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CBOT wheat still targets $4.99-3/4 SINGAPORE: A bearish target at $4.99-3/4 per bushel remains unchanged for CBOT September wheat, as it has cleared a support at $5.32-1/4.The support was provided by the 76.4 percent Fibonacci projection level of a downward wave c, which started at the June 9 high of $6.37-3/4. This wave is capable of travelling to $4.99-3/4, its 100 percent projection level.Resistance is at the July 22 high of $5.36-3/4, a rise above which could signal a reversal of the downtrend and the 61.8 percent projection level at $5.52-1/2 will be targeted.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 regarding the products mentioned in the analyses. Copyright Reuters, 2014 ...

Shanghai copper to end rebound below 50,490 yuan SINGAPORE: Shanghai copper may end its current rebound from the July 21 low of 49,190 yuan below a resistance at 50,490 yuan per tonne, as it has become weak after clearing a lower resistance at 49,810 yuan.The higher resistance is provided by the 23.6 percent Fibonacci retracement on the rise from the June 9 low of 46,940 yuan to the July 4 high of 51,580 yuan, and the lower resistance by the 38.2 percent level.The ...
Philippines sets tender to buy additional 500,000 tonnes rice MANILA: The Philippines will import an additional 500,000 tonnes of rice to beef up stockpiles after a typhoon damaged standing crops last week, a senior government official said on Wednesday. The deal could boost export prices of the grain in Vietnam, the Philippines' traditional supplier. The Philippines, one of the world's biggest rice buyers, will import more after a series of deals with Vietnam involving a total of 1.5 million tonnes that began last November. ...
LME copper to retrace to $6,960 SINGAPORE: LME copper may retrace to its July 18 low of $6,960 per tonne, as a correction from the July 8 high of $7,212 may have only partially completed. The correction may consist of three waves, of which, only two have unfolded so far. The third, labelled c, could be progressing towards $6,960. Strategically, this level should be targeted when copper drops below support at $7,019, the 23.6 percent Fibonacci retracement on the fall from ...
China to launch coal, iron ore swaps on Aug 4 SHANGHAI: China will launch its first iron ore and thermal coal swap contracts on Aug. 4, the Shanghai Clearing House said, marking the country's latest effort to gain influence over the benchmark pricing of key commodities. China is the world's top iron ore and coal consumer. Its launch of the two swap contracts could pose a threat to the cash-settled iron ore and thermal coal swaps contracts cleared by the Singapore Exchange and CME Group. ...
Corn falls 4th day on supply pressure; soy rebounds SINGAPORE: US new-crop corn fell for a fourth straight session to a contract low on Wednesday and wheat dropped to its lowest in more than a week as prospects of bumper stocks worldwide continued to hammer grain markets.Soybeans edged higher, snapping four sessions of decline on expectations that buyers would emerge after the market plunged to a contract low on Tuesday.Chicago Board Of Trade December corn fell 0.1 percent to $3.68 a bushel by 0038 ...
Gold dips as Asian stocks climb; safe-haven bids keep losses in check SINGAPORE: Gold eased on Tuesday as Asian shares gained strength but the metal continued to stay above $1,300 an ounce as escalating tensions over conflicts in Ukraine and the Gaza strip burnished the metal's safe-haven appeal.Spot gold slipped 0.35 percent to $1,307 an ounce by 0554 GMT. It had gained as much as 0.6 percent in intraday trading on Monday, but failed to hold the gains and closed flat.Asian stocks touched a three-year peak on ...


Index Closing Chg%
Arrow DJIA 16,982.59 0.13
Arrow Nasdaq 4,444.91 0.10
Arrow S&P 1,978.91 0.03
Arrow FTSE 6,788.07 0.05
Arrow DAX 9,598.17 0.48
Arrow CAC-40 4,344.77 0.33
Arrow Nikkei 15,529.40 0.46
Arrow H.Seng 24,428.63 0.88
Arrow Sensex 25,991.23 0.52

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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln