US soy futures hit 2-wk top on USDA supply outlook

Reuters: [2008-05-09 23:51:00]

(Adds volume)

CHICAGO, May 9 (Reuters) - Chicago Board of Trade soybean futures surged to a two-week high on Friday, climbing about 4 percent on USDA's smaller-than-expected U.S. soy supply forecast for the 2007/08 and 2008/09 marketing years, traders said.

* USDA pegged 2007/08 soybean ending stocks at 145 million bushels, down 15 million bushels from its April forecast. USDA estimated 2008/09 end stocks at 185 million bushels.

* "The only surprise is to see the beans as tight as they are, at 185 million bushels, given that ... production is up 20 percent," said Joe Victor, analyst with Allendale Inc.

* USDA put 2008/09 U.S. soymeal end stocks at 300,000 tons, even with its 2007/08 forecast. U.S. 2008/09 soybean oil end stocks were seen at 2.679 billion lbs, down from its 2007/08 forecast of 2.792 billion.

* May soybeans <SK8> ended 51-1/4 cents higher at $13.49-1/2 per bushel, July <SN8> up 48 at $13.58. New-crop November soy <SX8> was up 58 at $13.03-3/4.

* May soymeal <SMK8> closed $3.30 per ton higher at $333.10.

* May soyoil <BOK8> ended 2.45 cent per lb up at 61.53 cents. The contracts of October 2008 forward closed up the 2.5-cent limit, getting an extra boost for the rally in crude oil to an-all time high above $126 per barrel.

* CME Group said on its web site that soyoil limits stay at 2.5 cent per lb for Monday trade.

* Volume was moderate. In soybeans, an estimated 110,256 futures and 23,698 options. Estimated soymeal trade was 43,073 futures and 2,039 options. Soyoil volume was pegged at 49,731 futures and 1,290.

* Commodity funds bought 3,000 soybean contracts, 1,000 soymeal and 3,500 soyoil, traders said.

* A new wave of Argentine protests was supportive. But the strike was expected to be short-lived and there were reports that processors had adequate soybean supplies to meet nearby crushing demands. [ID:nN09500426]

* U.S. Midwest spot soybean basis bids were steady to weaker late Friday as new-crop sales picked up sparked by the rally in CBOT markets, dealers said. [ID:nN09467891]

* In the overnight delivery market, there were no May soybean postings, 409 soymeal and 426 soyoil.

* Malaysian palm oil futures closed higher. Dalian soybeans, soymeal and soyoil were mostly higher overnight.

For a detailed market report click on [GRA/].

(Reporting by Christine Stebbins) ((christine.stebbins@thomsonreuters.com; +1 312 408 8720; Reuters Messaging:christine.stebbins.reuters.com@reuters.net)) Keywords: MARKETS SOYBEANS CBOT

NHL-Kolzig says career with Capitals is over

Reuters: [2008-05-09 23:21:00]

WASHINGTON, May 9 (Reuters) - Goaltender Olie Kolzig said he has played his last game for the Washington Capitals after facing nearly 20,000 shots during a 16-year career.

The team's late-season acquisition of former All-Star netminder Cristobal Huet signalled the end of Kolzig's tenure in Washington.

"For me, it was disappointing the way it ended," Kolzig told Friday's Washington Post. "It's unfortunate because they have a good team here now.

"As an athlete, you have to know when to move on."

A spokesman for the Capitals could not confirm Kolzig's departure but said he had no reason to doubt the Post's story.

The 2000 Vezina trophy winner as the NHL's best goaltender won 301 games for the Capitals.

"Olie has been great for the Washington Capitals, and the Capitals were great for Olie," general manager George McPhee said in a statement.

"He has been a great leader and ambassador for the club. Olie can still play, and if he decides to continue to play, we wish him the very best."

The 38-year-old Kolzig's 711 games played for the Capitals is second only to New Jersey's Martin Brodeur for the most with one team among active goaltenders.

When Huet was acquired from Montreal, coach Bruce Boudreau initially split the playing time between his two netminders.

But Huet started playing well and ultimately won the Capitals' final seven games of the regular season to help the club reach the playoffs.

The South African-born Kolzig never played during Washington's seven-game first-round loss to the Philadelphia Flyers.

