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Wheat, corn, soy face 2nd month of falls on ample supplies SINGAPORE/PARIS: Chicago soybean futures fell on Monday with the market on track for a second month of losses, on the prospect of near-record US production adding to all-time high supplies from South America earlier this year.Wheat and corn were also set to drop for a second month as rising global supplies drag down grain prices.Wheat has given up more than 20 percent of its value since the beginning of July, while corn has lost 11 percent during the period and soybeans have fallen 15 percent in two months."It is the supply story in grain markets," Phin Ziebell, agribusiness economist with National Australia Bank, said."US weather is looking largely favourable, Black Sea supply is good and we have ample soybean supplies coming from Brazil."Chicago Board of Trade actively traded November soybeans dipped 0.8 percent to $8.78-1/2 a bushel by 1200 GMT, December corn eased 0.1 percent to $3.47-3/4 a bushel.Wheat fell ...


Chile's copper output falls 2.5pc in July SANTIAGO: Chile, the world's No. 1 copper producer, posted a 2.5 percent decrease in output in July versus a year earlier due to maintenance work at some processing plants, lower mineral ore grades and a strike at state-owned miner Codelco, the government said on Monday. Production slipped to 455,083 tonnes of copper in July. Although new mines are helping to boost output, Chile, which produces one-third of the world's copper, is struggling with dwindling ore ...

Gold steadies, awaiting fresh clues on US rate rise LONDON: Gold steadied on Monday after last week's slide as a retreat in the dollar lent support, but indications that the Federal Reserve may still raise interest rates this year despite recent market turmoil weighed on the metal. Spot gold was flat at $1,132.98 an ounce at 0934 GMT, while US gold futures for December delivery were down 90 cents an ounce at $1,133.10. The metal fell 2.3 percent last week as a sell-off in ...

Ivorian cocoa arrivals seen at 1,710,000 T Aug. 30 ABIDJAN: Cocoa arrivals at ports in top grower Ivory Coast reached around 1,710,000 tonnes by Aug. 30 since the start of the season on Oct. 1, exporters estimated on Monday, up from 1,696,000 tonnes in the same period of the previous season. Exporters estimated around 14,000 tonnes of beans were delivered to the West African state's two ports of Abidjan and San Pedro between Aug. 24 and 30, down from 17,000 tonnes during the same ...

Bangladesh tenders to import 50,000 T wheat DHAKA: Bangladesh's state grains buyer has issued a tender to import 50,000 tonnes of wheat, a procurement official said on Monday, as part of efforts to ensure supplies. The deadline to submit offers under the tender is Sept. 15, with validity up to Sept. 27, and the wheat is to be shipped within 40 days of signing the contract. This is the second tender issued by the state grains buyer in the current fiscal year ...

Australian wheat lowest in Iraq's 50,000 tonnes hard wheat tender HAMBURG: Australian wheat was offered lowest at $231.70 a tonne c&f free out in a tender by Iraq's state grains board seeking at least 50,000 tonnes of hard wheat, European traders said on Monday.The tender closed on Sunday and offers must remain valid up to Thursday, Sept. 3, traders said. No purchase had yet been made, they said. The Australian offer was made for 50,000 tonnes, they said.Russian wheat was offered lowest at $234.00 a ...

NY sugar may retrace more to 10.76 cents SINGAPORE: New York October sugar may retrace more to a support at 10.76 cents, as it failed to break a resistance at 11.15 cents per lb.The support and the resistance are identified respectively as the 23.6 percent and the 38.2 percent Fibonacci retracementson the fall from the July 14 high of 12.80 cents to the Aug. 24 low of 10.13 cents.A break below 10.76 cents could lead to a further loss to 10.52 cents, the ...


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln