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Palm drops to 5-1/2 year low, biggest monthly loss since Sept 2012 KUALA LUMPUR: Malaysian palm oil futures slid to a five-and-a-half year low on Friday due to fears of rising vegetable oil supply and lower demand, resulting in its biggest monthly loss since September 2012.The benchmark November contract on the Bursa Malaysia Derivatives Exchange shed 2.5 percent to 1,930 ringgit ($613) per tonne by the close. For the week, the contract fell 3.5 percent to post its fourth straight week of losses.Prices in August have plunged 14.5 percent, their biggest monthly drop in nearly two years.Total traded volume amounted to 59,300 lots of 25 tonnes, much higher than the average 35,000 lots. Investors rushed to take positions ahead of a long weekend, pushing prices as low as 1,926 ringgit, their lowest since March 20, 2009."As palm oil hit a multi-year low, it attracted speculators who see value in the price to go long on the commodity, as they try to catch ...

NY coffee to retest resistance at $2.0120 after a shallow fall SINGAPORE: New York December coffee may retrace to a support at $1.9420 per lb before retesting a resistance at $2.0120.The support and the resistance are provided, respectively, by the 23.6 percent and 38.2 percent Fibonacci projection levels of an upward wave C that started at the Aug. 20 low of $1.8285. This wave may eventually travel to $2.1250, its 61.8 percent projection level.A break above $2.0120 will open the way towards $2.0685, the 50 percent ...
NY cocoa may break support at $3,199 and fall further SINGAPORE: New York December cocoa may break a support at $3,199 per tonne and fall more, as indicated by a Fibonacci retracement analysis. The shooting star formed on the daily candlestick chart on Aug. 27 signals a reversal of the uptrend that rose from the May 15 low of $2,874. The Fibonacci retracement analysis on the trend reveals a support at $3,199, the 23.6 percent level, a break below which will lead to a further ...
Gold up for third day on softer dollar; US rate hike pressure looms SINGAPORE: Gold rose for the third straight day on Thursday on softening dollar and increased tensions between Ukraine and Russia, but the precious metal was under pressure from rallies in equities and the prospect of a US interest rate hike. Higher interest rates would dull the appeal of non-interest-bearing assets such as gold, which was struggling to cross the key resistance of $1,300 an ounce.Gold prices were more than $600 below a record hit in ...
Palm edges up; higher edible oil supply woes curb gains KUALA LUMPUR: Malaysian palm oil futures edged up in tight trade on Thursday, but stayed under the 2,000-ringgit mark as investors braced for an anticipated surge in rival edible oil supply amid rising palm oil production in the world's top growers.Benchmark prices are languishing near five-year lows and are headed for their biggest monthly drop since September 2012, as worries of bumper crops of US soybeans and disappointing demand for palm pressured the tropical oil.Bigger ...
NY sugar may revisit high of 15.97 cents SINGAPORE: New York October sugar may revisit its Aug. 27 high of 15.97 cents per lb, as indicated by a wave pattern and a Fibonacci retracement analysis.The rebound from the Aug. 25 low of 15.30 cents seems to have adopted a zigzag pattern, which will consist of three waves. So far, only two waves have completed, with the second wave labelled b having bottomed around a support at 15.56 cents, the 61.8 percent Fibonacci retracement ...
CBOT wheat to test resistance at $5.51-1/2 SINGAPORE: CBOT September wheat is expected to test a resistance at $5.51-1/2 per bushel, with a good chance of breaking above this level and rising more to $5.58.The resistance is at the 38.2 percent Fibonacci projection level of a wave C, the third wave of a three-wave cycle that developed from the July 29 low of $5.18-1/2. This wave has a fierce character and may travel into a range of $5.64-1/4 to $5.72, respectively the ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln