DJI- NEW YORK, Aug 13 (Reuters) - World stock markets eased on Monday after weak Japanese economic data added to the latest reports showing a slowing global economy, while the euro rose as investors exited bearish bets against the common currency.
European shares posted their worst day in more than a week and U.S. stocks snuffed a six-day rally for the S&P 500 after Japan reported its gross domestic product expanded just 0.3 percent in the second quarter.
Japan's growth was half the expected rate, raising doubts about the global economy while highlighting the impact of Europe's debt crisis on world demand.
In another sign of potential slowing demand, Chinese customs data showed output of refined copper dropped 6.8 percent in July from record high production the previous month. Chinese copper consumption is considered an economic bellwether.
The Dow Jones industrial average .DJI closed down 38.52 points, or 0.29 percent, at 13,169.43. The Standard & Poor's 500 Index .SPX fell 1.76 points, or 0.13 percent, to 1,404.11. The Nasdaq Composite Index .IXIC rose 1.66 points, or 0.05 percent, to 3,022.52.
NYMEX- NEW YORK, Aug 13 (Reuters) - U.S. crude oil futures dipped for a second straight session on Monday after data showing weaker second quarter economic growth in Japan stoked global demand worries and outweighed geopolitical risks related to Middle East tensions.
Weather forecasts called for light showers and cooler temperatures over the next week in the U.S. crop belt, which will slow deterioration of the drought-stressed corn and soybean crops - meteorologist.
Analysts surveyed by Reuters expected the USDA later on Monday to rate 30 percent of the U.S. soybean crop in good-to-excellent condition, up 1 percentage point from the previous week, following much-needed rains.
Ahead of monthly data due on Tuesday from the National Association of Oilseed Processors, the average estimate for the July U.S. soy crush was 132.5 million bushels, compared with 134.156 million in June.
The supplement to the U.S. CFTC's weekly report on commitments of traders showed large speculators cut their net long position in CBOT soybeans by more than 15,000 contracts in the week ended Aug. 7, to a net 188,985 contracts.
FCPO- SINGAPORE, Aug 13 (Reuters) - Malaysian crude palm oil futures tumbled to a near ten-month low on Monday, mirroring losses in grains and oilseed markets where traders booked profits from a U.S. drought-driven rally and as rising local stocks weighed on sentiment.
The monthly supply and demand report by the U.S. Department of Agriculture (USDA) forecast a lower soybean output on late Friday, which is slightly bullish for palm oil, but traders said the downgrade had been factored in.
The market continued to price in improving production and a lacklustre demand that pushed Malaysia's palm oil inventory level to a five-month high of nearly two million tonnes in July.
"Global vegetable oils are better supplied than global oilseeds and we therefore expect prices to underperform. The price discount of Bursa palm oil to CBOT soyoil averaged a large $223 a tonne in July and did not spark strong export demand," Rabobank analysts said in a note to clients.
"As a result, we expect this spread to continue to move wider as bullish sentiment remains in CBOT prices with the worst drought in more 50 years continuing to hamper U.S. soybean production," they added.
The benchmark October palm oil futures FCPOc3 on the Bursa Malaysia Derivatives Exchange dropped nearly 2 percent to 2,825 Malaysian ringtgit -- a level unseen since Oct 20. last year. The contract later settled down 0.4 percent to 2,871 ringgit.
Palm oil ended the previous week with a 1.2 percent loss, the fifth consecutive week that the edible oil is in the red.
Total traded volumes stood at 29,649 lots of 25 tonnes each, just slightly lower than the usual 30,000 lots.
REGIONAL EQUITY- Aug 13 (Reuters) - Southeast Asian stock markets mostly edged up on Monday on hopes that weaker economic outlook could spur stimulus measures around the world, but concerns over sluggish growth capped the gains with Jakarta underperforming the region.
The growth concerns trimmed the day's trading volumes as investors stayed on the sidelines for directions from July U.S. retail sales and consumer prices, along with the euro zone's second quarter gross domestic product reading, which are expected to be released on Tuesday.
Singapore's Straits Times Index .FTSTI ended 0.35 percent firmer, the Philippine index .PSI gained 0.16 percent, and Vietnam .VNI, the region's best performer for this year ended 0.14 percent stronger.
Malaysia .KLSE added 0.1 percent to finish at a near record high.
Bucking the trend, Jakarta's Composite Index .JKSE fell 0.9 percent led by financials with a 1.2 percent fall in Bank Mandiri Persero Tbk BMRI.JK and 2.6 percent loss in Bank Negara Indonesia Persero Tbk BBNI.JK.
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