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China raises 2014 state wheat purchase price by 5.4 percent BEIJING: China, the world's top producer of wheat, raised its state purchase price for the grain by 5.4 percent in major wheat growing areas to help boost farmers' incomes, the state planning body said on Thursday. The floor price for wheat was set at 2,360 yuan ($380) per tonne for 2014, up from last year's 2,240 yuan per tonne, said the National Development and Reform Commission (NDRC). The government will start stockpiling wheat from farmers if the market price for wheat falls below the state-set minimum. The floor price for early-season rice this year was also raised by 2.3 percent to 2,700 yuan per tonne, the NDRC said. China is expected to reap a bumper winter wheat harvest starting next month, with output estimated to rise 1.5 percent to 117.6 million tonnes. China's wheat imports in 2014/15 were seen to fall to 3 million tonnes from 7 million tonnes in ...

CBOT corn may rebound to $4.81-1/4 SINGAPORE: CBOT July corn may break resistance at $4.76-3/4 per bushel and rise to $4.81-1/4, as it has found support at $4.72-1/2.The support was provided by the 150 percent Fibonacci projection level of a downward wave C that developed from the May 9 high of $5.22-3/4. On the hourly chart, corn failed to break the support thrice, indicating the formation of a temporary bottom around this level.The current rebound may be strong enough to go ...

Palm snaps 4-day losing streak on firm crude, technical rebound KUALA LUMPUR: Malaysian palm oil futures rose on Thursday to snap a four-day losing streak, lifted by firm crude prices and a recovery in soyoil markets overseas, while a rebound in technicals underpinned sentiment.Prices slipped off a 2,630 ringgit top last Thursday to fall more than 5 percent this week, touching their lowest in over four months, after weak Chinese edible oil markets and a strong ringgit triggered a round of technical selling.By the midday ...

Gold steady but quickening fund outflows put prices at risk SINGAPORE: Gold held steady on Thursday but was at risk of dropping as holdings in the top bullion-backed fund fell the most in three weeks to a fresh five-year low.Investors were also eyeing US data to be released later in the day for a break from the narrow trading band over the last few sessions, with prices unable to close above $1,300 or below $1,290 an ounce."The trading ranges are getting narrower but a breakthrough ...

CBOT wheat to hover above $6.63-3/4 SINGAPORE: CBOT July wheat may keep on hovering above a support at $6.63-3/4 per bushel, or rebound to $6.75, before dropping again.The support is provided by the April 10 low of $6.63-3/4, and still holds firm after wheat's two attempts to break it. The first attempt was followed by a rebound to the May 20 high of $6.86.It is not clear how strong the current rebound will be.Most likely, it could be weaker than the ...

Soy hits 3 week peak on supply woes, corn near 11-week low SINGAPORE: US soybean futures rose for a second straight session on Thursday to their highest since April 29, with tight US old-crop supplies continuing to underpin the market. Corn edged up, but the market was trading near its lowest in 11 weeks on expectations that favourable weather in the US Midwest would prompt farmers to close in on finishing to plant the crop."The planting in the Midwest is likely to improve in the coming days ...

NY sugar may target 17.07 cents SINGAPORE: New York July sugar may break a support at 17.36 cents per lb and fall more towards 17.07 cents, as it is riding on a powerful wave C.This wave has been driving sugar from the May 14 high of 18.28 cents and has a fierce character, as confirmed by the speed of the fall. A Fibonacci retracement analysis on the rise from 17.07 cents to 18.28 cents reveals the support at 17.36 cents, the ...


Index Closing Chg%
Arrow DJIA 17,798.49 0.08
Arrow Nasdaq 5,127.52 0.22
Arrow S&P 2,090.11 0.06
Arrow FTSE 6,375.15 0.28
Arrow DAX 11,293.76 0.24
Arrow CAC-40 4,930.14 0.32
Arrow Nikkei 19,883.94 0.30
Arrow H.Seng 22,068.32 1.87
Arrow Sensex 26,128.20 0.65

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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln