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Corn and soybeans fall on huge US crops, wheat follows HAMBURG/SINGAPORE: Chicago corn and soybeans fell on Wednesday, with corn down for a fourth straight session as record US crops look set to flood the market.Wheat dropped for a third session, tracking losses in soybeans and corn, although the fall was limited by cold weather threatening US wheat plants."Corn and soybeans are being weakened today as the market is adjusting its focus back to the huge corn and soybean harvests which are being gathered in the United States and which will provide good global supplies," said Frank Rijkers, agrifood economist at ABN AMRO Bank."Wheat is being pulled down by the weakness in corn and soybeans. I think there are also signs some investors are ending their recent interest in soybeans and soymeal and are moving to other commodities."Chicago Board of Trade December corn fell 0.9 percent to $3.68-1/2 a bushel at 1135 GMT, its lowest since Nov. 11. January soybeans ...


Iraq tenders to buy a minimum 10,000 tonnes sunflower oil HAMBURG: Iraq's trade ministry has issued an international tender to purchase at least 10,000 tonnes of sunflower oil which can be sourced from any origin worldwide apart from China, European traders said on Wednesday.Tender deadline is Nov. 25 and offers must remain valid until Nov. 30, traders said.Copyright Reuters, 2014

South Korea's KOCOPIA buys about 55,000 tonnes optional-origin HAMBURG: South Korea's Korea Corn Processing Industry Association (KOCOPIA) purchased about 55,000 tonnes of corn which can be sourced from any worldwide origin in a tender for the same volume which closed on Wednesday, European traders said.Price was $224.35 a tonne c&f, they said. The tender had sought arrival at the South Korean ports of Incheon or Kunsan by Mar. 25, 2015.Copyright Reuters, 2014

NY coffee to rise to $1.9505 SINGAPORE: New York March coffee is expected to rise to $1.9505 per lb, driven by a wave C.This is the third wave of a three-wave cycle that developed from the Nov. 10 low of $1.8540, progressing towards $1.9505, the 38.2 percent Fibonacci projection level. The immediate resistance is at $1.9320, the 23.6 percent level, which looks weak, in terms of the fierce character of the wave C.Support is at $1.9025, a break below which will ...

Gold falls from near 3-week high on stronger dollar SINGAPORE: Gold slipped on Wednesday as a stronger dollar prevented the metal from holding on to sharp overnight gains that took it to a near three-week high.The dollar gained against a basket of major currencies on Wednesday, with the yen sliding to a fresh seven-year low against the greenback.In quiet trade, spot gold was down 0.3 percent to $1,193.80 an ounce by 0736 GMT. The metal jumped to a near three-week high of $1,204.70 on ...

CBOT soybeans to fall to $9.99-1/4 SINGAPORE: CBOT soybeans January contract may fall to $9.99-1/4 per bushel, as it has pierced below a support at $10.19-3/4 again.The support was provided by the 38.2 percent Fibonacci retracement on rise from the Oct. 1 low of $9.12-1/4 to the Nov. 12 high of $10.86-1/4. The next support will be at $9.99-1/4, the 50 percent level.The drop from $10.86-1/4 has been within a falling wedge, the lower trendline of which points to $9.99-1/4 as ...

CBOT corn to test support at $3.66-1/2 SINGAPORE: CBOT December corn is expected to test a support at $3.66-1/2 per bushel, a break below which will lead to a further loss to $3.59-3/4.The support is identified as the 38.2 percent Fibonacci retracement on the rise from the Oct. 13 low of $3.30-1/2 to the Nov. 13 high of $3.89, blocking the way towards the 50 percent level at $3.59-3/4.The former two supports, respectively at the 23.6 percent retracement of $3.75 and the ...


 



 
Index Closing Chg%
Arrow DJIA 17,810.06 0.51
Arrow Nasdaq 4,712.97 0.24
Arrow S&P 2,063.50 0.52
Arrow FTSE 6,750.76 1.08
Arrow DAX 9,732.55 2.62
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln