RTRS- INDIA'S PEC TENDERS TO BUY 23,400 T RBD PALM OLEIN VEGETABLE OIL -TRADE

HAMBURG, Feb 14 (Reuters) - Indian state trading company PEC has issued an international tender to buy 23,400 tonnes of palm olein vegetable oil, European traders said on Tuesday.

The refined, bleached and deodorised (RBD) oil was for shipment between Mar. 1-31 in three consignments.

The oil should come from Indonesia or Malaysia. Bidding deadline is Friday, Feb. 17.

RTRS-Eurogroup drops face-to-face bailout talks as Greeks argue

BRUSSELS/ATHENS, Feb 14 (Reuters) - Euro zone finance ministers dropped plans on Tuesday for a special face-to-face meeting on Greece's new international bailout, saying political party chiefs in Athens had failed to provide the required commitment to reform.

A source familiar with negotiations on Greece's 130 billion euro rescue also said conservative leader Antonis Samaras had yet to sign a commitment to implement the deeply unpopular package - a condition set by the EU/IMF lenders who are weary of broken Greek promises on economic reform and budget cuts.

Ministers in the Eurogroup had been expected to gather in Brussels on Wednesday for a meeting which, if all had gone to plan, would have approved the bailout and saved Greece from a messy bankruptcy next month.

However, with the European Union's patience with Greece close to breaking point, Eurogroup Chairman Jean-Claude Juncker said the ministers would hold only a telephone conference call before a regular meeting already scheduled for Feb. 20.

RTRS- OIL WORLD CUTS BRAZILIAN 2012 SOYBEAN CROP FORECAST BY 0.5 MLN T, PARAGUAY'S BY 1.4 MLN T

HAMBURG, Feb 14 (Reuters) - German Oilseeds analyst Oil World has cut its forecast of 2012 soybean crops in Brazil and Paraguay following drought in the two countries but raised its forecast for Argentina, it said on Tuesday.

Oil World said it had cut its forecast of Brazil's 2012 soybean crop to 69.5 million tonnes from 70 million tonnes estimated on Jan. 31 and 72.8 million it forecast in December.

Lack of rain means Brazil's crop would be well down on the 75.3 million tonnes it harvested in 2011.

Oil World also cut its forecast of Paraguay's soybean crop to 4.6 million tonnes from 6.0 estimated on Jan. 31 and 8.3 million tonnes harvested last year. The forecast cut was also made because of drought.

It raised its forecast of Argentina's 2012 soybean crop to 47.0 million tonnes from 46.5 million tonnes forecast on Jan. 31 and 52.0 million tonnes forecast in December.

This would still be down on the 49.2 million tonnes harvested in 2011 in Argentina.
Recent rain had helped Argentine soybeans, Oil World said.

The United States is the world's largest soybean exporter, Brazil the second and Argentine the third. Paraguay is a smaller exporter but its volumes are important to world markets.

Trader's Highlight

DJI- NEW YORK, Feb 14 (Reuters) - U.S. stocks erased losses to end little changed on Tuesday after a Greek government source said the conservative party leader was expected to deliver a letter of commitment to the country's international lenders.

A sign of Greece's commitment to the tough austerity measures demanded by euro zone leaders was a catalyst for buyers to jump into the stock market late in the session.

Euro zone finance ministers are due to hold a telephone conference call on Wednesday about a 130 billion euros bailout to avert a chaotic Greek default.

The Dow Jones industrial average gained 4.24 points, or 0.03 percent, to 12,878.28. The Standard & Poor's 500 Index dropped 1.27 points, or 0.09 percent, to 1,350.50. The Nasdaq Composite Index edged up 0.44 points, or 0.02 percent, to 2,931.83.

NYMEX- NEW YORK, Feb 14 (Reuters) - U.S. crude oil futures fell on Tuesday on weaker-than-expected U.S. retail sales for January, Greek debt worries and concerns about Europe's economy after Moody's warned it may cut the triple-A ratings of France, Britain and Austria.

Losses were limited by news that a Canadian oilsands processing plant that sends output to the U.S. Midwest would be shut longer than initially thought. Rising geopolitical tensions in the Middle East also lent underlying support.

In post-settlement trading, NYMEX crude futures shifted slightly higher. But after weekly inventory data from the American Petroleum Institute showed that domestic crude stocks rose more than forecast, prices dipped to negative territory before heading to just above flat.

On the New York Mercantile Exchange, crude for March delivery settled at $100.74 a barrel, dipping 17 cents,or 0.17 percent, after trading between $100.28 to $101.84.

CBOT SOYBEANS- Soybean futures on the Chicago Board of Trade rose for a third straight session, nearing a four-month high on dry weather stressing crops in southern Brazil and signs of fresh U.S. export demand, traders said.

March soybeans reached a peak of $12.61-3/4, the highest spot price on the continuous chart since Oct. 17, 2011.

Market shrugs off pressure from a rally in the dollar and declines on Wall Street as disappointing January U.S. retail sales data curbed investors' appetite for risky assets.

USDA confirmed sales of 283,000 tonnes of U.S. soybeans to unknown destinations, including 215,000 for 2011/12 delivery and 68,000 for 2012/13. The report followed sales of 120,000 tonnes of U.S. soy to unknown destinations announced on Monday.

FCPO- SINGAPORE, Feb 14 (Reuters) - Malaysian crude palm oil futures rose to more-than-a-month high on Tuesday, tracking a rally in U.S. soybeans on investor concern that hot, dry weather in South America could hurt production.

A weaker ringgit currency against the U.S. dollar also raised demand prospects for crude palm oil as the ringgit-priced feedstock now seems cheaper, helping the vegetable oil erase earlier losses to trade marginally higher this year.

"External factors are still uncertain and we will have to look at export numbers to see if the market will breach 3,200 ringgit," said a trader with a foreign commodities brokerage in Kuala Lumpur, referring to Malaysian export data for Feb. 1-15 which will be released on Wednesday.

Benchmark April palm oil futures on the Bursa Malaysia Derivatives Exchange settled up 1.2 percent to 3,205 ringgit ($1,053), a level last seen on Jan. 12. Traded volumes stood at 25,490 lots of 25 tonnes each, slightly higher than the usual 25,000 lots.

REGIONAL EQUITY- Feb 14 (Reuters) - Stocks in Singapore and Malaysia inched up while Indonesian and Philippine shares retreated on Tuesday as market players took profits amid concerns about the sovereign debt crisis in Europe.

Investors in the region were cautious after Moody's warned it could downgrade top-rated sovereigns including Britain, reminding investors that Europe is still deeply mired in a debt crisis despite Athens' steps to avoid a disorderly default.

Blue chips that had led recent gains across the region such as Singapore Telecommunications Ltd , Thai Oil Pcl and Philippine Long Distance Telephone Co were among the stocks that fell on Tuesday.

RTRS-Early glimpse of US crops may get second look

Feb 13 (Reuters) - A U.S. government report offering the first look at this year's crop s is expected to show farmers in the United States planting the largest area with corn since World War Two amid high prices and favorable weather.

The U.S. Agriculture Department baseline report, due out midday Monday, has historically had little impact since it is based on data from November and not on surveys from farmers that will be used for the more authoritative estimates issued in March.

The baseline projections will be updated by the USDA with more current data on prices and economic conditions at its annual Outlook conference on Feb. 23 and 24.

Grain traders are keeping an eye on the baseline report this year -- not because they expect it to be a better yardstick for the crop, but because they believe hedge funds and other new investors may still use it as a trading point.

Forecasts for big crops of corn, wheat and soybeans in the world's top food producing nation will help bolster expectations that global grain stocks will rise this year and quell any inflationary spike in prices .

Farmers are expected to plant 94.2 million acres with corn because of highly profitable corn prices and due to a mild and dry winter likely spurring an early sowing season. Soybean plantings are expected to rise slightly from last year.

RTRS-Greece still to convince Europe over rescue deal

ATHENS/BRUSSELS, Feb 13 (Reuters) - Europe gave Greece until Wednesday to convince sceptical international creditors that it would stick to the punishing terms of a multi-billion-euro rescue package, endorsed by parliament as rioters torched downtown Athens.

Lawmakers backed drastic cuts in wages, pensions and jobs on Sunday as the price of a 130 billion euro ($170 billion) bailout by the European Union and International Monetary Fund to avert a messy default that would send shockwaves through the euro zone.

Scenes of running battles between police and rioters and flames engulfing cinemas, shops and banks underscored a sense of deepening turmoil in the country after more than four years of recession and two of punishing austerity.

The EU warned on Monday that the consequences of failure would be "devastating".

It gave the fragile ruling coalition of Prime Minister Lucas Papademos until Wednesday, when euro zone finance ministers are expected to meet, to specify how 325 million euros of the 3.3 billion euros demanded in budget savings will be achieved.

By the same deadline, Greek political leaders must give a written commitment to implement the terms of the deal, a Greek government spokesman said, reflecting fatigue among EU leaders who say they have heard enough broken promises.

Trader's Highlight

DJI-NEW YORK, Feb 13 (Reuters) - World stocks rose on Monday after Greece's parliament passed drastic austerity measures to avoid a chaotic debt default, but doubts over whether Athens will be able to live up to its promises and secure a new rescue package killed an initial rally in the euro.

U.S. crude oil prices closed more than 2 percent higher after Greece on Sunday approved sweeping budget cuts in exchange for a 130 billion euro bailout from the European Union and the International Monetary Fund.

But concerns emerged over whether the country will be able to fulfill its tough austerity promises, keeping demand steady for safe-haven U.S. Treasuries and driving the euro lower.

Unrest in the streets of Athens and a voting rebellion by lawmakers of the ruling coalition suggested Greece may be on the brink of massive social unrest, which would make it difficult for Athens to stick to the rescue terms.

The Dow Jones industrial average <.DJI> ended 72.81 points, or 0.57 percent, higher at 12,874.04, while the Standard & Poor's 500 Index <.SPX> rose 9.13 points, or 0.68 percent, to 1,351.77. The Nasdaq Composite Index <.IXIC> gained 27.51 points, or 0.95 percent, to 2,931.39.

NYMEX- NEW YORK, Feb 10 (Reuters) - U.S. crude oil futures ended higher on Monday, posting its biggest one-day gain in six weeks, a day after Greece's parliament adopted austerity measures the country needs to secure a second debt bailout package and avoid ruinous default.

Trading on the New York Mercantile Exchange's Globex electronic platform was marred by a halt shortly after 2 p.m. EST (2000 GMT) due to technical problems. Globex trading resumed at 3:15 p.m.

While Greece's action somewhat calmed markets worried about the economic health of the euro zone, it sparked unrest in the streets in Athens and a voting rebellion by lawmakers of its ruling coalition.

Europe gave Greece until Wednesday to convince international creditors that it would stick to the highly unpopular terms of the rescue package.

Middle East tensions were also supportive for crude futures.

On the New York Mercantile Exchange, crude for March delivery settled at $100.91 a barrel, gaining $2.24, or 2.27 percent, the biggest one-day percentage gain since Jan. 3. The contract fell $1.17 on Friday.

CBOT SOYBEANS- Soybean futures on the Chicago Board of Trade ended higher as the dollar fell, encouraging investors to buy risky assets including grains and crude oil, and as worrisome crop weather in Brazil lent further support.

Buy-stops triggered in the closing minutes as March soybeans broke through resistance at $12.50 a bushel and climbed to $12.54, highest spot soy price since Oct. 19, 2011.

Heavy trade in soybean futures with volume roughly 45 percent above the prior 30-day average.

The dollar eased after Greece's parliament approved strict financial reforms needed to obtain an international bailout package. But the government remains under pressure to convince a skeptical euro zone that it will abide by the terms of the
package.

FCPO- SINGAPORE, Feb 13 (Reuters) - Malaysian crude palm oil futures rose to near three-week high on Monday after Greecem passed an unpopular austerity bill that could help avoid a messy default.

The Greek parliament approved on Monday the deeply unpopular austerity bill, injecting some much-needed optimism into the market and helping to lift financial markets, including palm oil that has lost 0.2 percent so far this year.

But market players were also concerned about prospects of slowing demand for palm oil especially as the tropical oil enters a period of recovering production.

Benchmark April palm oil futures on the Bursa Malaysia Derivatives Exchange were up 1.2 percent to close at 3,168 ringgit ($1,048) per tonne. Prices earlier hit an intraday high of 3,171 ringgit, a level last seen since Jan. 25. Traded volumes stood at 22,750 lots of 25 tonnes each, slightly thinner than the usual 25,000 lots.

REGIONAL EQUITY- Feb 13 (Reuters) - Most Southeast Asian stock markets posted limited gains on Monday following the passage of Greece's austerity bill and amid selective buying of dividend yielding shares and stocks that have strong earnings prospects.

Market players picked bluechips such as Singapore Telecommunications Ltd, Indonesia's PT Astra International Tbk and Philippine Long Distance Telephone Co , among last week's beaten-down stocks.

Greece approved a deeply unpopular austerity bill to help secure a second bailout, even as riots in central Athens and violence across the country raised doubts about implementation of the approved spending cuts.

Investors appeared reluctant to buy riskier assets, awaiting further steps needed before the shadow of a debt default can be lifted. Regional indexes were largely capped in range, with turnover for most markets falling short of a 30-day average.

Some brokers said markets remained hopeful the Greece deal could be wrapped up successfully.
Singapore Telecommunications gained 1.95 percent after it comforted investors by reiterating a forecast for low single-digit full-year revenue growth in Singapore and stable dividends from its associate firms.

RTRS-Malaysia's Jan palm oil stocks fall to five-month low

KUALA LUMPUR, Feb 10 (Reuters) - Malaysia's January palm oil stocks slipped to a five-month low as a decline in production outpaced a drop in exports, industry regulator Malaysian Palm Oil Board said on Friday.

Stocks in the world's No. 2 producer of the edible oil fell 2.5 percent to 2.0 million tonnes from December last year, almost matching market expectations of a 2.2 percent drop.

The still-high inventories can potentially shore up global edible oil supply in the wake of erratic weather affecting soy crops in south America. Benchmark palm oil futures <0#FCPO:> on the Bursa Malaysia Derivatives Exchange may come under some pressure after losing 0.8 percent at midday ahead of the data release.

RTRS-INDIA'S JAN PALM OIL IMPORTS SEEN UP 3.1 PCT VS DEC, SOYOIL IMPORTS SEEN UP

NEW DELHI, Feb 10 (Reuters) - India's palm oil imports may have risen in January over the previous month as domestic supplies run out, a Reuters survey showed on Friday, but the imports could fall this month with start of the rapeseed harvest season.

Palm oil imports -- the bulk of India's edible oil purchases -- rose 3.1 percent last month to 569,750 tonnes, according to the survey of eight traders, with soyoil imports seen up 360.3 percent to 34,000 tonnes over December.

India mainly buys palm oils from Indonesia and Malaysia, and small quantities of soyoil from Argentina and Brazil. About half of India's 15-16 million tonnes of edible oils demand is met through imports.

The survey suggested total vegetable oil imports, including non-edible oils, would rise 6.6 percent in January to 714,375 tonnes from the previous month.

RTRS-IRAN HAS NOT APPROACHED MALAYSIA FOR BARTER DEALS TO SAFEGUARD PALM OIL SUPPLIES-MALAYSIA GOV'T SOURCES

KUALA LUMPUR, Feb 10 (Reuters) - Iran has not approached Malaysia for barter deals to keep its palm oil supplies flowing as Western financial sanctions hurt it ability to pay for imported food staples, two Malaysian government sources told Reuters on Friday.

One of the sources said Malaysia is no longer keen to do barter trades after facing problems in a deal with North Korea in 2009 when $20 million worth of palm oil was to be exchanged for cash and fertiliser components.

"No matter how you do it, these countries don't have enough to barter. So Malaysia is not going to do barter trades for the time being," said the source, who had direct knowledge of the matter.

"We are more concerned if there are declines in exports in our top markets like India and China rather than Iran," the source added, declining to be identified due to the sensitivity of the issue.

RTRS-China Jan soy imports down 15 pct vs Dec - customs

BEIJING, Feb 10 (Reuters) - China, the world's top soy buyer, imported 4.61 million tonnes of the oilseed in January, down 15 percent from 5.42 million tonnes in December, as crushers reduced imports during a holiday shutdown, figures from the General Administration of Customs of China showed on Friday.

On an annual basis, soy imports fell 10.2 percent in January, largely due to seasonal factors as the Lunar New Year fell in January this year but in February last year. Soy plants across the country typically close during the week-long holiday.

The seasonal distortion makes the January data particularly hard to read but after stripping away the week-long Lunar New Year holiday, average weekly import volumes in January rose 13 percent from the preceding month.

Demand for soy, used as a cooking oil and feedstock for pigs, typically jumps ahead of festive seasons, but confronted by climbing stocks and a post-holiday demand lull, analysts said imports could weaken in February before rebounding in March as farmers start to restock hogs.

"Global soybean prices are also on the high side, which should prevent China from going all out with imports in the coming weeks," said Ker Chung Yang, an analyst at Phillip Futures in Singapore.

Trader's Highlight

DJI- NEW YORK, Feb 10 (Reuters) - The S&P 500 posted its biggest daily percentage decline thus far in 2012 on Friday after an about-face on Greece's long-awaited debt deal ended a five-week streak of gains for equities.

All but one of the 30 Dow components ended lower while all 10 S&P sectors fell, with cyclical sectors such as energy, financials and materials the biggest losers.

The Dow Jones industrial average was down 89.23 points, or 0.69 percent, at 12,801.23. The Standard & Poor's 500 Index was down 9.31 points, or 0.69 percent, at 1,342.64. The Nasdaq Composite Index was down 23.35 points, or 0.80 percent, at 2,903.88.

NYMEX- NEW YORK, Feb 10 (Reuters) - U.S. crude oil futures fell on Friday for the first time in four sessions after a far-right party in Greece refused to sign off on austerity measures, denting the country's efforts to secure an EU-IMF bailout package to avoid a crippling debt default.

But late in the day, the Greek cabinet approved a draft bill commiting Greece to reforms the EU and the IMF require in return for the bailout package. A parliamentary vote was set for Sunday, keeping hopes alive that the country would not fall into default.

On the New York Mercantile Exchange, crude for March delivery settled at $98.67 a barrel, falling $1.17, or 1.17 percent. For the week, U.S. front-month crude rose 83 cents, or 0.85 percent from the $97.84 close on Feb. 3.

CBOT SOYBEANS- Soybean futures on the Chicago Board of Trade closed firm on Friday after spending most of the session in the red, with the market rallying into the closing bell on a late flurry of buying.

Traders attributed the late-day rally variously to worries about hot and dry conditions in southern Brazil, traders buying soybeans against corn on intermarket spreads, and talk of Brazil increasing its biodiesel mandate later this year.

Soyoil gained relative to soymeal. Soybeans and other commodities were pressured for most of the session by a surge in the U.S. dollar as the euro fell after another snag in negotiations for a financial bailout package for Greece.

CBOT soybeans unofficially ended the week down 0.3 percent, snapping a three-week advance.

FCPO- SINGAPORE, Feb 10 (Reuters) - Malaysian crude palm oil fell on Friday on the back of a bearish U.S. crop report and prospects of slowing demand, although losses were capped by a long-awaited bailout deal for Greece which has yet to be
approved.

The U.S Department of Agriculture on Thursday forecast larger-than-expected soybean supplies in its monthly report even as a severe drought curbed yields in Brazil and Argentina, putting pressure on palm oil prices, which track soybean oil closely.

The market's a little bearish because it expects a steeper production drop in the South American crop," said a dealer with a foreign commodities brokerage in Kuala Lumpur.

However, the low production season in the first quarter and improving demand from China and India should support crude palm oil prices in the range of 3,000 to 3,200 ringgit in the near term," added the dealer.

Benchmark April palm oil futures on the Bursa Malaysia Derivatives Exchange lost 0.5 percent to close at 3,131 ringgit ($1,034) per tonne. The futures market has lost 1.4 percent so far this year. Traded volumes were thin at 22,375 lots of 25 tonnes each, compared to the usual 25,000 lots.

REGIONAL EQUITY- BANGKOK, Feb 10 (Reuters) - Southeast Asian stock indexes were mostly weaker on Friday as investors, awaiting a rescue package for Greece, trimmed positions in risky assets.

Jakarta's Composite Index shed 1.67 percent, falling at one point to the lowest since Jan. 16. One factor dragging it down was banks, hit by Bank Indonesia's unexpected decision on Thursday to cut the benchmark interest rates.

Some analysts said the rate cut dampened margin outlooks of banks and broad sentiment of the sector. Still, there was some optimism about the selling of bank shares did not signal the end of a bull market.

In Singapore, property developer CapitaLand Ltd and commodities firm Olam International pulled back after recent gains. CapitaLand fell 3.1 percent while Olam was down 2.9 percent.

Among weak spots, palm plantation firm Sime Darby Bhd edged down 0.3 percent and Thai petrochemical firm PTT Global Chemical Pcl fell 1.4 percent. They had rallied early this week.

RTRS-Malaysian exporters halt palm oil supply to Iran -sources

KUALA LUMPUR, Feb 8 (Reuters) - Malaysian palm oil exporters have stopped supplying Iran with most of the 30,000 tonnes of the food staple the Middle Eastern country buys each month, or about half its demand, as Western financial curbs on Tehran stymie payments, two trading sources said.

The halt in Malaysia's palm oil exports to Iran, which the traders said started late last year, is the latest sign that sanctions aimed at persuading Tehran to abandon a suspected nuclear weapons programme have started to bite.

The sanctions, spearheaded by the United States and European Union, have made it difficult for Iranian palm oil buyers to use letters of credit and make payments via middlemen in the United Arab Emirates (UAE) to Malaysian exporters.

Malaysia is the world No.2 producer of palm oil, used to make products from bio-diesel to cooking oil. It is a key supplier of Iran's palm oil, along with Indonesia, the world's top producer.

"Most of the companies selling palm oil to Iran have stopped since the end of last year," one trader with direct knowledge of the deals told Reuters on Wednesday.

Trader's Highlight

DJI- NEW YORK, Feb 8 (Reuters) - U.S. stocks closed flat in another thinly traded session on Wednesday as Greece remained in a standstill over accepting tough reforms in exchange for a bailout critical to avoiding a chaotic default.

Underlying confidence kept the Dow near an almost four-year high notched on Tuesday, though trading has been quiet since last week's stellar employment report. The S&P and Nasdaq are both up 0.3 percent so far this week while the Dow is
essentially unchanged.

Greek party leaders gathered on Wednesday to agree to reforms demanded by the European Union and the Internationa Monetary Fund after delays.

European Central Bank policymakers were still divided on what contribution the bank could make to a restructuring of Greece's sovereign debt, sources said. The ECB has ruled out joining private creditors in voluntarily accepting a reduction in the value of the Greek bonds it holds.

"We would take a hit if Greece is unable to come to a deal, but lately we've been decoupling from Europe as markets catch up to how strong the economy appears to be," said Frederick.

The Dow Jones industrial average was up 5.75 points, or 0.04 percent, at 12,883.95. The Standard & Poor's 500 Index was up 2.91 points, or 0.22 percent, at 1,349.96. The Nasdaq Composite Index was up 11.78 points, or 0.41 percent, at 2,915.86.

NYMEX- NEW YORK, Feb 8 (Reuters) - U.S. crude futures rose for a second day on Wednesday, shrugging off data showing rising inventories and supported by strong gasoline futures as Brent crude pushed higher on hopes for a Greece debt deal and on
concerns about Iran.

Brent crude oil futures rose for the seventh straight day and posted their highest close in more than six months.

On the New York Mercantile Exchange, March crude rose 30 cents, or 0.3 percent, to settle at $98.71 a barrel, having traded from $98.10 to $99.01.

CBOT SOYBEANS- Soybean futures on the Chicago Board of Trade closed lower in seesaw trade as brokers adjusted positions a day ahead of the U.S. Department of Agriculture's monthly crop reports, traders said.

Soybeans erased early gains after the dollar turned higher-- a bearish signal for dollar-backed U.S. grains and oilseeds-- and U.S. crude oil futures pared early advances.

March soybean futures matched their Jan. 3 high of $12.44-3/4 in overnight Globex trade but failed to break through resistance and move higher.

Additional pressure from much-needed rains that fell in the last day in Argentina, bolstering soybean yield prospects. Up to 3.5 inches fell in parts of Buenos Aires, said Drew Lerner of U.S.-based World Weather Inc.

USDA in its February crop and supply/demand reports is expected to show a small reduction in U.S. soy ending stocks and lower its estimates of South American corn and soybean production.

FCPO- SINGAPORE, Feb 8 (Reuters) - Malaysian crude palm oil jumped to a near three-week high on Wednesday as the market reopened after a two-day break, tracking broader markets, such as soyoil, ahead of a key U.S. crop report on Thursday.

The U.S. soyoil contract for March on the Chicago Board of Trade has gained 1.8 percent this week on prospects of higher demand, setting the stage for a palm oil rally.

Investors are keeping an eye on the February crop production as well as the supply and demand reports set to be issued by the U.S Department of Agriculture on Thursday.

Benchmark April palm oil futures on the Bursa Malaysia Derivatives Exchange gained 2.3 percent to close at 3,155 ringgit ($1,051) per tonne, but off the earlier high of 3,158 ringgit, a level last seen on Jan. 26. Traded volumes stood at 24,972 lots of 25 tonnes each, just slightly thinner than the usual 25,000 lots.

REGIONAL EQUITY- BANGKOK, Feb 8 (Reuters) - Southeast Asian stock indexes rose on Wednesday as strong oil and metal prices bolstered commodities-related shares, and on hopes the Greece would agree to a reform deal that would open the way for a new
international rescue package.

Shares of Golden Agri climbed 2.6 percent to their highest in more than one year, Sime Darby rose 2.3 percent to the highest in almost three years, Indorama surged 10.07 percent to five-month highs.

RTRS-China to step up palm oil purchases - Oil World

HAMBURG, Feb 7 (Reuters) - China is likely to import more palm oil in coming months to meet rising demand for edible oil in its growing economy, although soyoil imports will remain at last season's levels, Hamburg-based oilseeds analysts Oil World forecast on Tuesday.

China's October 2011/September 2012 palm oil imports are likely to rise by 0.75 million tonnes on the year to 6.7 million tonnes, it said.

"Imports of soyoil will probably not change much and stay close to last season's low of 1.32 million tonnes due to insufficient world supplies," it said.

Oil World forecasts China's 2011/12 soyoil imports will be only marginally higher on the year at 1.35 million tonnes.

Drought in major soybean producers Argentina and Brazil could cut their export supplies of both soybeans and soyoil this year, it said.

China's rapeseed/canola oil imports rise to 0.87 million tonnes in 2011/2012 from 0.69 million tonnes, it added.

RTRS-POLL-U.S. farmers seen adding corn, soy acres in 2012

CHICAGO, Feb 7 (Reuters) - U.S. farmers are expected to plant the most acres to corn this spring since 1944, while soybean seedings are expected to expand slightly in the world's largest grower of both crops.

A Reuters poll of 24 analysts showed the average estimate for 2012 corn plantings at 94.2 million acres, more than 2 million acres above the 2011 total of 91.9 million. For soybeans, the average estimate was for 75.3 million acres, up from 75.0 million planted to soy in 2011.

The U.S. Department of Agriculture is scheduled to release its first official forecasts of U.S. 2012 corn and soybean seeding intentions in its "Prospective Plantings" report on March 30. The agency will release its 10-year "baseline" agricultural projections on Feb. 13.

RTRS-ANALYSIS-China eyes U.S. soy as drought shrivels LatAm crop

SINGAPORE/BEIJING, Feb 6 (Reuters) - China, the world's biggest food shopper, is likely to buy more U.S. soybeans this quarter, as a withering drought is expected to cut the South American harvest, pushing soy prices up to fresh highs.

Benchmark Chicago soy has risen for three weeks on the relentless southern hemisphere summer, and analysts say prices could head higher, with U.S. stockpiles seen shrinking as China locks in supplies after the Lunar New Year break.

China imports 60 percent of soybeans shipped around the world, with the bulk of its purchases coming from the United States and Brazil, the world's top exporters.

Trader's Highlight

DJI- NEW YORK, Feb 7 (Reuters) - U.S. stocks rose slightly on Tuesday, but with the outcome of discussions on a bailout package for Greece uncertain, investors are unlikely to make big bets in coming days.

The S&P has gained almost 7 percent in 2012 on better-than-expected economic figures, boosting bellwethers such as Microsoft Corp to yearly highs and Apple Inc.

The Dow Jones industrial average <.DJI> was up 33.07 points, or 0.26 percent, at 12,878.20. The Standard & Poor's 500 Index <.SPX> was up 2.72 points, or 0.20 percent, at 1,347.05. The Nasdaq Composite Index <.IXIC> was up 2.09 points, or 0.07
percent, at 2,904.08.

NYMEX- NEW YORK, Feb 7 (Reuters) - U.S. crude oil futures bounced back to gain more than 1.5 percent on Tuesday amid volatile transatlantic spread play and on news of a two- to three-week shutdown of an Alberta plant that processes Canadian
oil sands.

Trading volume was heavy. At the close of electronic trading at 5:15 p.m. EST (2215 GMT) crude futures volume on New York Mercantile Exchange hit more than 1.1 million contracts, 91 percent above the 30-day average, according to Reuters data. The record is 1.43 million contracts set on April 13, 2010.

On the New York Mercantile Exchange, crude for March delivery settled at $98.41 a barrel, rising $1.50, or 1.55 percent.

CBOT- Chicago Board of Trade soybean futures closed lower on improved crop weather in South America and on positioning ahead of the release on Thursday of USDA's February crop production and supply/demand reports.

Occasional showers continued to dot key South American soy- and corn-growing areas, providing relief to the pod-setting soy but the rainfall was too late to revive the corn crop in Argentina that was harmed by hot and dry weather.

A turn to dry weather in Argentina for the next seven days should not cause any problems for crops. "Argentina will be dry for a while but they've had decent rains for the past couple of weeks," said John Dee, meteorologist for Global Weather
Monitoring.

Declines were slowed by a weak dollar. The euro gained after a Greek official said the country's government was drafting an agreement on a bailout deal that would be put before political leaders for approval later in the day.

FCPO- SINGAPORE, Feb 3 (Reuters) - Malaysian crude palm oil closed higher on last minute short-covering on Friday ahead of a long weekend holiday, reversing earlier losses caused by a stronger ringgit currency that has hurt refiner margins as
demand slows.

The ringgit has strengthened around 5 percent against the dollar in 2012, making it more expensive for refiners to buy ringgit-priced feedstock to process.

The market was on the lookout for a possible announcement next week on Malaysia's crude palm oil quota that has been delayed since December, which hampered export licence holders' ability to supply overseas refiners with cheap feedstocks.

Benchmark April palm oil futures on the Bursa Malaysia Derivatives Exchange ended up 1 percent to close at 3,085 ringgit ($1,025) per tonne. The futures market has lost 2.8 percent so far this year.

Traded volumes stood at 19,683 lots of 25 tonnes each, thinner than the usual 25,000 lots ahead of a long weekend holiday.

REGIONAL EQUITY- Feb 7 (Reuters) - Stocks in the Philippines and
Indonesia fell while Singapore and Thai shares posted limited
gains on Tuesday amid mild selling pressure as caution about the
euro zone crisis set in due to dragged-out Greek
debt-restructuring talks.

Greek resistance to the strict conditions attached to a bailout fund sapped recent momentum across Asia that has been spurred by hopes the global economy is improving.

In a choppy session, Singapore's Straits Times Index <.FTSTI> edged up 0.6 percent, Vietman's Ho Chi Minh Stock Exchange index <.VNI> gained 0.34 percent and Thai SET index <.SETI> moved up 0.57 percent by 0905 GMT.

Malaysia's stock market was shut on Tuesday for religious festivals and will reopen on Wednesday.

Trader's Highlight

DJI- NEW YORK, Feb 2 (Reuters) - Investors largely took a wait-and-see approach on Thursday as U.S. stocks ended little changed ahead of Friday's key employment report, but tech shares rose after strong earnings from chipmaker Qualcomm.

Recent economic data suggesting the economy is on a slow but steady path to recovery has helped fuel a rally in stocks. Friday's nonfarm payrolls report, which is expected to show the improving labor market trend remained intact in January, will be
a key test of the rally.

The optimism over the labor market was reinforced as new claims for jobless benefits dropped more than expected in the latest week, according to data released on Thursday.

The Dow Jones industrial average <.DJI> dropped 11.05 points, or 0.09 percent, to 12,705.41. The Standard & Poor's 500 Index <.SPX> gained 1.45 points, or 0.11 percent, to 1,325.54. The Nasdaq Composite Index <.IXIC> rose 11.41 points, or 0.40
percent, to 2,859.68.

NYMEX- NEW YORK, Feb 2 (Reuters) - U.S. crude futures fell on Thursday, dropping to a six-week low as Wednesday's data showing rising crude oil and gasoline stockpiles and weak demand continued to generate bearish sentiment.

U.S. crude stockpiles have risen sharply for two consecutive weeks, according to government data, and the latest increase in the week to Jan. 27 was more than 4 million barrels as gasoline demand languishes below year-ago levels. [EIA/S]

Brent crude found support from cold weather in Europe and geopolitical concerns including the West's contentious standoff with OPEC-member Iran over Tehran's nuclear program.

On the New York Mercantile Exchange, March crude fell $1.25, or 1.28 percent, to settle at $96.36 a barrel, ending back above the contract's 200-day moving average of $96.22 after trading from $95.44 to $97.99. The low was the lowest intraday price since Dec. 20.

CBOT SOYBEANS, Chicago Board of Trade soybean futures closed higher for the third day in a row due to tight supplies of crops in the cash market, traders said.

Bearish outside markets such as a firm dollar and weak crude oil market limited gains in soybeans.

Soymeal and soyoil futures also closed slightly higher. Trading was choppy, with soybeans trading in both positive and negative territory during the session.

The U.S. Agriculture Department said on Thursday morning that weekly export sales of soybeans were 368,400 tonnes, near the low end of forecasts for 350,000 to 550,000 tonnes.

China will sign soybean import deals during a U.S. trip by Vice President Xi Jinping this month, but volumes are seen falling short of the biggest ever one-off deal signed a year ago.

Goldman Sachs raised its three-, six- and 12-month price forecasts for
CBOT soybeans to $12.90 per bushel from its previous projection of $12.15 due to
tight U.S. supplies and smaller-than-expected South American crops.

FCPO- SINGAPORE, Feb 2 (Reuters) - Malaysian crude palm oil touched a new six-week low on Thursday as the ringgit currency strengthened against the U.S. dollar, making it expensive for refiners to buy feedstock to process at a time when demand has
slowed.

Losses were capped earlier before the midday break by upbeat global manufacturing data from the United States, China and Germany that helped to ease worries on slowing growth. Palm oil markets, however, are still down almost 4 percent this year.

The ringgit is the second best performing currency in Asia, logging a rise of close to 5 percent in 2012. Any further appreciation in the ringgit could squeeze margins for Malaysian refiners who are losing market share to Indonesia.

Benchmark April palm oil futures on the Bursa Malaysia Derivatives Exchange lost 0.7 percent to 3,063 ringgit($1,007) per tonne. Prices touched a new low of 3,036 ringgit, a level last seen on Dec. 21.

Traded volumes stood at 22,712 lots of 25 tonnes each, thinner than the usual 25,000 lots, ahead of the long weekend holiday.

