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Soymeal eyes biggest monthly gain since 2008 on tight supply SINGAPORE: Chicago soymeal rose more than 1 percent on Friday, stretching its monthly climb in October to the biggest since June 2008, boosted by record export demand and railroad congestion.Soybeans added 0.6 percent, trading near a seven-week peak, while corn was largely unchanged after rising to its highest since July 18 in the last session.FUNDAMENTALSSoybean, soymeal, corn and wheat futures are on track to end October with strong gains. Soymeal has added more than a quarter to its value this month, the most since June 2008, while soybeans are up nearly 13 percent, the most since July 2012.Corn climbed more than 16 percent in October, its biggest monthly climb in more than two years, while wheat has added almost 13 percent after dropping by a similar amount in September.The market was expecting grain and oilseed prices to remain under pressure on expectations of record-large crops in the United States, but ...

LME copper to drop to $6,653 SINGAPORE: LME copper may fall more to $6,653 per tonne, driven by a wave (5).This is the fifth wave of a five-wave cycle that developed from the Aug. 26 high of $7,108.75. It may travel to $6,530, the Oct. 17 low and the presumed trough of the preceding wave (3).A Fibonacci retracement analysis on the fall from the Sept. 8 high of $7,052.25 to $6,530 reveals that copper has deeply pierced below a support at ...
LME aluminium targets $2,063 SINGAPORE: LME aluminium may break a resistance at $2,029 per tonne and rise more to $2,063, as it approached this barrier again.The resistance has been identified as the 61.8 percent Fibonacci retracement on the fall from the Sept. 8 high of $2,118 to the Oct. 2 low of $1,885. This resistance has triggered a shallow correction to the support at $2,002, the 50 percent level.With the metal approaching $2,029 again, the uptrend seems to have ...
Shanghai copper to fall to 46,920 yuan SINGAPORE: Shanghai copper third month may break a support at 47,330 yuan per tonne and fall more to the next support at 46,920 yuan.These two supports are provided by the 23.6 percent and the 14.6 percent Fibonacci retracements on the fall from the Aug. 25 high of 50,750 yuan to the Oct. 17 low of 46,270 yuan.Wave pattern indicates the progress of a downward wave 5, towards 46,270 yuan. Strategically, the target at 46,920 yuan ...
Gold languishes below $1,200; silver tumbles to 4-1/2 year low SINGAPORE: Gold was struggling below $1,200 an ounce on Friday and looked set to post its worst week in seven, while silver tumbled to its lowest since early 2010, as strong US economic data and fears of an early rate hike curbed the metals' appeal.Gold and silver were hit hard after data on Thursday showed that US gross domestic product came in at a higher-than-expected annual pace of 3.5 percent.The metals were already facing some ...
Palm oil still targets 2,340 ringgit SINGAPORE: A bullish target at 2,340 ringgit per tonne remains unchanged for palm oil as indicated by its wave pattern and a Fibonacci projection analysis.Palm oil is riding on an upward wave C that developed from the Oct. 16 low of 2,104 ringgit. This wave has been disrupted by a resistance at 2,295 ringgit, the 61.8 percent Fibonacci projection level.This wave, however, is so fierce that it may travel to 2,413 ringgit, its 100 percent ...
Vietnamese prices pick up; slow trade in Indonesia HANOI: Vietnamese coffee prices picked up this week in line with gains on global markets although trading was slow before the harvest peak next month, while thin stocks kept trading dull in Indonesia, traders said on Thursday. The 2014/2015 crop harvest in Vietnam, the world's largest robusta producer, is expected to peak in two weeks.Vietnam and Indonesia turn out about a quarter of the world's robusta. "The most difficult thing for Vietnamese businesses now, when ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln