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Palm oil edges up; investors cautious over output jump KUALA LUMPUR: Malaysian palm oil futures were little changed on Tuesday, with prices stuck in a narrow range as investors turned cautious after estimates showed production in the second-largest grower jumped last month.Traders said the Malaysian Palm Oil Association, a group of planters, has forecast that crude palm oil output in Malaysia surged 17.8 percent in March from February's 1.28 million tonnes, topping market estimates of a 9 percent rise."There was news saying production for March was very much above market estimates. Everybody became a bit worried," said a trader with a local commodities brokerage."Investors have moved to the sidelines, that's why it's a bit quiet and there's a tight range today," the Kuala Lumpur-based trader added.By the midday break, the benchmark June contract on the Bursa Malaysia Derivatives Exchange had edged up 0.3 percent to 2,630 ringgit ($807) per tonne, with prices rangebound between 2,614-2,637 ringgit.Total traded volume stood ...


CBOT corn to test support at $4.89-1/4 SINGAPORE: CBOT May corn may test a support at $4.89-1/4 per bushel, as a correction from the April 1 high of $5.12-1/2 seems incomplete.The correction is against a five-wave cycle rising from the Jan. 10 low of $4.14-1/2. It is supposed to consist of three waves labelled a, b, c. The wave c may have just started.A Fibonacci retracement analysis on the cycle reveals a support at $4.89-1/4, the 23.6 percent retracement, which has stopped ...

China sells 39pc of cotton during April 1-4 auction SHANGHAI: China's state cotton stockpiler sold about 39 percent of the fibre it put up for auction last week, with sales tumbling to less than half of what was offered on daily auction after a successful first day. The reserves corp sold a total of 186,199 tonnes of cotton from April 1 to 4, the first week of sale since cutting its minimum bidding price to 17,250 yuan ($2,800) a tonne. It had offered 477,983 ...

Wheat edges lower, crop condition caps losses SYDNEY: US wheat futures edged lower on Tuesday on forecasts for showers later this week, although losses were capped as crop conditions across key growing states worsened, adding to concerns over potential production shortfalls.FUNDAMENTALSChicago Board Of Trade May wheat fell 0.1 percent to $6.75-1/2 a bushel, having closed up 1.0 percent on Monday.May soybeans little changed at $14.63-1/2 a bushel, having slid 0.7 percent on Monday.May corn fell 0.1 percent to $4.98-3/4 a bushel, having ...

Spot gold to test resistance at $1,304 SINGAPORE: Spot gold is expected to test a resistance at $1,304 per ounce, a break above which will lead to a further gain to $1,321.The resistance has been identified as the 23.6 percent Fibonacci retracement on the fall from the March 17 high of $1,391.76 to the April 1 low of $1,277.29. It blocks the way towards the 38.2 percent retracement at $1,321.Wave pattern shows that the rebound from $1,277.29 is driven by a wave ...

LME aluminium to revisit high of $1,849 SINGAPORE: LME aluminium is expected to revisit its April 4 high of $1,849 per tonne, as it may have completed a correction from this level. The correction has been driven by a wave 4, the fourth wave of a five-wave cycle rising from the March 19 low of $1,704.25.This wave may have ended around a support at $1,816, the 61.8 percent Fibonacci retracement on the fall from the Oct. 29, 2013 high of $1,905.75 to ...

Shanghai copper to end rebound around 46,790 yuan SINGAPORE: Shanghai copper may end its current rebound around a resistance at 46,790 yuan per tonne and then fall towards a support at 46,080 yuan.The resistance has been established around the 76.4 percent Fibonacci projection levels of an upward wave C, the third wave of a three-wave cycle that developed from the March 20 low of 43,580 yuan. This cycle seems to be over and could be totally reversed over the next few trading session.The ...


 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln