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Corn, soybeans jump 2 percent on demand, fund buying CHICAGO: US corn and soybeans surged more than 2 percent on Monday, with each futures contract reversing from early losses on a short-covering rally tied to a slow harvest and strong demand for fresh supplies.The higher prices came despite favorable weather conditions for harvest in the United States, where farmers were gathering record-large corn and soy crops. Soymeal futures soared nearly 8 percent for their largest daily gains in four years.A slow start to the harvest season had some soybean processors scrambling for beans to cover their short positions while rail brokers pulled offers for the animal feed, traders said."Meal is leading the way - crushers are having problems with their hedges," said Dan Anderson, broker at ED&F Man Capital in Chicago.After the close of trading, the US Agriculture Department said the soybean harvest was 70 percent complete, within analyst expectations but below the five-year average pace of 76 percent.The ...

US, Mexico near deal on sugar trade WASHINGTON: The US socked Mexican sugar imports with steep anti-dumping duties Monday, but said a new agreement with Mexico City was in the works that would eliminate any such penalties on Mexican exporters.Two months after levying 17 percent anti-subsidy duties on imported sugar from Mexico, the Department of Commerce announced additional duties of up to 47 percent for dumping sugar into the US market.All told the duties pose a potentially huge blow to the $1.1 ...
Corn, soy boosted by US exports; wheat follows CHICAGO/SYDNEY/PARIS: US corn and soybean futures rose on Thursday, supported by strong export demand for both commodities, traders said.Wheat futures also firmed, on track for their third straight day of gains, on spillover strength from the corn market.But gains were kept in check by forecasts for dry weather across the US Midwest that will allow for a pick-up in the harvest pace of both corn and soybeans and flood cash market dealers with much-needed supplies.Both ...
Gold rises as dollar drops; Chinese data provides boost NEW YORK/LONDON: Gold rose on Monday as the dollar fell on uncertainty about global economic growth, while the prospect of more economic stimulus from China increased bullion's investment appeal. The yellow metal posted its fifth rise in the past six sessions after the dollar index fell on growth concerns and worries the US Federal Reserve may wait longer to hike interest rates. Last week, the greenback notched its biggest weekly loss in six months. Also ...
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 ...
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 ...

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln