Monday, March 28, 2011

20110328 1821 FCPO EOD Daily Chart Study.

FCPO closed : 3282, changed : +21 points, volume : lower.
Bollinger band reading : pullbak correction downside biased.
MACD Histrogram : recovering, seller lockin in profit.
Support : 3270, 3250, 3200, 3150 level.
Resistance : 3300, 3350, 3420, 3450 level.
Comment :
Pullback correction FCPO closed recorded gain with decreasing volume changed hand after last Friday soy oil closed firmer and currently trading little higher.
Daily chart formed the 6th doji bar candle(down bar) with longer lower shadow positioned in between lower and middle Bollinger band level after market opened gap up, tested little higher and eased lower recording small loss before recover partial of the losses to closed off the low of the day.
Technical reading calling a pullback correction downside biased market development testing support and resistance level with MACD Histrogram positive divergence in the forming.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.

20110325 1744 FKLI EOD Daily Chart Study.

FKLI closed : 1512.5 changed : -4.5 points,  volume : higher.
Bollinger band reading : side way range bound little upside biased.
MACD Histrogram : turned downward, buyer reducing exposure.
Support : 1500, 1485, 1470, 1458 level.
Resistance : 1515, 1530, 1540, 1550 level.
Comment :
Negative sentiment FKLI closed recorded loss with much higher volume traded doing 1.5 point discount compare to cash market despite U.S. market last Friday closed higher while regional markets mostly lower after another earlier Japan 6.5 earthquake, unsettle Japan nuclear power plant scenario, news on Germany state election favor opposition and Portugal debt issue.
Daily chart formed a down doji bar candle with longer lower shadow positioned nearer to middle Bollinger band level after market opened 1 tick lower, slide down lower before recover partial of earlier losses to closed off the low of the day.
Chart reading still suggesting a side way range bound little upside biased market development testing support and resistant level.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.

20110328 0941 Local & Global Economic Related News.

Malaysia: Inflation quickens to 22-month high, pressuring rates
Malaysia’s inflation accelerated to a 22-month high, putting pressure on the central bank to resume raising interest rates. Consumer prices rose 2.9% in February from a year earlier, according to a report by the statistics department that compares with the 2.7% median estimate in a Bloomberg News survey of 17 economists. Malaysia’s inflation is set to accelerate and the economy may expand as much as 6% this year, the central bank said, signaling it would move to counter rising prices and “financial imbalances.” Asian policy makers from India to the Philippines have raised borrowing costs this month as oil and food costs surge. (Bloomberg)

Singapore: Production growth slows, missing economist forecasts
Singapore’s industrial production growth slowed more than economists estimated last month as the increase in electronics manufacturing eased and pharmaceutical output declined. Manufacturing, which accounts for about a quarter of the economy, climbed 4.8% in February from a year earlier after a revised 11% increase in January, the Economic Development Board said. The median estimate of 16 economists surveyed by Bloomberg News was for a 6.2% gain. Singapore’s export growth slumped in February after the Lunar New Year holidays curbed demand from China for manufactured parts, and overseas sales are set to ease this year as the global economic rebound cools. The biggest Japanese earthquake on record, with its ensuing tsunami and nuclear plant crisis, may further damp shipments. (Bloomberg)

Japan:Consumer prices fell in February, may rise after quake
Japan’s deflation moderated in February even before the country’s worst earthquake on record and an ensuing tsunami and nuclear crisis this month push up energy and food costs. Consumer prices excluding fresh food declined 0.3% from a year earlier, the statistics bureau said, matching the median estimate of 23 economists surveyed by Bloomberg News. (Bloomberg)

EU: Cuts future aid fund’s startup capital on German demands
European Union leaders cut the startup capital for the future euro emergency aid mechanism after German demands to make smaller upfront payments stoked fresh concerns about Europe’s effort to quell the debt crisis. As speculation swirled that Portugal will be the next victim of the crisis, the leaders bowed to German Chancellor Angela Merkel’s call to pare the fund’s paid-in capital as of 2013 to EUR 16bn (USD23bn), less than the EUR 40bn foreseen in a 21 March accord. (Bloomberg)

US: Economy grew 3.1% in fourth quarter, revised from 2.8%
The US economy grew at a 3.1% annual rate in the fourth quarter, led by a jump in consumer spending that will be hard to match early in the year as energy prices surge. The revised increase in GDP compares with a 2.8% estimate issued last month, figures from the Commerce Department showed. Earnings at financial firms led a 2.3% increase in corporate profits from October to December that capped the biggest annual gain in six decades. (Bloomberg)

US:Unemployment fell in 27 US states in February, labor says
Unemployment decreased in 27 US states in February, suggesting a strengthening labor market. The jobless rate fell the most in Nevada, where it reached 13.6%, figures from the Labor Department showed. Thirty-five states showed gains in payrolls, led by California with a 96,500 increase and Pennsylvania where employment climbed by 23,700. The report is consistent with 4 March government figures showing nationwide unemployment in February fell to 8.9% as employers added 192,000 workers. Broader payroll gains are needed to bolster consumer spending, the biggest part of the US economy. (Bloomberg)

U.S: Consumer sentiment dropped more than forecast in March, damped by higher gasoline costs and the effects of Japan's natural disaster. The Thomson Reuters/University of Michigan final index of consumer sentiment decreased to 67.5, the lowest level since November 2009, from 77.5 in February, the group said. (Source: Bloomberg)

France: GDP accelerated more than originally estimated in the fourth quarter, led by road transport services as import growth weakened. The economy expanded 0.4% from the third quarter, when it grew 0.2%, national statistics office Insee in Paris said. It had previously estimated an expansion of 0.3% in that period. In 2010, GDP rose1.5%, in line with a previous estimate. (Source: Bloomberg)

S. Korea: Consumer confidence fell to the lowest level in almost two years, damped by Japan's strongest earthquake and political unrest in the Middle East. Retailers' stocks dropped in Seoul trading. The sentiment index declined to 98 in March from 105 in February, the fourth monthly drop, the Bank of Korea said in an emailed statement. A number below 100 indicates pessimists outnumber optimists. (Source: Bloomberg)

20110328 0940 Malaysia Corporate Related News.

KLCI chart reading : side way range bound little upside biased.

KL bourse's upward trend may continue
The Malaysian stock market is expected to continue its upward climb this week albeit at a slow pace, with investors focused on small- to mid-sized stocks. (BT)

eBworx to ride on banks' regional expansion
eBworx Bhd (0030), a software developer, aims to double its net profit this year as it rides on the expansion of banks in the region. The company, which helps banks carry out online banking services and manage loan applications, made a net profit of RM4.77 million for the year to December 31 2010, more than double what it made a year earlier(BT)

Bumper harvest for Sarawak Oil Palms
Sarawak Oil Palms Bhd (SOPB) is poised to see at least 10% growth in its fresh fruit bunch harvest to 700,000 tonnes by the end of the year, as more young trees mature. Last year, about 17% of the planted area was of prime fruit bearing ages. As more young trees mature, SOPB expects very good harvest prospects. (BT)

Goldman Sachs hired to sell ADCB stake in RHBCap?
Abu Dhabi Commercial Bank (ADCB) has hired Goldman Sachs to sell its 25% stake in Malaysian bank RHB Capital valued at USD1.4bn (RM4.2bn), two sources with direct knowledge of the matter said on Saturday. The 30% foreign ownership limit in Malaysian banks has proved to be a stumbling block for foreign banks planning to expand in Malaysia through acquisitions. But in a recent interview, Malaysian Prime Minister Datuk Seri Najib Razak signalled that he was ready to ease bank ownership rules and would consider allowing Australia & New Zealand Banking Group Ltd to double its stake in AMMB Holdings to 49%. (BT)

MPC joins bid for Pos Malaysia
Malaysia Pacific Corp (MPC) and Amanah Raya are believed to have submitted a joint bid for the 32.2% equity stake in Pos Malaysia held by Khazanah Nasional, sources said. According to sources, the joint bid by MPC is one of the three that Khazanah is considering and is seemed to be the outstanding one on the table in terms of enhancing shareholder value of Pos Malaysia, although the price offer is the lower than Syed Mokthar’s bid. (StarBiz)

Firefly banking on Iskandar Malaysia to develop southern hub
FlyFirefly SB, a unit of Malaysia Airline System Bhd (MAS), will develop the Sultan Ismail International Airport as its southern hub in tandem with developments taking place at Iskandar Malaysia, the southern economic development corridor in Johor. The airline's routes out of Johor will connect its Eastern hub in Kota Kinabalu, Sabah, and also Indonesia and neighbouring countries in the region in the second-half of the year. (StarBiz) 

AMMB-RHBCap: Merger may be back on the table. A proposal to merge AMMB Holdings Bhd and RHB Capital Bhd, which first surfaced in 2007, is back on the table. (Source: The Edge Financial Weekly)

MISC: Eyeing IHC Merwede. International shipping publications are speculating that national carrier MISC Bhd could be a potential investor in Hollands IHC Merwede Holding BV. (Source: The Edge Financial Weekly)

Pos Malaysia: Declares 17.5 sen dividend, MPC joins bid. Pos Malaysia Bhd has recommended a first & final and special dividend totalling 17.5 sen per ordinary share less 25% tax in respect of the financial year ended Dec 31, 2010. Separately, Malaysian Pacific Corp Bhd and Amanah Raya Bhd are believed to have submitted a joint bid for the 32.2% equity stake in Pos Malaysia Bhd held by Khazanah Nasional Bhd. (Source: Bursa Malaysia, The Edge Financial Daily)

Mamee: To upgrade facilities. Mamee-Double Decker (M) Bhd, which aims to achieve an annual revenue of RM1b in five years, will spend 90% of its RM100m capital expenditure (capex) this year to upgrade its facilities and machinery in one of its Malacca plants. (Source: The Star)

SC: Zarinahs term extended. The Securities Commission (SC) said the tenure of its chairman Tan Sri Zarinah Anwar has been extended for one year with effect from April 1. (Source: The Star)

Iskandar: 2012 to be tipping point for Iskandar. The first phase of catalyst projects in the ambitious Iskandar Malaysia will begin operations next year, signaling the beginning of a strong and sustainable metropolis of international standing. (Source: The Star) 

20110328 0907 Global Market Related News.

 DJIA chart reading : side way range bound little upside biased.

 FTSE chart reading : correction range bound little downside biased. 
DAX chart reading : correction range bound downside biased. 

 Hang Seng chart reading : correction range bound little downside biased.

Carney Says Currency and Capital Curbs Threaten Global Economic Recovery (Source: Bloomberg)
Bank of Canada Governor Mark Carney said the global recovery could be undermined if policy makers react to the growing power of emerging markets and rising commodity prices with restrictions on currencies and capital flows.

Fed's Bullard Says ‘Pretty Good’ U.S. Economy May Allow Early End to QE2 (Source: Bloomberg)
U.S. Federal Reserve policy makers should review whether to complete a second round of quantitative-easing purchasing due to end in June because of strong U.S. economic data, Federal Reserve Bank of St. Louis President James Bullard said.

Consumer Confidence in U.S. Falls More Than Forecast on Rising Fuel Prices (Source: Bloomberg)
Consumer sentiment in the U.S. dropped more than forecast in March, damped by higher gasoline costs and the effects of Japan’s natural disaster. The Thomson Reuters/University of Michigan final index of consumer sentiment decreased to 67.5, the lowest level since November 2009, from 77.5 in February, the group said today. The median forecast of 67 economists surveyed by Bloomberg News projected a reading of 68.

Gains in Payrolls Probably Accelerated, Showing U.S. Job Market Improving (Source: Bloomberg)
Employment probably picked up in March and factory assembly lines kept humming, showing that the jump in fuel costs has yet to hamper the U.S. expansion, economists said before reports this week.

Fed Has Less Need for Extra Stimulus as Economy Gains Monthly, Evans Says (Source: Bloomberg)
The Federal Reserve has less need to support an improving economy beyond the $600 billion Treasury purchase plan already in place, and any changes to the central bank’s stimulative policies should be considered some time after the program ends, said Charles Evans, president of the Fed’s regional bank in Chicago.

Plosser Says Fed Should Detail Asset Sales While It Raises Interest Rates (Source: Bloomberg)
Federal Reserve Bank of Philadelphia President Charles Plosser laid out a strategy for withdrawing record monetary stimulus and said the improving economy means policy makers should consider how to exit.

Unemployment Drop in 27 U.S. States Points to Strengthening Labor Market (Source: Bloomberg)
Unemployment decreased in 27 U.S. states in February, suggesting a strengthening labor market. The jobless rate fell the most in Nevada, where it reached 13.6 percent, figures from the Labor Department showed today in Washington. Thirty-five states showed gains in payrolls, led by California with a 96,500 increase and Pennsylvania where employment climbed by 23,700.

ECB Is Close to Completing Liquidity Plan for Troubled Banks, Reuters Says (Source: Bloomberg)
The European Central Bank is close to completing a new facility providing troubled euro-region banks with longer-term liquidity, which may help Irish banks, Reuters reported, citing a central banker it didn’t identify.

Bernanke Betting Briefings to Promote Clarity Instead of Market Volatility (Source: Bloomberg)
Federal Reserve Chairman Ben S. Bernanke is betting that by holding regular press conferences he’ll provide clarity about monetary policy without saying something that may disrupt financial markets. The Fed said yesterday that Bernanke will begin holding four press briefings a year. The first sessions in April and June will give Bernanke an opportunity to discuss his next steps after completing the record stimulus from the purchase of $600 billion in Treasury securities through June.

Treasuries Decline Before Government Sells $35 Billion in Two-Year Notes (Source: Bloomberg)
Treasuries fell before the government sells $35 billion in two-year notes. Ten-year yields gained two basis points to 3.46 percent as of 9:10 a.m. in Tokyo.

Euro Weakens for Second Day After Merkel's Party Defeated; Dollar Advances (Source: Bloomberg)
The euro fell for a second day against the dollar after German Chancellor Angela Merkel ’s coalition was defeated in its southwestern heartland, clouding the political outlook for Europe’s biggest economy.

US durable goods orders fall, job market healing
WASHINGTON, March 24 (Reuters) - Orders for long-lasting U.S. manufactured goods fell in February as companies scaled back investment plans for a second month in a row, suggesting a cooling off in business spending.
Other data on Thursday showed the labour market's recovery was becoming well-established, with new claims for jobless benefits falling last week and the four-week moving average dropping to it lowest level in more than 2-1/2 years.

Japan auto recovery may take months; short of parts, power
TOKYO, March 25 (Reuters) - Lost production in the two weeks since an earthquake and tsunami struck northeast Japan tops a third of a million vehicles, and it could be months, rather than weeks,  before the country's automakers get back on track.
Modern-day cars have as many as 30,000 parts, 70-80 percent of which are supplied by hundreds of component makers. A single missing bolt can halt assembly lines and set off a chain reaction in the industry's famed just-in-time manufacturing process.

FOREX-Euro falls versus US dollar on Portugal worry
NEW YORK, March 25 (Reuters) - The euro slipped against the U.S. dollar on Friday and could remain under pressure in the near term on concern about a worsening debt crisis in Portugal following the collapse of the country's government.
"GDP came in a little better than expected. While relatively old news, it adds to the somewhat improved tone of the dollar earlier this morning," said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange in Washington.

Stocks steady, euro shrugs off Portugal crisis
LONDON, March 25 (Reuters) - World stocks held firm focusing on a buoyant economic and company backdrop, while the euro shrugged off fresh ratings downgrades for Portugal, which is in the grip of a political and debt crisis. "The market is treating many of these downgrades as rearguard actions which are already well discounted and the dollar is under pressure broadly," said Todd Elmer, currency strategist at Citi in Singapore.

20110328 0901 Global Commodities Related News.

Oil Trades Below $106 as Europe Debt Concerns Outweigh Middle East Unrest (Source: Bloomberg)
Oil traded below $106 a barrel in New York after failing to breach technical resistance at its 30- month high, while concerns that European nations’ debt may cut demand overshadowed turmoil in Libya and the Middle East.

Corn (Source: CME)
US corn futures close lower on profit-taking ahead of the weekend. Traders took money off the table following a recent rally fueled by talk China had re-entered the market and bought US corn. The USDA seemed to validate the chatter Friday by reporting sales of 1.25M tons to "unknown destinations." Morgan Stanley says, "We believe that today's announcement provides confirmation." Meanwhile, demand could provide renewed support next week as traders say the USDA may announce more export business Monday. CBOT May corn slides 13c to $6.89 1/2 a bushel.

Wheat (Source: CME)
US wheat futures finish mostly lower on pre-weekend profit-taking and spillover pressure from losses in corn. Market participants booked profits after wheat prices surged 3.5% Thursday. Corn's weakness added pressure, as both grains are used for livestock feed, traders say. Wheat had previously felt spillover support from corn, which rallied during the past week on talk on sales to China. CBOT May wheat drops 6 1/4c to $7.33 1/4 a bushel, KCBT May rises 2c to $8.65 3/4, MGE May slips 2 1/4c to $8.81 a bushel.

Cargill To Buy Marico's Sweekar Sunflower Oil Brand (Source: CME)
Food and agricultural products company Cargill said it has agreed to buy Indian consumer goods maker Marico Ltd.'s refined sunflower oil brand, Sweekar, for an undisclosed amount. U.S.-based Cargill said the acquisition strengthens its existing portfolio of edible oil consumer brands. It already sells sunflower oil locally under the NatureFresh and Gemini brands. Cargill's acquisition of the Sweekar brand comes at a time when foreign consumer goods makers are looking to increase their exposure to India, one of the fastest growing economies in the world. The government estimates economic growth will rise to 8.6% this fiscal year ending March 31 from 8.0% last year. U.K.-listed Reckitt Benckiser Group PLC--which sells brands such as Dettol, Durex and Disprin in India--last December agreed to buy privately held Indian company Paras Pharmaceuticals Ltd. Paras sells over-the-counter products such as cold-and-flu remedy D'Cold and Moov pain relief ointment.
Cargill said the acquisition is limited to the Sweekar brand. While Marico has positioned Sweekar as a low-cost edible oil aimed at the mass market, its flagship Saffola brand is targeted at the premium edible oil segment. Gautam Duggad, an analyst at Mumbai-based brokerage Prabhudas Lilladher, said Marico seems to have finally found a buyer for the low-margin Sweekar brand that it has been looking to exit for some time. Marico was not immediately available for comment. "Acquiring the Sweekar brand underscores Cargill's long-term commitment to growing our consumer food business in India," Cargill India Chairman Siraj Chaudhry said in a statement. Lazard India acted as the sole financial advisor for Cargill in the acquisition, the statement added. In 2008 Marico sold its processed foods business under the Sil brand to Denmark's Good Food Group.

Metals demand skewed to downside on Japan -Goldman
LONDON, March 24 (Reuters) - Demand and price risk for industrial metals has now skewed to the downside due to recent developments including Japan's earthquake disaster, and as tighter monetary policy is priced in, Goldman Sachs said on Thursday.
The bank did not revise any of its metals prices from a report released in December.However, it said in a note that a cyclical breakout for copper and zinc, initially seen late this year, may be deferred.

China's LME-linked alumina imports seen down on high prices
HONG KONG, March 25 (Reuters) - Rising LME-linked alumina prices are prompting Chinese smelters to accelerate a shift to cheaper domestic supplies and delay, divert or resell term arrivals, which are expected to decline further after hitting eight-month low in February, traders said on Friday.
LME aluminium prices rose 11 percent last year and touched their highest level since September 2008 at $2,651 on Thursday, supported by brisk demand growth and soaring energy costs. The price stayed at $2,625 a tonne at 0607 GMT on Friday.

Europe copper premiums claw back from 2-year lows
LONDON, March 24 (Reuters) - European premiums for physical copper rose this week, clawing back from two-year lows as traders said demand was perking up and that gains looked set to increase in the traditionally stronger second quarter.
Traders quoted the premium for grade A copper in Rotterdam at $50-60 a tonne.
This premium, paid above the London Metal Exchange (LME) cash contract price , was at $40-70 a tonne last week, its lowest level since the first quarter of 2009 and compared with $95-105 in mid-January.

Asia Steel - China prices dip 1.3 pct but Q2 revival eyed
March 25 (Reuters) - Chinese steel prices fell again this week with most buyers still unwilling to return to the market, but a retreat in stockpile levels could suggest an upturn is around the corner.
"Activity remains relatively low but the stockpile figures are encouraging -- actually it is normal for demand to pick up in the second quarter," said a steel trader based in Beijing.

METALS-Copper steadies, investors eye EU debt crisis
LONDON, March 25 (Reuters) - Copper steadied on Friday as concerns over sovereign debt in Europe and the worsening nuclear crisis in Japan undermined sentiment, but expectations of a supply deficit this year lent support.
"One of the key concerns is the ongoing sovereign debt crisis in Europe. We have already seen some downgrades, and there is speculation that Portugal is going to ask for a bailout," said Credit Agricole analyst Robin Bhar.

PRECIOUS-Gold firms as euro zone debt concerns simmer
LONDON, March 25 (Reuters) - Gold prices firmed on Friday as resurgent worries over euro zone sovereign debt levels and violence in the Middle East and North Africa underpinned the metal's safe-haven appeal.
"There are various macro supports for gold, like (concerns over) euro zone debt levels, which have resurfaced with Portugal, (and) continuing problems in the Middle East, North Africa region," said VM Group analyst Carl Firman.

US wheat, corn bullish on expectations of strong demand
SINGAPORE, March 25 (Reuters) - U.S. wheat and corn , on track for weekly gains of around 3 percent, rose in Asia, while soy also gained but was heading for a slight loss on the week as traders said demand, especially from China, remains strong.  "Given strong demand for grains, particularly from China, the buying (is likely) to carry through next week," said Garry Booth, a trader with MF Global Australia.

Indonesia steps up corn imports from India
NEW DELHI, March 25 (Reuters) - Indonesia has stepped up corn imports from India after snapping up a major deal with New Delhi early this week, while Sri Lanka and Nepal are likely to place orders for Indian cargoes.
Traders said Indonesia, trying to secure supplies of some essential food products, has bought an additional 200,000 tonnes of Indian corn after striking a deal to buy 100,000 tonnes in its biggest import contracts with New Delhi in at least two years.

Russia to consider lifting grain export ban Sept-Oct
MOSCOW, March 25 (Reuters) - Russian officials will consider lifting the grain export ban after the size of this year's harvest is known in late September or October, Agriculture Minister Yelena Skrynnik told journalists on Friday.
"We will have to wait for the results of the spring sowing and to have an understanding of the new crop," she said.

Sugar eases as market eyes Brazil crop outlook
ICE raw sugar futures prices lost some ground in early trade following the prior session's strong advance as the market eyed harvest conditions in top grower Brazil. Coffee prices rose early as bullish sentiment on fundamentals began to reassert itself after the recent technically-driven setback.

Indonesia cocoa output seen at 600,000 T in 2011 -assoc
JAKARTA, March 25 (Reuters) - Cocoa output in Indonesia, the world's third-largest cocoa producer, will be flat this year as increased output from new planting offsets the impact of heavy rains, the Indonesian Cocoa Association said on Friday.
Indonesia produced around 600,000 tonnes of cocoa last year, as extreme weather and heavy rain caused by La Nina hit the archipelago, Zulhefi Sikumbang, chairman of an association known as Askindo, told Reuters.

20110328 0859 Soy Oil & Palm Oil Related News.

Soy Oil chart reading : side way range bound little downside biased. 

Soybeans (Source: CME)
US soybean futures end higher, bucking the lower theme in neighboring grains. Support stemmed from fears that farmers won't sow enough acres this spring to replenish depleted soybean supplies and concerns about wet conditions delaying harvest in Brazil, says Jack Scoville, analyst with Price Futures Group. New-crop soybeans led the advances as the threat of insufficient acreage increases would require higher-than-normal yields come summer if another year of tight supply is to be avoided. Nearby futures gains lagged as the market has grown comfortable with old crop supply levels. CBOT May soy rose 3 3/4c to $13.58 1/4 a bushel while November rose 0.5% to $13.50 1/4.

Soybean Meal/Oil (Source: CME)
Soy-product futures end mixed, with soyoil rallying to 2-week highs on optimistic outlooks for world vegoil demand, analysts said. But soymeal stumbled, succumbing to pressure from declining domestic usage. US meal use in February was reported at the lowest monthly total since 1996, resulting from the shift to distiller grain use in many feed rations, analysts said. CBOT May soyoil settled 1.3% higher at 56.84c/pound while May soymeal finished down 0.7% at $357.20/short ton.

Palm down on slower demand, higher output prospects
KUALA LUMPUR, March 25 (Reuters) - Malaysian palm oil futures fell 0.3 percent as traders took positions on expectations of higher output and lacklustre demand in March.  "I believe exports of this month are not going to be higher than 1.15 million tonnes, we need higher demand to reduce the end-stocks," said another trader in Kuala Lumpur. 

Industry says Pakistan palm oil import to pick up in April
ISLAMABAD, March 25 (Reuters) - Pakistan may import up to 150,000 tonnes of palm oil in April because of less carry over stock, but buying will slow down during the peak summer months of May and June, a top industry official said on Friday.
Pakistan, the world's fourth-largest buyer of vegetable oil, bought less in February because of heavy imports in the preceding months, but buying picked up in March, with 110,400 tonnes purchased from Malaysia between March 1-25.

Rain pounds Brazil center-west soy harvest - Somar
SAO PAULO, March 24 (Reuters) - Heavy rainfall drenched most of the big soybean producing states in Brazil's center-west grain belt in recent days with the region in full harvest, but skies should start to clear on Thursday, forecaster Somar said.
The southern growing region of No. 1 soy state Mato Grosso received 95 millimeters (3.7 inches) of rain over the past three days, with the central region of the state getting 58 mm.