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CBOT corn's target at $4.81 temporarily aborted SINGAPORE: A bearish target at $4.81 per bushel has been temporarily aborted for CBOT May corn, as it keeps on hovering above support at $4.94-1/4.Support is provided by the 23.6 percent Fibonacci retracement on the rise from the Jan. 10 low $4.14-1/2 to the April 9 high of $5.19, only a break below which could open the way towards the 38.2 percent retracement at $4.79.The rise could be broken down into five waves, indicating the completion of a five-wave cycle.As a result, the chance will be slim for corn to revisit $5.19. A further rebound from the current level could most likely be limited to $5.08.The views expressed are his own.No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses. ...


Palm rises to over 1-week high on strong crude, better export outlook KUALA LUMPUR: Malaysian palm oil futures rose to their highest in more than a week on Monday, lifted by strong crude and soy oil markets overseas, and on investor anticipation that festival-driven consumption will stoke demand for the tropical oil.Market players are watching for cargo surveyor export data for the first half of April, due on Tuesday, to gauge global demand for palm. Shipments of palm products between April 1-10 rose 3-5 percent compared with ...

Wheat jumps 2pc as Ukraine tensions rise SYDNEY: US wheat futures rose 2 percent on Monday as tensions escalated in Ukraine, stoking fears of potential supply disruptions from one of the world's largest exporters.Chicago Board of Trade May wheat futures were up 1.7 percent at $6.71-1/2 a bushel at 0045 GMT, having earlier hit a session high of $6.73-1/2 a bushel. Wheat closed down 0.3 percent on Friday."Tensions in the Ukraine have risen," said Luke Mathews, commodities strategist, Commonwealth Bank of Australia. ...

Spot gold to rise to $1,335 SINGAPORE: Spot gold is expected to rise to $1,335 per ounce as it has broken above resistance at $1,321.Resistance is at the 38.2 percent Fibonacci retracement on the fall from the March 17 high of $1,391.76 to the April 1 low of $1,277.29. The next resistance will be at $1,335, the 50 percent retracement, a break above which will lead to a further gain to $1,348, the 61.8 percent retracement.A fall below $1,321 will signal ...

LME aluminium to test support at $1,856 SINGAPORE: LME aluminium is expected to test a support at $1,856 per tonne, a break below which will lead to a further loss to $1,827. The support has been formed around the 23.6 percent Fibonacci retracement on the rise from the March 21 low of $1,705.50 to the April 11 high of $1,902.50.It will temporarily block the way towards the 38.2 percent retracement at $1,827. A rebound might be triggered when aluminium arrives at $1,856 ...

CBOT soybeans face support at $14.63-3/4 SINGAPORE: CBOT soybeans May contract has found support at $14.63-3/4 per bushel, only a break below which will lead to a loss to $14.38-1/2.Support is provided by the 138.2 percent Fibonacci projection level of a wave C, which has peaked around the 161.8 percent level at $15.04-1/2. The bearish divergence on the daily RSI suggests the current fall is far from complete.However, it is not very clear about the behaviour of soybeans around the support, ...

Nickel hits 14-month high on ore export ban SINGAPORE: Nickel extended gains on Monday to hit its highest level in more than a year on renewed concerns over supply of the stainless steel material following Indonesia's move to stop ore exports, while copper slipped ahead of key data from China this week. Numbers on China's gross domestic product are due on Wednesday, with a weak reading likely to weigh on emerging markets that are starting to recover from the impact of the United ...


 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
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WeeklyApril 14, 2014
Reserves $9.713 bln