"From the first day I met him through my year-end meeting with Olie, I was struck by his class," said Boudreau. "He always was respectful and a true professional in every sense of the word."

(Writing by Steve Ginsburg; editing by Rex Gowar) ((rex.gowar@thomsonreuters.com; +442075423321; Reuters Messaging: rex.gowar.reuters.com@reuters.net. For the latest Reuters Premier League and international football news see: http://football.uk.reuters.com))

Please double click on the news links below:

[NHL-LEN] for more NHL stories

Keywords: NHL CAPITALS/KOLZIG

*TOP NEWS* Canada

Reuters: [2008-05-09 23:13:00]

For news and data, double-click on the codes in brackets. 
Access to some items may depend on subscription level. 
.................................................................. 
TOP STORIES 
> No infectious outbreak on Canadian train-officials  [nN09496954] 
> Canada blocks Alliant Tech's satellite purchase     [nN09414895] 
> Canada jobless rate rises unexpectedly to 6.1 pct   [nN09168649] 
> Canada March trade surplus widens on energy prices  [nN09478230] 
    
BUSINESS 
> ACE launches C$500 mln buyback as net income falls  [nN08414708] 
> Air Canada adds fuel surcharge as oil prices soar   [nN09506040] 
> Manitoba Telecom profit gets wireless lift          [nN09464359] 
> Power Corp of Canada net income rises on gain       [nN09484001] 
> GMP Capital first-quarter profit drops 53 pct       [nN09458976] 
> Cott delays US regulatory filing, cites tax issue   [nN09473960] 
> Canadian shoppers see some gains as C$ holds firm   [nN09174071] 
    
MARKETS 
> Toronto stocks hit by profit-taking despite oil     [nN09516009] 
> Canadian dollar up over a cent, bonds rally         [nN09282110] 
> Big banks may get bruised again                     [nN09479276]    
.................................................................. 
UP-TO-THE-MINUTE HEADLINES 
Company results             [RES]    Economic indicators     [ECI] 
Mergers & acquisitions      [MRG]    Interest rates          [INT] 
 
LIVE PRICES & DATA 
World Stocks           <0#.INDEX>    Canadian dollar <CADX=><NFX=> 
S&P/TSX composite index <.GSPTSE>    Canadian bonds      <CABONDT> 
Dow Jones/Nasdaq    <.DJI><.IXIC>    Debt      <0#USBMK=><EURIBOR> 
 
HOW TO FIND INFORMATION YOU NEED 
|<REUTERS> | <NEWS> | <PHONE/HELP>  | 
|<EQUITY>  | <BONDS>|   <MONEY>     |    <COMMODITY> |  <ENERGY> | 
.................................................................. 
 
For latest top breaking news across all markets          [NEWS] 
.................................................................. 
TOP NEWS SUMMARIES ON OTHER SUBJECTS 
| Politics & General    [TOP/G]  | Sports              [TOP/SPO] | 
| Global economy    [TOP/MACRO]  | European Companies  [TOP/EQE] | 
| Asian companies     [TOP/EQA]  | U.S. Companies      [TOP/EQU] | 
| Fixed Income        [TOP/DBT]  | Forex               [TOP/FRX] | 
| Fund Management    [TOP/FUND]  | Credit           [TOP/CREDIT] | 
| Commods & Energy     [TOP/CE]  | Corporate Finance [TOP/DEALS] | 
| FX News              <FXNEWS>  | Banking/Financials  [TOP/FIN] | 
| Features/Must reads [TOP/FEA]  | 
.................................................................. 
Multimedia versions of Reuters Top News are now available for: 
 * 3000 Xtra    : visit http://topnews.session.rservices.com 
 * BridgeStation: view story .134 
 * Reuters Plus: from your WebDSS screen 
For more information on Top News, visit http://topnews.reuters.com 
.................................................................. 
Toronto newsroom 416-941-8100 

UPDATE 3-No infectious outbreak on Canadian train-officials

Reuters: [2008-05-09 23:11:00]

(Updated throughout)

By Frank Pingue and David Ljunggren

TORONTO/OTTAWA, May 9 (Reuters) - Canadian health officials said on Friday that a death and reported outbreak of flu-like symptoms aboard a cross-Canada train were not due to an infectious disease and in fact were likely not related at all.

About 290 passengers and crew aboard the Vancouver-Toronto train were still being held in quarantine near the tiny northern Ontario town of Foleyet, but would likely be able to continue their journey later on Friday, Ontario's top medical official told a news conference.

"While the cause of death continues to be under investigation, it has been determined that the deceased did most likely not have an infectious disease," said Dr. David Williams.

Early reports of the death and of emergency workers in hazardous materials suits swarming the train had brought back grim memories of the 2003 outbreak of severe acute respiratory syndrome (SARS) in Toronto, which killed dozens and put the medical community on edge.

Williams said one woman -- reported to be in her 60s -- had died suddenly aboard the VIA Rail train, while another had displayed shortness of breath, most likely due to a pre-existing medical condition. She was airlifted to a hospital in nearby Timmins,

Five others traveling in a group had displayed flu-like symptoms, but health officials determined they had been feeling ill before boarding the train, and one had earlier visited a clinic.

"It happened to be a confluence of three (events) at the same time," Williams said.

The remaining passengers and crew are being screened as a precaution, he said.

VIA Rail's trans-Canada services are popular with tourists, many of whom board the train in the Pacific Coast city of Vancouver, British Columbia, or in Jasper, Alberta, for the spectacular journey through the Rocky Mountains. (Additional reporting by Reuters correspondents in Toronto, Ottawa and Vancouver; writing by Janet Guttsman and Cameron French; editing by Rob Wilson) ((janet.guttsman@reuters.com; +1 416 941 8100; Reuters Messaging: janet.guttsman.reuters.com@reuters.net))

Keywords: CANADA TRAIN/

UPDATE 3-Toronto stocks hit by profit-taking despite oil

Reuters: [2008-05-09 23:08:00]

(Adds details)

By Wojtek Dabrowski

TORONTO, May 9 (Reuters) - The Toronto Stock Exchange's main index finished in the red on Friday as profit-taking cooled the energy sector even though oil prices hit another record high.

The S&P/TSX composite index <.GSPTSE> dropped 86.80 points, or 0.59 percent, to close at 14,521.19.

"We had such a very good day yesterday and this market is still a very tricky market, so we probably ran into some profit-taking today," said John Kinsey, portfolio manager at Caldwell Securities Ltd. The index rose more than 200 points on Thursday.

Eight of the 10 main subgroups on the benchmark ended lower, including the key energy and materials sectors, which dropped 0.52 percent and 1.83 percent, respectively. Financials inched 0.06 percent lower.

The S&P/TSX 60 index of Canadian large-cap stocks lost 5.99 points, or 0.69 percent, to end at 863.46.

Oil shares fell even though crude jumped to a record high above $126 a barrel, extending its gains on fuel supply concerns and speculator buying.

Canadian Natural Resources Ltd <CNQ.TO> was among the energy companies that fell, losing C$1.85, or 1.9 percent, to C$94.15 a day after it reported a surge in quarterly profit because of rocketing oil prices.

Oil and gas powerhouse EnCana Corp <ECA.TO> fell 96 Canadian cents, or 1.1 percent, to end at C$86.52.

"The stocks are down for a change, they're not following their commodity," Kinsey said.

Gold prices moved higher on the back of oil on Friday -- an increase not reflected in the shares of gold producers such as Barrick Gold <ABX.TO>, which fell C$1.49, or 3.6 percent, to finish at C$39.51.

Among companies reporting results, ACE Aviation Holdings <ACEa.TO>, parent of airline Air Canada <ACa.TO>, posted a first-quarter loss on Friday because of one-time charges and said it would buy back about 42 percent of its stock. Its shares spiked C$1.41, or 7 percent, to C$21.46.

In the United States, the Dow Jones industrial average shed 120.90 points, or 0.94 percent, to close at 12,745.88. There, a dismal set of results from insurance behemoth American International Group <AIG.N> raised doubts that the end of the credit crisis was near. The tech-heavy Nasdaq moved lower by 5.72 points, or 0.23 percent, to 2,445.52.

($1=$1.02 Canadian) (Reporting by Wojtek Dabrowski; editing by Peter Galloway) ((wojtek.dabrowski@reuters.com; +1-416-941-8009; Reuters Messaging: wojtek.dabrowski.reuters.com@reuters.net)) Keywords: MARKETS CANADA STOCKS