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Wheat rises to near 1-month high as rain worries return PARIS/SINGAPORE: Chicago wheat futures rose on Monday to near a one-month high as forecasts for more rain in the U.S. Plains revived concerns about crop damage and encouraged buying among investors with large short positions.Corn tracked wheat higher, although gains were capped by planting progress in the U.S. Midwest and a recovery in the dollar after a near four-month low last week. Soybeans edged higher.Non-commercial traders hold net short positions in wheat, corn and to a lesser extent soybeans, which analysts say leaves the markets prone to bouts of short-covering despite ample global supply.Chicago wheat jumped 7 percent on Thursday as worries that heavy rain could harm maturing wheat plants prompted a wave of buying, before prices eased back slightly on Friday.Chicago Board of Trade July wheat climbed 1.5 percent to $5.18-3/4 a bushel by 1110 GMT, close to a one-month high of $5.19-3/4 touched in the previous session.CBOT July ...


NY cocoa hovers near 7-month high, sugar dips on firm dollar LONDON: New York cocoa futures steadied on Monday near the prior session's seven-month high, supported by concerns over Ghana's crop, while raw sugar dipped, pressured by a firmer dollar.Arabica coffee futures were little changed in slim volumes.New York cocoa steadied after Friday's rally driven by speculative buying and risked a technically-driven correction lower."If we are about to see the price of cocoa go up, an increase in chocolate prices will weigh on demand," said Hamish ...

Palm down for second day, hits lowest in more than a week JAKARTA: Malaysian palm oil futures slipped for a second day on Monday in light volume to their lowest level in more than a week as competing vegetable oil markets fell and as the ringgit strengthened, traders said.By Monday's close, the benchmark August contract on the Bursa Malaysia Derivatives exchange had edged down 0.3 percent to 2,182 ringgit ($608.77) a tonne, a second day of losses after shedding 0.8 percent on Friday. Earlier in the session, ...

Copper dips on dollar strength, demand expectations cap losses LONDON: Copper slipped as the dollar rose on Monday, though losses were limited by signs of potentially stronger demand and expectations of further policy easing by top consumer China.Benchmark copper on the London Metal Exchange was trading down at $6,387 a tonne at 1011 GMT, from $6,415 at Friday's close.The higher U.S. currency makes dollar-denominated commodities more expensive for holders of other currencies."It's a softer start to the week. The stronger dollar is weighing on ...

TOCOM rises on short-covering after Shanghai gains TOKYO: Benchmark Tokyo rubber futures ended higher on short-covering in late trade, rebounding from earlier losses, helped by stronger Shanghai futures and a lower yen against the dollar, dealers said.The Tokyo Commodity Exchange (TOCOM) rubber contract for October delivery finished 3.4 yen, or 1.5 percent, higher at 223.9 yen ($1.87) per kg, after falling to as low as 219.1 yen."The market was buoyed by short-covering towards the end of trade," said Jiong Gu, an analyst ...

CBOT soybeans target $9.61-1/4 SINGAPORE: CBOT soybeans July contract may break a resistance at $9.56-3/4 and rise more to the next resistance at $9.61-1/4 per bushel.The wave pattern suggests the completion of a downward wave c that developed from the May 6 high of $9.90-1/2, as all its five component waves have unfolded. A Fibonacci projection analysis reveals the resistance at $9.56-3/4, the 100 percent level, which blocks the way towards the next resistance at $9.61-1/4, the 86.4 percent ...

CBOT corn to test resistance at $3.71 SINGAPORE: CBOT July corn may retest resistance at $3.71 per bushel, a break above which will lead to a gain to $3.77-3/4.Resistance is provided by the 61.8 percent Fibonacci projection level of a downward wave c, the third of a three-wave cycle that developed from the Dec. 29 high of $4.31-1/2.This wave may have completed, as indicated by a small double-bottom that formed around the support at $3.57, the 86.4 percent level. The pattern points ...


 



 
Index Closing Chg%
Arrow DJIA 18,232.02 0.29
Arrow Nasdaq 5,089.36 0.03
Arrow S&P 2,126.06 0.22
Arrow FTSE 7,031.72 0.05
Arrow DAX 11,815.01 0.42
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln