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US soybeans buoyed by strong demand, corn, wheat up PARIS/SINGAPORE: Chicago soybeans rose on Friday from contract lows as strong demand underpinned the market but the oilseed remained pressured by expectations of record US production.Corn gained around half a percent, rising for a second day. Solid US weekly exports helped the recovery but the market was still on track for its first fall in three weeks.Wheat found support in lower production estimates in Canada and quality downgrades to crops in Europe."The agricultural markets are consolidating, I think we have seen the worst," said Paul Deane, agricultural commodity strategist at ANZ in Melbourne. "We have seen the impact of large supplies and now it is more about moving the stuff out."November soybeans rose 0.5 percent to $10.43-1/2 a bushel by 1106 GMT and December corn added 0.1 percent to $3.69-1/2 a bushel.Weekly US soybean export sales last week were 1.3 million tonnes, according to the US Department of Agriculture, higher ...


Iron ore hits 2-month low, headed for second weekly fall SINGAPORE: Iron ore dropped below $92 a tonne to its lowest since June and is poised to stretch its losses to a second straight week, under pressure from plentiful supply and tougher credit conditions. Some iron ore trading firms are having difficulty securing letters of credit (LCs) from banks as China reins in lending to help spur consolidation in sectors plagued by overcapacity and prevent a surge in bad debts. "In the first half of ...

Gold up but set for second weekly drop on interest rate speculation LONDON: Gold steadied above a two-month low on Friday after a five-day losing streak and was headed for its biggest weekly loss in five, hurt by strong US economic data and speculation that the Federal Reserve could hike interest rates sooner than expected.Bullion was hit hard after minutes from the Fed's July meeting on Wednesday showed policymakers debated whether interest rates should be raised earlier given a surprisingly strong job market recovery. The metal came ...

Palm skids for third week past five-year lows JAKARTA: Malaysian palm oil subsided further on Friday, falling for an eighth-consecutive session to its lowest in more than five years as soybean and crude prices weighed on the market, and defaults and volatility spooked traders. The the benchmark November contract on the Bursa Malaysia Derivatives Exchange fell to 1,989 ringgit ($629) per tonne in afternoon trading, its lowest level since July 2009. By Friday's close, the contract had fallen 1.9 percent to 2,000 ringgit, ...

French wheat harvest 97pc complete by Aug. 18 PARIS: The soft wheat harvest in France was 97 percent complete as of Aug. 18, data from farm office FranceAgriMer showed on Friday. That compared to 93 percent harvested by the same time in 2013 and a revised figure of 96 percent a week earlier. It had initially said the survey of key producing regions showed 95 percent of the land had been harvested by Aug. 11. Grain markets have been monitoring the French harvest ...

Copper rises to two-week high on US economic prospects LONDON: London copper hit its highest price in a fortnight on Friday and was on track for its biggest weekly rise since early July as brightening US economic prospects eclipsed concerns over China and Europe. Risk appetite picked up across equities and commodities after data showed US home resales raced to a 10-month high in July and the number of Americans filing new claims for jobless benefits fell last week, signalling strength in the economy. ...

Indian gold premiums to stay low in 2014 due to weak demand NEW DELHI: Indian gold premiums will average $3-$4 an ounce over London prices this year, roughly half what they were last year, because of continuing restrictions on imports that will soften demand, the head of the country's biggest gold refiner said on Thursday.Struggling with a high trade deficit, India raised its gold import duty to a record 10 percent last year and made it mandatory to export a fifth of all bullion imports. Gold is ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln