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Palm ends higher after tumbling to March 2009 low KUALA LUMPUR: Malaysian palm oil futures ended higher on Monday, snapping an eight-day losing streak, as short-covering reversed losses from the morning session and helped the tropical oil stay above 2,000 ringgit.Palm had tumbled to a March 2009 low of 1,954 ringgit in early trade as financing troubles in China, coupled with lacklustre export demand, triggered speculative selling.A bout of covering in late trading, however, helped prices recover some losses."There was a lot of short-covering due to an oversold situation in the market in the last two days. A rebound in the Dalian palm oil market also prompted the short-covering," said a trader with a local commodities brokerage in Kuala Lumpur."But there's no fundamental reason for the rebound. All the bearish news -- the higher production, low exports -- is already well absorbed."The benchmark November contract on the Bursa Malaysia Derivatives Exchange inched up 1.6 percent to 2,027 ringgit ($641) ...


Romania reaps 7.4mn tonnes wheat, record rapeseed crop BUCHAREST: Romania reaped a record wheat crop of about 7.4 million tonnes this year from 2 million hectares against 7.3 million in 2013 and a 44-year record high rapeseed crop of 1.1 million tonnes, the agriculture ministry said on Monday. Minister Daniel Constantin said in a statement wheat yields edged up to 3.65 tonnes per hectare. Romanian farmers also harvested 1.74 million tonnes of barley and two-row barley against 1.51 million tonnes in 2013. "It's ...

Palm tumbles to March 2009 low on Chinese financing woes, bumper supplies KUALA LUMPUR: Malaysian palm oil futures tumbled to their lowest since March 2009 on Monday, falling deeper below the 2,000-ringgit mark as troubles of financing in China, coupled with lacklustre export demand, triggered another wave of speculative selling.Palm prices, which stretched its losing streak into a 9th session and are headed for their biggest annual drop since 2008, are also being dragged lower by fears that global demand will be overwhelmed by a bumper supply ...

NY coffee still targets $1.8430 SINGAPORE: A bearish target at $1.8430 per lb remains unchanged for New York December coffee as it has dropped below support at $1.8830.The support was provided by the 23.6 percent Fibonacci projection level of a downward wave C, the third of a three-wave cycle that developed from the Aug. 1 high of $2.1110. The next support will be at $1.8430, the 38.2 percent level.Wave C is capable of eventually travelling to $1.6730, the 100 percent ...

NY sugar to test support at 15.51 cents SINGAPORE: New York October sugar is expected to test support at 15.51 cents per lb, a break below which will lead to a further loss to 15.05 cents.The support is provided by the 100 percent Fibonacci projection level of a downward wave c, the third of a three-wave cycle that fell from the June 23 high of 18.81 cents. The next support will be at 15.05 cents, the 123.6 percent level.A failure to break the ...

CBOT wheat may fall into $5.34-3/4 to $5.40 range SINGAPORE: CBOT September wheat may fall into a range of $5.34-3/4 to $5.40 per bushel, as indicated by its wave pattern and a Fibonacci projection analysis.The sharp fall from the Aug. 22 high of $5.62-1/2 suggests an extension of the correction from the Aug. 6 high of $5.72.Three small waves may make up the correction, with the current wave c travelling towards the range formed by its 61.8 percent and 50 percent projection levels.Strategically, the ...

NY cocoa to fall more to $3,161 SINGAPORE: New York Dec. cocoa is expected to fall more to $3,161 per tonne, as indicated by a rising channel. The channel was duplicated from an upper rising channel. The lower channel line of the duplicated channel points to a target at $3,161, the 76.4 percent Fibonacci retracement on the rise from the Aug. 1 low of $3,127 to the Aug. 18 high of $3,269. The support at $3,181, the 61.8 percent retracement, has temporarily ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 25, 2014
Reserves $13.925 bln