REGIONAL EQUITY- BANGKOK, Feb 2 (Reuters) - Southeast Asian stock markets joined others in rising on Thursday following upbeat manufacturing data from some nations that boosted hopes for global economic growth and spurred demand for regional big caps such as banks.

Optimism about global recovery appeared to ease nagging concerns about the euro zone debt crisis, sending sharemarkets to fresh peaks. The Philippine index <.PSI> hit an all-time high, while benchmarks for Singapore, Malaysia and Thailand reached their highest points in nearly six months.

Trader's Highlight

DJI- NEW YORK, Feb 1 (Reuters) - The euro rose on speculation a Greek debt deal was close at hand on Wednesday while global equity markets surged on encouraging U.S., Chinese and German manufacturing data - even though enthusiasm ebbed at the session's end.

Wall Street stocks rallied after a report showed that U.S. manufacturing activity grew at its strongest pace in seven months in January, shrugging off data suggesting Europe is struggling with fallout from its festering debt crisis.

The U.S. data helped power an almost 2 percent rise in European shares, which also got a boost from data showing that China's manufacturing output was no longer contracting.

Optimism spurred gains in U.S. industrials, financials and basic materials, which rose between 1.1 percent and 1.7 percent, on higher trading volume than has been seen in recent days.

The Dow Jones industrial average closed up 83.55 points, or 0.66 percent, at 12,716.46. The Standard & Poor's 500 Index gained 11.67 points, or 0.89 percent, at 1,324.08. The Nasdaq Composite Index climbed 34.43 points, or 1.22 percent, at2,848.27.

NYMEX- NEW YORK, Feb 1 (Reuters) - U.S. crude futures fell a fourth straight session on Wednesday as data showing larger crude oil and gasoline inventories in the United States countered support from economic data from China and ongoing tensions concerning Iran's nuclear program.

U.S. crude oil inventories rose 4.18 million barrels last week, the U.S. Energy Information Administration's weekly report said, a bigger rise than expected.

Gasoline stockpiles rose 3.02 million barrels, while distillate stockpiles fell 135,000 barrels, the EIA said. Crude stocks were expected to be up 2.4 million barrels and gasoline up by 1.0 million barrels, a Reuters survey of analysts ahead of
the weekly inventory report showed.

On the New York Mercantile Exchange, March crude fell 87 cents, or 0.88 percent, to settle at $97.61 a barrel. It traded as high as $99.49, above its 50-day moving average of $99.18, before falling as low as $97.20 in post-settlement trading.

CBOT SOYBEANS, Chicago Board of Trade soybean futures rose 1.5 percent due to rising demand on the export market and firming cash markets amid slow country movement of supplies, traders said.

The benchmark CBOT March soybean contract closed above its 100-day moving average, a key technical resistance level. Soymeal and soyoil futures also posted sharp gains.

Spot basis bids were steady to higher at U.S. Midwest elevators, processors and river terminals on Wednesday morning. Bids also firmed in the export market as exporters tried to fill vessels with supplies.

The U.S. Agriculture Department said on Wednesday that exporters sold 120,000 tonnes of U.S. soybeans to China, the world's top importer, for delivery in the 2011/12 marketing year.

Analysts were expecting the USDA's weekly report on Thursday morning to show export sales of soybeans in a range from 350,000 to 550,000 tonnes. Soymeal export sales were expected to come in between 75,000 and 150,000 tonnes while soyoil export sales were forecast in a range from zero to 10,000
tonnes.

FCPO- SINGAPORE, Jan 31 (Reuters) - Malaysian crude palm oil futures ended largely unchanged on Tuesday after falling near a six-week low as investors fretted about the prospects of weakening demand for the edible oil and uncertainty surrounding
the euro zone debt crisis.

Benchmark April palm oil futures on the Bursa Malaysia Derivatives Exchange ended 0.1 percent lower to close at 3,078 ringgit ($1,013) per tonne. Prices earlier touched3,044 ringgit, a level last seen since Dec. 21.

Traded volumes were thin at 17,183 tonnes of 25 tonnes each, compared to the usual 25,000 tonnes.

REGIONAL EQUITY- Feb 1 (Reuters) - Most Southeast Asian stock markets edged higher on Wednesday as demand for growth stocks lifted consumer and resource-related shares outperform amid a bout of profit-taking across the region following a rally in January.

Optimism that the region will keep growing more quickly than others and some hope for an improving global economy helped attract investors to Southeast Asian markets, brokers said.

Bargain hunters sought selected blue-chip shares based on the belief they will report good earnings, they said.

Singapore's benchmark Straits Times Index <.FTSTI> drifted down 0.1 percent after rising more than 9 percent in January, broadly in line with the MSCI Asia ex-Japan.

Malaysia <.KLSE> was shut for a market holiday and will reopen on Thursday. Kuala Lumpur lost 0.6 percent in January,faring worst in the region.

Some regional big caps retreated after their rally last month.

Singapore's DBS Group Holdings Ltd , which surged nearly 18 percent in January, fell 0.15 percent. Offshore marine firm Keppel Corp Ltd dropped 2.2 percent after a 16.7 percent gain of the previous month.

Singapore had been less favoured because of its relatively greater global exposure. The local index fell about 17 percent last year, Southeast Asia's second worst performer after Vietnam.