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CBOT soybeans target $10.42-1/2 SINGAPORE: CBOT soybeans November contract may break a support at $10.72-1/2 per bushel and fall more towards $10.42-1/2, as it has approached this level again.The support is provided by the 223.6 percent Fibonacci projection level of a downward wave 3 that developed from the June 26 high of $12.46-1/4. This wave could have resumed after a pause around the support.Strategically, the target at $10.42-1/2 will be confirmed when soybeans drop below their July 11 low of $10.65, as the possibility of an extended rebound will not be ruled out until this low is broken.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, 2014

CBOT corn targets $3.51-1/4 to $3.58-3/4 range SINGAPORE: CBOT September corn is expected to drop into a range of $3.51-1/4 to $3.58-3/4 per bushel, driven by a wave 5.This is the final wave of a five-wave cycle that developed from the June 23 high of $6.53. A Fibonacci projection analysis on the target of the preceding wave 3 reveals that the wave 5 has traveled below a support at $3.68, the 376.4 percent projection level.The next two supports are at $3.58-3/4 and ...

Gold holds above $1,300 as geopolitical risks eyed SINGAPORE: Gold steadied above the $1,300 an ounce support level on Monday, aided by anticipation of increased geopolitical risks as the United States began demanding answers from Russia after a Malaysian plane was downed in eastern Ukraine.Spot gold was little changed at $1,311.64 an ounce by 0302 GMT, after dropping 0.5 percent on Friday. Trading volumes were thin as Japanese markets were closed.The metal jumped 1.4 percent on Thursday when news of the downed Malaysian ...

CBOT wheat targets $4.99-3/4 SINGAPORE: A bearish target at $4.99-3/4 per bushel has been established for CBOT September wheat, as it has broken below a support at $5.32-1/4 again.The support was provided by the 76.4 percent Fibonacci projection level of a downward wave c, which started at the June 9 high of $6.37-3/4. The break below this support signals a continuation of the downtrend towards $4.99-3/4, the 100 percent projection level.Strategically, the target at $4.99-3/4 will be confirmed when ...

Commodity markets rattled by Ukraine airplane disaster LONDON: Global commodity markets were gripped this week by the Malaysian air crash, which has dramatically raised tensions between Russia a key producer of many raw materials and the West.The doomed Malaysia Airlines MH17 flight, which crashed killing 298 people on Thursday, was "likely downed" by a surface-to-air missile fired from separatist-held eastern Ukraine, a US envoy said Friday.Investor sentiment was already hit by broadened US sanctions on Russian energy, defence and financial firms to ...

Copper facing biggest weekly drop since mid-March LONDON: Copper fell to a two-week low on Friday, and its weekly performance headed for the biggest drop in 18 weeks, on concerns about the Chinese property sector and an outlook for increased production.Benchmark copper on the London Metal Exchange was down 1.38 percent at $6,996.50 a tonne at 1451 GMT, having touched a session low of $6,962 a tonne, its weakest since July 2. Copper has dropped nearly 3 percent this week, the biggest ...

EU wheat farmers hold back on selling to ride out price lows PARIS: Farmers in western Europe are holding back on sales from this year's wheat harvest in the hope prices will rebound from two-year lows and defy forecasts for swelling global grain supply. Growers typically sell a significant portion of their crop in forward sales before the summer harvest, but sales are currently running at about half their usual pace, according to analysts and traders.Benchmark prices on the Euronext futures market slipped this week to their ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln