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CBOT soybeans may break support at $8.49-1/2 SINGAPORE: CBOT soybeans may break a support at $8.49-1/2 per bushel, and fall to the next support at $8.26-3/4, driven by a wave C.These two supports are provided respectively by the 38.2 percent and 50 percent Fibonacci projection levels of the wave C, the third wave of a three-wave cycle from the July 14 high of $10.50-1/4. This wave could travel to $8.04, the 61.8 percent level.A more realistic target could be $8.26-3/4, the 50 percent level, which will be confirmed when soybeans break $8.49-1/2. A rise to $8.56 could signal the extension of the bounce from the Nov. 10 low of $8.50 towards the Nov. 18 high of $8.67-1/2.Copyright Reuters, 2015

CBOT corn may fall to $3.65-1/2 SINGAPORE: CBOT March corn may fall to $3.65-1/2 per bushel, as it has broken a support at $3.69-1/2.The support was provided by the 100 percent Fibonacci projection level of a downward wave C, the third wave of a presumed three-wave cycle from the Oct. 7 high of $4.10. The next support will be at $3.65-1/2, the 114.6 percent level.This wave could have resumed, travelling towards $3.52-1/2, its 161.8 percent projection level. A sudden surge above ...

CBOT wheat to drop to $4.85-1/2 SINGAPORE: CBOT March wheat is expected to drop to $4.85-1/2 per bushel, as it could have resumed its downtrend from the Nov. 4 high of $5.32-3/4.The trend consists of five waves, with the fourth wave labelled 4 having peaked around a resistance at $4.93-3/4, the 23.6 percent Fibonacci retracement on the downtrend from $5.32-3/4 to the Nov. 18 low of $4.82.This wave is going to be totally reversed by the current wave 5. However, before ...

NY sugar to test resistance at 15.70 cents SINGAPORE: New York March sugar is expected to test a resistance at 15.70 cents per lb, a break above which could open the way towards the next resistance at 16.75 cents.These resistances are identified respectively as the 50 percent and the 61.8 percent Fibonacci retracements on the downtrend from the June 26, 2014 high of 20.13 cents to the Aug. 24, 2015 low of 11.28 cents.A triangle developing from Nov. 3 has been confirmed as ...

Metals, oil rout deepen on dollar, China fears MANILA: Base metals tumbled to multi-year lows and oil extended losses on Monday as commodities bore the brunt of another selloff, reflecting growing worries over China's economic fate and a strengthening dollar.London nickel slid nearly 6 percent to its lowest since 2003 and copper fell almost 3 percent to its cheapest in more than six years.Lead touched its lowest since 2010 while aluminium matched Friday's low of $1,435, the weakest since 2009.Oil was not spared, ...

NY coffee to fall to $1.2230 SINGAPORE: New York March coffee is expected to fall to $1.2230 per lb, as it has cleared a support at $1.2395.The support was provided by the 23.6 percent Fibonacci retracement on the uptrend from the Nov. 13 low of $1.1530 to the Nov. 20 high of $1.2660. The next support will be at $1.2230, the 38.2 percent level.The wave pattern suggests a completion of the uptrend, as the gain from the Nov. 15 low of ...

China Oct sugar imports down 14.5pc on year at 360,000 T: customs BEIJING: China's sugar imports in October fell 14.5 percent on a year earlier to 360,000 tonnes, according to official customs data published on Saturday.Imports in the first ten months of the year were up 44.9 percent on year at 4.09 million tonnes, data from the General Administration of Customs showed ( were expecting between 350,000 and 400,000 tonnes of sugar to arrive in October, but with few new import permits available, most is expected to ...


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Foreign Debt $62.649bn
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WeeklyNovember 23, 2015
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