Breaking News-RTRS-WRAPUP 4-S&P cuts Greek debt to junk, downgrades Portugal

ATHENS/BERLIN, April 27 (Reuters) - Rating agency Standard and Poor's slashed Greek debt to junk status on Tuesday and also downgraded Portugal, as investors worried political pressures could block a multi-billion euro bailout of Greece.
Markets in Europe and the United States tumbled in reaction to signs that the Greek debt crisis was spreading to other highly indebted states on the periphery of the euro zone.

Trader's Highlight

DJI-NEW YORK, April 27 (Reuters) - U.S. stocks tumbled on Tuesday as downgrades of Greece and Portugal fueled fear about euro-zone economic stability, and a grilling of Goldman Sachs on Capitol Hill heightened the possibility of financial reform.

Stocks posted their worst day in nearly three months and the CBOE Vix volatility index <.VIX>, Wall Street's barometer of investor fear, jumped about 31 percent, its biggest one-day move since October 2008.

The Dow Jones industrial average <.DJI> dropped 213.04 points, or 1.90 percent, to 10,991.99. The Standard & Poor's 500 Index <.SPX> slid 28.34 points, or 2.34 percent, to 1,183.71. The Nasdaq Composite Index <.IXIC> lost 51.48 points, or 2.04 percent, to 2,471.47.

NYMEX-NEW YORK, April 27 (Reuters) - U.S. crude futures were down sharply on Tuesday on expectations of another increase in crude and refined product inventories in weekly industry and government reports.

The euro's fall against the dollar on uncertainty about financial aid for debt-laden Greece also pressured crude futures as investors sought less risky assets.

On the New York Mercantile Exchange at 9:50 a.m. EDT (1350 GMT), June crude was down 65 cents, or 0.77 percent, at $83.55 a barrel, trading from $83.06 to $84.


CBOT-CHICAGO, April 27 (Reuters) - Chicago Board of Trade grains and soy complex close on Tuesday.
NOTE: Chicago Board of Trade corn and soybean futures closed lower as Portugal and Greece's debt rating downgraded, hitting the stock market, boosting the dollar and weighing on crude oil.

CBOT-SOYBEANS - May down 16 cents at $9.82-3/4. Pressure from downgrade of Portugal and Greece's debt rating, lower stock market, firm dollar, lower crude oil and good crop weather in the U.S..

CBOT-SOYOIL - May down 0.17 cent per lb at 39.12. Following soybeans with lower crude oil also weighing.

FCPO-KUALA LUMPUR, April 27 (Reuters) - Malaysian palm oil futures fell on Tuesday after hitting a fresh two-week high as traders booked profits but losses were limited by the weaker ringgit currency.

The benchmark July crude palm oil contract on the Bursa Malaysia Derivatives Exchange ended 10 ringgit lower at 2,550 ringgit ($803.9) a tonne after going as high as 2,581 ringgit -- a level unseen since April 9.

Overall volumes shot up to 14,482 lots of 25 tonnes each from the usual 10,000 lots in choppy trade. Malaysia's ringgit currency also eased after it hit the highest level in two years on Monday, giving some respite for refiners whose margins get eroded as crude palm oil feedstock is priced in ringgit.

REGIONAL EQUITIES-COLOMBO, April 27 (Reuters) - Thai shares closed weaker on Tuesday because of political woes despite hopes of better earnings, while Singapore fell due to selling pressure ahead of upcoming IPOs.

Singapore <.FTSTI> lost 0.4 percent, Thailand <.SETI> fell 0.3 percent, Indonesia <.JKSE> closed 0.2 percent down from a record high in the previous session, and Malaysia <.KLSE> edged down after touching one-week highs on Monday.

In Kuala Lumpur, the index <.KLSE> inched down 0.03 percent, led by fall in banking shares, with a 0.3 percent fall in both CIMB Group and Public Bank .

FCPO Daily: Holding ground

Immediate technical outlook remains sideways to bias upside potential despite prices erased its earlier gains to end lower. Thus, we continue to look for the immediate upside resistance at 2595-2600. While, downside support is lies at 2503-2497 levels (gap left over on 23/4/2010).

DJI Daily: Into Correction zone

Market hammered down with a long black candle had slow down the market upward momentum. Thus, market may enter into correction zone after the recent long run. Currently, we are looking for the downside support at 10,800-10,700. To the upside, resistance is pegged at 11,258.

FKLI Daily: Sideways likely to continue

Nothing much changes on the immediate technical landscape as prices remains in sideways move. Consolidation phase likely to extend in near term. Hence, market may continue to trade in range between 1320 to 1350.5 levels.

Trader's Highlight

DJI-NEW YORK, April 26 (Reuters) - U.S. stocks edged lower on Monday as bank shares fell on fears that financial reform making its way through Congress will curb profits, while Caterpillar's strong results buoyed the Dow.

A proposal to overhaul financial regulation that could restrict lucrative derivatives trading was expected to face a crucial Senate test vote on Monday and weighed on financial shares.

The Dow Jones industrial average <.DJI> edged up 0.75 point, or 0.01 percent, to close at 11,205.03. The Standard & Poor's 500 Index <.SPX> dropped 5.23 points, or 0.43 percent, to 1,212.05. The Nasdaq Composite Index <.IXIC> lost 7.20 points, or 0.28 percent, to 2,522.95.

NYMEX-NEW YORK, April 26 (Reuters) - U.S. crude futures were lower in choppy trading early on Monday as the dollar strengthened in a sign of risk aversion.

The euro extended losses against the dollar after Germany's chancellor said Greece must commit to further savings measures before Germany can provide emergency aid.

On the New York Mercantile Exchange, at 10 a.m. EDT (1400 GMT), June crude was down 50 cents, or 0.59 percent, at $84.62, trading from $84.53 to $85.63.

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

CBOT-SOYBEANS - May down 1-1/4 cents at $9.98-3/4 per bushel; new-crop November down 1-1/2 at $9.77-1/2. Profit taking, drop in crude oil weighs on prices after market rallies to $10.09-1/2 early in session.

CBOT-SOYOIL - May down 0.06 cent at 39.29 cents per lb. Palm oil ends up as fall in exports slows.

FCPO-KUALA LUMPUR, April 26 (Reuters) - Malaysian palm oil futures rose 0.8 percent on Monday to a two-week high, tracking stronger soyoil and crude oil markets, after the latest trade data showed that a decline in Malaysia's palm oil exports slowed.

The benchmark July crude palm oil contract on Bursa Malaysia Derivatives gained 20 ringgit to 2,560 ringgit ($802.5) a tonne, off a high of 2,568 ringgit -- a level last seen on April 12. Overall traded volume rose to 13,447 lots of 25 tonnes each from the usual level around 10,000 lots.

REGIONAL EQUITIES-BANGKOK, April 26 (Reuters) - Thai stocks gained over 1 percent on Monday as oil and resource shares recovered ahead of quarterly results, even though prolonged anti-government protests are raising concern about the economic recovery.

Economic optimism brought more fund inflows to the region, pushing Indonesia <.JKSE> to a record high, with Singapore <.FTSTI> and Malaysia <.KLSE> touching one-week highs. The Philippines <.PSI> rose 1.5 percent and Vietnam <.VNI> added 0.4 percent.

In Singapore, the index rose 0.5 percent, climbing to its highest since April 16. The city state's factory output grew by double-digits from a year ago as the trade-dependent economy continues its rebound from its worst ever-recession last year.

Commodities firms were among gainers, with Noble Group rising 0.33 percent and Wilmar International adding 1 percent.

In Kuala Lumpur, the index <.KLSE> inched up 0.25 percent, in line with the Malaysian ringgit on foreign buying of local assets fanned by optimism about the country's economic recovery.

Financial firm CIMB Group rose 0.7 percent and Malayan Banking was up 0.3 percent.

FCPO Daily: Sideways to bias upside potential

Market rebounded for consecutive 3 trading days and violated the physiological resistance at 2500 levels had improved the immediate daily technical outlook to sideways bias upside potential. Thus, we are looking to for the immediate upside resistance at 2595-2600. While, downside support is lies at 2500 levels.

FKLI Daily: Consolidation likely to continue

Market remains stuck in tight range in between 1350.5 to 1320 levels. Thus, market looks may continue to consolidate in near term.

Breaking News-RTRS-Indonesia Q1 palm oil exports up 7 pct on China, India demand

JAKARTA, April 23 (Reuters) - Indonesia's palm oil exports in the first quarter rose 7 percent from a year ago on strong demand from India and China, the Indonesian Palm Oil Association (GAPKI) said on Friday.
Indonesia exported 3.62 million tonnes of palm oil products in the first three months, compared to 3.38 million tonnes in the same period in 2009, Gapki said in a statement.

Breaking News-RTRS-UPDATE 1-China threatens retaliation in Argentina trade spat

BEIJING/BUENOS AIRES, April 22 (Reuters) - A top Chinese trade official said Beijing has no choice but to consider retaliating against Argentina over protectionist moves, deepening a row affecting soyoil shipments, the official Xinhua news agency reported on Thursday.
China has imposed a tough new quality standard on imports of soyoil from Argentina, the world's No. 1 supplier, but Chinese officials have denied it is linked to Argentine anti-dumping measures on China's manufactured goods.

NYMEX Crude Weekly: Sideways to bias upside potential

Market retreated after facing some resistance at USD87.00. Nevertheless, market remains its sideways to bias upside potential move in near term market. Hence, look for the upside resistance at USD87 to 90.50. Immediate downside support is looking at USD80.00

Trader's Highlight

DJI-NEW YORK, April 23 (Reuters) - U.S. stocks rose to a 19-month high on Friday as Merck eased concerns about the impact of healthcare reform, saying its costs will be relatively low.

Energy shares lifted the broad market after oil rose 1.7 percent to above $85 a barrel on positive economic data. The S&P energy index <.GSPE> gained 2.3 percent, while Chevron was up 1.8 percent at $82.67.

The Dow Jones industrial average <.DJI> gained 69.99 points, or 0.63 percent, to 11,204.28. The Standard & Poor's 500 Index <.SPX> rose 8.61 points, or 0.71 percent, to 1,217.28. The Nasdaq Composite Index <.IXIC> added 11.08 points, or 0.44 percent, to 2,530.15.

NYMEX-NEW YORK, April 23 (Reuters) - U.S. crude futures settled above $85 a barrel on Friday, the highest in a week, as economic optimism spurred by a big rise in home sales raised new hopes that the economic recovery was on course.

Risk appetite was stronger, with the dollar dipping slightly against a basket of currencies. <.DXY>. The euro rebounded from one-year lows against the dollar as Greece sought to activate a financial aid package and Germany said it was ready to commit to a plan to bail out the debt-laden country.

On the New York Mercantile Exchange, June crude settled up $1.42, or $1.7 percent, at $85.12, highest since April 15's $85.51. It traded from $82.92 to $85.1.

CBOT-CHICAGO, April 23 (Reuters) - Chicago Board of Trade grains and soy complex close on Friday.

CBOT-SOYBEANS - May down 4-1/4 cents at $10.00 per bushel; new-crop November down 6 at $9.79. Profit-taking after the strong rally to a three-month high on Thursday weighs on soybean futures.

CBOT-SOYOIL - May up 0.26 cent at 39.35 cents per lb. Unwinding of meal/oil spreads lifts soyoil and weighs on soymeal. Turnaround in crude oil also supportive to prices.

FCPO-KUALA LUMPUR, April 23 (Reuters) - Malaysian palm oil futures climbed 2 percent on Friday to hit one-week highs as rising vegetable oil markets and expectations of improving export data lifted prices.

Cargo surveyors are due to report April 1-25 exports for Malaysia on Monday. Shipments have slowed a downward trend, falling just 9 percent for April 1-20 from a month ago compared to declines of about a third in the first ten days of the month.

The benchmark July crude palm oil futures on Bursa Malaysia Derivatives settled up 50 ringgit to 2,540 ringgit ($793.2) per tonne, a level unseen since April 14. Overall traded volume shot up to 15,169 lots of 25 tonnes each from the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, April 23 (Reuters) - Thai stocks ended almost 1 percent lower on Friday because of escalating political violence, while other markets in Southeast Asia were narrowly mixed, with some heavyweight stocks in demand after good quarterly results.

Singapore <.FTSTI> and the Philippines <.PSI> eked out gains of 0.2 percent while Malaysia <.KLSE> and Indonesia <.JKSE> were marginally lower. Vietnam was closed for a national holiday.

Singapore's Keppel Corp , the world's largest rig builder, rose 0.9 percent after reporting a better-than-expected 13 percent jump in first-quarter net profit, thanks to a strong property business.

In Kuala Lumpur, Maybank was down 0.4 percent and Sime Darby lost 1 percent. Bucking the trend, shipper MISC rose 2.3 percent after an analyst's upgrade.

FCPO Weekly: Immediate technical outlook remains weak

Weekly technical outlook remains weak despite prices close at the weekly high. We continue to look for the upside resistance at 2722-2726 while downside support lies at 2400-2393 levels.Violation of either way may provide a clearer direction to market.

FKLI Weekly: Maintain in upward posture

Market remains its upward posture with upside resistance maintain at 1350.5 and downside support still pegged at 1310-1300.

Breaking News-RTRS-Hwang DBS raises palm oil forecasts, eyes currency impacts

KUALA LUMPUR, April 22 (Reuters) - Hwang DBS raised its crude palm oil price assumptions for 2010 to 2,460 ringgit ($769.2) from 2,380 ringgit on lower inventories.
But the rise was weak as the investment bank also priced in palm oil's narrower discount to rival soyoil. Here are some highlights on the impact of various currencies on palm oil: * Stronger yuan should make palm and soybean oils cheaper in China. But as imported soybeans are already cheaper; a yuan revaluation may prompt measures to protect domestic interests to keep domestic prices from dropping too much.

Breaking News-RTRS-China threatens retaliation in Argentina trade dispute-Xinhua

BEIJING, April 22 (Reuters) - A senior Chinese trade official said China has no choice but to consider retaliatory measures against Argentina, accusing the South American country of growing trade protectionism toward Chinese products, the official Xinhua news agency reported.
China's imports of Argentine soyoil would not be normalised unless Argentine exporters "increase the quality and safety of the product," Xinhua quoted Vice-Commerce Minister Jiang Yaoping as saying in Buenos Aires.
According to the report, Jiang said China had not set up trade barriers against Argentine products, but because of external and internal pressures resulting from protectionist moves by the South American country, China "will have no alternative other than to consider countermeasures".

Breaking News-RTRS-US Census crush data lifts nearby CBOT soy futures

CHICAGO, April 22 (Reuters) - Bullish monthly data on soy processing from the U.S. Census Bureau showing stronger-than-expected usage helped lift soybean and soymeal futures on the Chicago Board of Trade, analysts said Thursday.
The Census Bureau reported that U.S. processors crushed 156.14 million bushels of soybeans during March, up from 144.42 million a year earlier.
The crush figure was slightly above the average estimate among analysts surveyed by Reuters of 154.9 million, and pointed to tightening stocks of U.S. soybeans at the end of the 2009/10 marketing year on Aug. 31.

Trader's Highlight

DJI-NEW YORK, April 22 (Reuters) - U.S. stocks staged a late-day comeback on Thursday as strong quarterly profits from consumer bellwethers like Starbucks Corp outweighed worries about Greece's shaky finances.

First-quarter earnings are on track to set a record for the percentage of companies beating estimates. Eighty-five percent of the 98 S&P 500 companies that have reported so far have beaten estimates, well above the 61 percent in a typical quarter, according to Thomson Reuters.

The Dow Jones industrial average <.DJI> climbed 9.37 points, or 0.08 percent, to 11,134.29. The Standard & Poor's 500 Index <.SPX> rose 2.73 points, or 0.23 percent, to 1,208.67. The Nasdaq Composite Index <.IXIC> gained 14.46 points, or 0.58 percent, to 2,519.07.

NYMEX-NEW YORK, April 22 (Reuters) - U.S. crude oil futures reversed course in late trading and ended higher on Thursday, as U.S. equities regained composure also late in the day as higher quarterly earnings reinforced optimism about the economic recovery.

Prices were down most of the day on concerns about Greece's fiscal problems, which had sparked flight from commodities and equities to safer havens such as the dollar.

The late recovery in the energy markets followed losses on Wednesday arising from a government inventory report showing crude stockpiles rose last week, defying forecasts for a slight drop.

On the New York Mercantile Exchange, crude for June delivery ended up 2 cents, or 0.02 percent, at $83.70 a barrel, recovering from a session low of $81.73. The day's top hit $84.07.

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

CBOT-SOYBEANS - May up 8-3/4 cents at $10.04-1/4 per bushel; new-crop November up 8 at $9.85. Rallied on technical buying, including short-covering, but spot May encounters resistance above $10 and stays below Wednesday's three-month high of $10.05.

CBOT-SOYOIL - May up 0.19 cent per lb at 39.09 cents per lb. Gains with soybeans.

FCPO-KUALA LUMPUR, April 22 (Reuters) - Malaysian palm oil futures ended higher on Thursday on stronger vegetable oil markets, although some investors were still cautious on the ringgit currency.

The Malaysian ringgit erased most of its earlier losses as exporters bought the local currency for settlements, weighing on palm oil as the higher ringgit makes the commodity expensive for refiners.

The benchmark July crude palm oil futures on Bursa Malaysia Derivatives Exchange settled up 0.8 percent, or 19 ringgit, to 2,490 ringgit ($778.6) per tonne. Overall traded volume stood at 11,918 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, April 22 (Reuters) - Optimism over first-quarter earnings pushed regional markets higher on Thursday, even Thailand finishing higher after a volatile session as investors bought banks and electronics firms despite political uncertainty.

Singapore <.FTSTI>, Malaysia <.KLSE> and Indonesia <.JKSE> rose between 0.25 and 0.50percent, while Vietnam <.VNI> rose almost 2 percent.

In Singapore, the largest real estate investment trust CapitaMall Trust rose 2.2 percent and bourse operator Singapore Exchange gained 2.5 percent after both
reported favourable quarterly results in recent sessions.

In Kuala Lumpur, contract manufacturer Unisem rose 5.8 percent and Globetronics gained 4.6 percent on expectations chip makers would deliver strong results, following Intel's stunning performance last week.

FCPO Daily: Getting closer to 2500 but yet to break through

Market getting closer to 2500 levels again but yet to break through. Market maintain its sideways to lower posture in near term. Thus, we are looking to for the immediate upside resistance 2500-2504 (left over gap since 19/4/2010)followed by 2525-2530. While, downside support is lies at 2455-2460 followed by 2440-2430.

FKLI Daily: Defended

Market defended well following prices manage to bounce back to close at intra-day high. However, it was not convincing enough to change the immediate daily technical outlook. Thus, correction mode is likely to continue in near term. As for now, we are looking for the immediate upside resistance at 1345-1350.5. While, immediate downside support is lies at 1327-1326 followed by 1320-1310 levels.