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CBOT corn to retest resistance at $3.42 SINGAPORE: CBOT December corn is expected to retest a resistance at $3.42 per bushel, a break above which will lead to a further gain to $3.49-1/2.The resistance is provided by the 38.2 percent Fibonacci retracement on the fall from the Aug. 18 high of $3.81 to the Oct. 1 low of $3.18-1/4. It seems corn is climbing towards the peak of the preceding wave 4, the fourth wave of a five-wave cycle from $3.81. This wave completed around $3.49-1/2, the 50 percent retracement.A further dip from the current level will be considered as a pullback towards the trendline descending from $3.81 and this pullback will be limited to $3.33, the 23.6 percent retracement.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 ...

Record US corn harvest a pile of troubles for grain handlers CHICAGO: The giant corn harvest about to hit full stride in America's Midwest looks set to overwhelm storage and pile up outdoors, grain industry sources said, raising quality issues and making it hard to keep supplies moving.This year's record corn crop of 14.4 billion bushels alone would fill up 60 percent of the country's grain storage of 24 billion bushels.In total, with a record soybean crop too and hefty harvests of other grains including spring ...
US corn harvest seen behind at 15pc CHICAGO: Dry, warm days across the US Corn Belt last week promoted the corn and soybean harvests but it was behind the typical pace as a cool, wet summer slowed crop maturity, analysts said on Monday ahead of the government's weekly crop report. Analysts also expected the US Department of Agriculture to report strong corn and soybean condition ratings, which have been at 20-year highs this season. The USDA is to release the weekly crop ...
NY sugar soars over 3pc in dramatic recovery from 2010 low NEW YORK: ICE raw sugar rose more than 3 percent on Wednesday, the most in 2-1/2 months, rebounding from a more than 4-1/2-year low, as short-covering and technical buying more than offset deepening concerns about weak demand and ample supplies.ICE cocoa gained the most in nearly eight months as it extended a bounce off last week's three-month low.Arabica coffee fell on low volume. After sinking nearly 2 percent to 13.32 cents per lb, its lowest ...
US corn, soybean futures fall as harvest nears CHICAGO: US corn futures sagged 1 percent on Wednesday, with soybeans falling too, ahead of a likely record harvest of both crops across the US Midwest in the coming weeks, traders said."The new crop is going to overwhelm the balance tables," Matt Zeller, director of market information at INTL FCStone, said in a note to clients.Supplies were tight in the country but processors and elevators were preparing to be overwhelmed with a glut of both ...
Brazil raises 2014/15 coffee crop estimate to 45.14mn bags SAO PAULO: Brazil, the world's largest exporter of coffee, raised its estimate of the recently harvested 2014/2015 crop after good weather boosted output of the country's robusta crop, the Agriculture Ministry said on Tuesday.The overall coffee crop that ended harvest in past weeks is estimated at 45.14 million 60-kg bags, up from the 44.57 million bags forecast in May, the ministry's crop supply agency Conab said in its third estimate of the crop.The increase in ...
China signs agreements to buy 4.8mn tonnes of US soybeans CHICAGO: A Chinese trade delegation signed agreements with U.S. exporters to purchase 4.8 million tonnes of soybeans valued at $2.3 billion following a weeklong industry tour, the U.S. Soybean Export Council said on Tuesday.The 21 purchase agreements were signed late Monday during a global trade conference sponsored by the council in Milwaukee, Wisconsin.These routine buying missions occur yearly, reflecting China's huge demand for oilseeds and grains globally, traders said.China, the world's largest soybean buyer, purchased ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.309 bln
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WeeklyDecember 18, 2014
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