.17 percent, to 1,146.98. The Nasdaq Composite Index <.IXIC> fell 4.76 points, or 0.21 percent, to 2,312.41.
NYMEX-NEW YORK, Jan 11 (Reuters) - U.S. crude oil futures ended lower on Monday as forecasters called for milder U.S. weather ahead, after the recent freeze.Resistance stiffened near $84, prompting a selloff by market bears.
On the New York Mercantile Exchange, February crude
CBOT-SOYBEANS - January
Bellwether March fell to a two-week low on prospects for large South American crops and weaker crude oil prices. Expectations for a big soy number in Tuesday's USDA crop production report also weighs.
CBOT-SOYOIL - January
FCPO-JAKARTA, Jan 11 (Reuters) - Malaysian crude palm oil futures closed lower on Monday dragged down by bigger-than-expected stock levels in December, and weaker exports in the first ten days of January, traders said.
The benchmark March contract
Malaysia's December palm oil stocks rose 15.7 percent to 2,238,717 tonnes from a revised 1,934,613 tonnes in November, industry regulator Malaysian Palm Oil Board (MPOB) said on Monday.
REGIONAL EQUITIES-BANGKOK, Jan 11 (Reuters) - Singapore stocks climbed to
17-month highs on Monday as optimism about economic recovery bolstered sentiment around the region, and Thai stocks advanced more than 1 percent, with energy shares leading the way.
Singapore's Straits Times Index <.FTSTI> rose 0.4 percent to its highest level since July 31, 2008, with palm plantation stock Golden Agri
Malaysia's index <.KLSE> edged up 0.1 percent, with financial firm CIMB Group
Top Glove Corp
FCPO Daily: Into correction mode
Market losing ground further with printed a long black candle following prices violated the immediate support at 2600-2580 levels. Bulls looks likely to take a breathe after the recent run up. Thus, we may enter into correction mode in near term. As for now, we are looking for the immediate upside resistance at 2667-2675 (gap left over on 7/1/2010). To the downside, immediate support is lies at 2540-2535 followed by 2500-2480 levels.
Monday, January 11, 2010
Trader's Highlights
DJI - NEW YORK, Jan 8 - U.S. stocks rose on Friday after trading in the red most of the day as investors concluded weak December jobs data wouldn't interrupt a trend of steady economic recovery.
The Dow Jones industrial average rose 11.33 points, or 0.11 percent, at 10,618.19. The Standard & Poor's 500 Index climbed 3.29 points, or 0.29 percent, at 1,144.98. The
Nasdaq Composite Index added 17.12 points, or 0.74 percent, at 2,317.17.
NYMEX - NEW YORK, Jan 8 - U.S. crude oil futures ended up on Friday as gasoline futures surged after a fire at a Canadian refinery that ships products to the New York Harbor trumped worries on the job front.
On the New York Mercantile Exchange, February crude settled up 9 cents, or 0.11 percent, at $82.75 a barrel, trading from $81.80 to $83.47, short of Wednesday's near 15-month high of $83.52. Prices are up $1.24, or 1.52 percent, from a week ago.
CBOT - SOYBEANS - January down 4-3/4 cents at $10.13 a bushel; most-active March down 4 at $10.22. Good crop weather and record-large soy crop prospects in South America weigh on soybean futures, along with concern about a potential slowdown in Chinese buying of U.S. soy.
CBOT - SOYOIL - January down 0.46 cent at 39.53 cents per lb; March down 0.45 at 39.91 cents. Following soybeans, with downturn in crude oil market adding pressure.
FCPO - JAKARTA, Jan 8 - Malaysian crude palm oil futures ended 0.2 percent lower on Friday, but regained most of the day's earlier losses on late position squaring amid caution ahead of stock data due out Monday, traders said.
The market was under pressure initially on follow-through selling over fears that China's move to tighten liquidity could hit demand for the tropical oil and on talk of higher palm oil stocks in December.
The benchmark March contract on the Bursa Malaysia Derivatives Exchange settled down 4 ringgit at 2,626 ringgit ($778.07), after going as low as 2,590 ringgit. Overall volume was double the usual at 20,115 lots of 25 tonnes each.
REGIONAL EQUITIES - BANGKOK, Jan 8 - Most Southeast Asian stock markets were narrowly higher on Friday, with Singapore, Indonesia and hailand leading the way as investors piled into agricultural firms and exporters due to optimism about the global recovery.
Singapore's Straits Times Index added 0.27 percent, recovering from Thursday's drop to stay around 17-month highs, while Indonesia rallied after a two-day fall, rising 1.06 percent and hovering near its highest in 22 months.
Thai stocks advanced 0.59 percent, having hit a one-week high in early trade, boosted by demand for exporters such as chicken exporter Charoen Pokphand Foods, which rose 2.65 percent.
Malaysian shares ended up 0.12 percent, but Philippine shares inched 0.02 percent lower and Vietnam hit a near-one-week low, falling 2.33 percent.
The Dow Jones industrial average rose 11.33 points, or 0.11 percent, at 10,618.19. The Standard & Poor's 500 Index climbed 3.29 points, or 0.29 percent, at 1,144.98. The
Nasdaq Composite Index added 17.12 points, or 0.74 percent, at 2,317.17.
NYMEX - NEW YORK, Jan 8 - U.S. crude oil futures ended up on Friday as gasoline futures surged after a fire at a Canadian refinery that ships products to the New York Harbor trumped worries on the job front.
On the New York Mercantile Exchange, February crude settled up 9 cents, or 0.11 percent, at $82.75 a barrel, trading from $81.80 to $83.47, short of Wednesday's near 15-month high of $83.52. Prices are up $1.24, or 1.52 percent, from a week ago.
CBOT - SOYBEANS - January down 4-3/4 cents at $10.13 a bushel; most-active March down 4 at $10.22. Good crop weather and record-large soy crop prospects in South America weigh on soybean futures, along with concern about a potential slowdown in Chinese buying of U.S. soy.
CBOT - SOYOIL - January down 0.46 cent at 39.53 cents per lb; March down 0.45 at 39.91 cents. Following soybeans, with downturn in crude oil market adding pressure.
FCPO - JAKARTA, Jan 8 - Malaysian crude palm oil futures ended 0.2 percent lower on Friday, but regained most of the day's earlier losses on late position squaring amid caution ahead of stock data due out Monday, traders said.
The market was under pressure initially on follow-through selling over fears that China's move to tighten liquidity could hit demand for the tropical oil and on talk of higher palm oil stocks in December.
The benchmark March contract on the Bursa Malaysia Derivatives Exchange settled down 4 ringgit at 2,626 ringgit ($778.07), after going as low as 2,590 ringgit. Overall volume was double the usual at 20,115 lots of 25 tonnes each.
REGIONAL EQUITIES - BANGKOK, Jan 8 - Most Southeast Asian stock markets were narrowly higher on Friday, with Singapore, Indonesia and hailand leading the way as investors piled into agricultural firms and exporters due to optimism about the global recovery.
Singapore's Straits Times Index added 0.27 percent, recovering from Thursday's drop to stay around 17-month highs, while Indonesia rallied after a two-day fall, rising 1.06 percent and hovering near its highest in 22 months.
Thai stocks advanced 0.59 percent, having hit a one-week high in early trade, boosted by demand for exporters such as chicken exporter Charoen Pokphand Foods, which rose 2.65 percent.
Malaysian shares ended up 0.12 percent, but Philippine shares inched 0.02 percent lower and Vietnam hit a near-one-week low, falling 2.33 percent.
Friday, January 8, 2010
Breaking News-RTRS-US soy oil stocks 2.904 bln lbs in November - Census
WASHINGTON, Jan 7 (Reuters) - U.S. soybean oil stocks totaled 2.904
billion lbs in November, compared to 2.713 billion lbs in October, the U.S.
Census Bureau said Thursday.
billion lbs in November, compared to 2.713 billion lbs in October, the U.S.
Census Bureau said Thursday.
Breaking News-RTRS-WRAPUP 2-China c.bank surprises with yield hike, stocks tumble
SHANGHAI, Jan 7 (Reuters) - China's central bank surprised markets on Thursday by raising the interest rate on its three-month bills for the first time since August, intensifying its grip on liquidity a day after it promised to keep credit growth in check.
While analysts said the move was just a withdrawal of surplus cash in the system, markets feared the worst, taking it as a sign the central bank could be getting ready to use more forceful measures to cool growth and fight inflation, such as raising benchmark lending rates.
While analysts said the move was just a withdrawal of surplus cash in the system, markets feared the worst, taking it as a sign the central bank could be getting ready to use more forceful measures to cool growth and fight inflation, such as raising benchmark lending rates.
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