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Palm oil to rise to 2,259 ringgit SINGAPORE: Palm oil is expected to rise to 2,259 ringgit per tonne, as it has cleared a resistance at 2,222 ringgit.The resistance was provided by the 38.2 percent Fibonacci projection level of an upward wave C that developed from the Oct. 16 low of 2,104 ringgit. This is the third wave of a three-wave cycle that rose from the Sept. 2 low of 1,914 ringgit.The next resistance will be at 2,259 ringgit, the 50 percent level, a break above which will lead to a further gain to 2,295 ringgit, the 61.8 percent level.Wang Tao is a Reuters market analyst for commodities and energy technicals. 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.Copyright Reuters, ...


Soybean offers firm on steady demand CHICAGO: US FOB Gulf soybeans basis offers were steady to firm and futures edged higher on strong processor and exporter demand even as harvest progressed, traders said on Tuesday.Corn and wheat basis values were steady with stronger futures reflecting domestic demand. Overseas competition for corn, but especially wheat, continues to restrain fresh buying. The US corn harvest is still less than half complete and two weeks behind normal, keeping interior basis bids firm.Soybeans and the ...

Mexico chamber sees 2014/15 sugar exports to US down over 20pc MEXICO CITY: Mexico expects to export 1.5 million tonnes of sugar to the United States in the current season following a trade deal struck this week, the country's sugar chamber said on Tuesday, in what would mark a sharp drop from the previous season. The forecast export volume compares with an estimated 1.9 million tonnes during the 2013/14 crop year that ended on Sept. 30, or a decline of more than a fifth. Monday's accord, ...

Corn dips from 3-mth peak on farmer selling, hopes for rapid harvest SINGAPORE: Chicago corn edged lower on Wednesday, easing from its highest in more than three months on farmer selling and forecasts of harvest-friendly weather across the US Midwest.Wheat eased after climbing 1.5 percent on Tuesday on support from unfavourable weather in key wheat exporting countries.FUNDAMENTALSSpot corn and soybean basis bids weakened in parts of the US Midwest as crop sales by farmers pressured cash prices, grain merchants said. Multi-year low corn and soybean prices had ...

US oil to rise to $82.63 SINGAPORE: US oil is expected to rise to $82.63 per barrel as it has broken resistance at $81.41.Resistance was provided by the 14.6 percent Fibonacci retracement on the fall from the Oct. 1 high of $92.96 to the Oct. 27 low of $79.44. Wave pattern suggests the development of an upward wave (4), the fourth wave of a five-wave cycle that started at the Sept. 30 high of $94.90.This wave is capable of traveling into ...

Spot gold neutral in $1,222.20-$1,235 range SINGAPORE: Spot gold looks neutral in a range of $1,222.20-$1,235 per ounce, and an escape will point a direction.The range has been formed by the Oct. 28 low and the 38.2 percent Fibonacci retracement on the fall to this low from the Oct. 21 high of $1,255.20.A rise above $1,235 will be extended to $1,243, the 61.8 percent retracement, while a fall below $1,222.20 will signal a continuation of the preceding downtrend from $1,255.20, towards ...

LME copper targets $6,870 SINGAPORE: LME copper may rise further towards $6,870 per tonne, after a shallow correction to $6,740.The rise from the Oct. 17 low of $6,530 has been presumed to be driven by a wave c, the third wave of a three-wave cycle that developed from the March 19 low of $6,321.A Fibonacci projection analysis reveals the metal has cleared a resistance at $6,740, the 23.6 percent level and could be advancing towards the 38.2 percent level ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln