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Soymeal rallies with CBOT on Midwest cold snap ROTTERDAM: Soymeal on the European meals and feeds market rallied with CBOT soymeal futures on concerns about the size of the South American soybean crop and in anticipation that a new cold snap in the US Midwest could boost feed demand."Most of the gains in Chicago were because of fund buying and short covering. European buyers do not like to trade weather, but there is some nervousness. It feels a bit like 2008 when prices continued to rise, while everybody thought it could not go up any further," one broker said.South American soymeal was offered between $3 and $15 a tonne up from Friday, following the sharply higher trend in CBOT soymeal futures. Bids were scarce and no deals were reported. Most other products were quoted between unchanged and three euros per tonne up from Friday in sympathy with soymeal.Gains were limited by a dip in the dollar, which weighs ...


NY coffee to drop to $1.6205 SINGAPORE: New York second month coffee is expected to drop to its Feb. 20 low of $1.6205 per lb, as a correction from the same day high of $1.7750 has not completed.The correction will consist of three waves labelled a, b, c. So far, only two waves have developed. The third wave, the wave c, is unfolding towards the trough of the wave a at $1.6205.The Feb. 21 high of $1.7460 has been presumed to ...

Gold edges lower after 3rd week of gains SINGAPORE: Gold inched lower on Monday after posting a third straight week of gains, but the precious metal may get support from worries over the pace of the US economic recovery and China's growth.Investors on Friday had increased bullish bets on bullion after prices broke through tough resistance at $1,300 an ounce, with weak US manufacturing data and uncertainty over China's economic expansion lifting the metal's safe haven appeal.Gold eased 0.29 percent $1,321.35 an ounce ...

Palm oil to extend gain into 2,805-2,821 ringgit zone SINGAPORE: Malaysian palm oil may extend its gain into a range of 2,805-2,821 ringgit, as it has cleared resistance at 2,780 ringgit. Resistance was provided by the percent Fibonacci projection level of an upward wave (3), which started at 2,520 ringgit, an hourly chart low touched on Feb. 4. The target zone has been formed by the 261.8 percent and the 276.4 percent projection levels. The bearish divergence on the hourly RSI strongly suggests an ...

Shanghai copper to hover around support at 49,650 SINGAPORE: Shanghai copper has found support at 49,650 yuan per tonne and may hover around this level for one trading session.Support is provided by the 138.2 percent Fibonacci projection level of a downward wave c, temporarily holding this wave from travelling towards 49,220 yuan, its 161.8 percent projection level.The drop from Monday's high of 50,670 yuan could be too sharp to sustain, and it is likely to be partially reversed by a weak bounce, which ...

Egypt imports official suspected of corrupt rice deals, not wheat CAIRO: Egypt referred an import official from the General Authority for Supply Commodities (GASC) to administrative prosecutors on suspicion of corruption over local rice deals, not wheat, the Supplies Ministry spokesman told Reuters on Sunday. Egypt is the world's biggest wheat importer and any loss of confidence in that trade could have had significant consequences for the market. "The case has no relation at all with wheat, it is about dealings to purchase local rice ...

U.S. cotton up, ignoring exports drop to focus on tighter stocks NEW YORK: New York-traded cotton ended up for the first time in three sessions on Friday as players looked beyond a drop in weekly exports and focused on inventories that were expected to stay tight due to lower output.The U.S. Department of Agriculture said export sales of 2013/14 cotton totaled 78,200 running bales last week, well below the previous week's tally of 120,300 bales.With domestic cotton output at a four-year low and local demand for ...


 



 
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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%
MonthlyApril
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 26, 2015
Reserves $17.749 bln