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Soybeans to retest resistance at $15.51-1/2  SINGAPORE: CBOT January soybeans are expected to retest a resistance at $15.51-1/2 per bushel, a break above which will lead to a further gain to $15.61-1/4.   The resistance is at the 50 percent Fibonacci retracement on the fall from $15.77 to $15.26-1/4. It has successfully stopped a the first round of the rebound from $15.26-1/4.   The rebound may consist of three waves, and is driven by the third wave - the wave c, which could go above the peak of the wave a.   The chart pattern from the Monday low of $15.26-1/4 looks symmetrical to the part between the Oct. 19 and the Oct. 23, indicating soybeans may climb to $15.61-1/4, the high touched on Oct. 22.   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 ...

Shanghai copper to rise to 57,430 yuan  SINGAPORE: Shanghai copper is expected to rebound to 57,430 yuan per tonne, as a short-term downtrend developing from the Sept. 19 high of 60,480 yuan has temporarily completed at 56,260 yuan.   The completion is indicated by the brief piercing of the price below a support at 56,490 yuan, the 61.8 percent Fibonacci retracement on the rise from 54,030 yuan to 60,480 yuan.   Another Fibonacci retracement analysis on the fall from 59,330 yuan to 56,260 yuan reveals a ...
CBOT corn faces resistance at $7.46-1/2  SINGAPORE: CBOT December corn faces a resistance at $7.46-1/2 per bushel, a break above which will open the way towards $7.55.   The resistance is at the 38.2 percent Fibonacci retracement on the fall from $7.69 to $7.32-1/2, blocking the way towards the 61.8 percent level at $7.55.   The break above the resistance will be confirmed valid should a higher level at $7.48 be reached.   Support is at $7.38, a fall below which may be extended to $7.32-1/2.   No information ...
Vietnam, Indonesia sign pact on 200,000 tonnes rice  HANOI: Vietnam and Indonesia have signed a memorandum of understanding under which the world's second-largest rice exporter could sell 200,000 tonnes of rice to Indonesian state procurement body Bulog, traders said on Wednesday.   Bulog and Vinafood 2, Vietnam's largest rice exporter, have yet to fix prices for the deal while Indonesia was looking at having the grain delivered before the end of 2012, traders at foreign companies in Ho Chi Minh City said.     Copyright Reuters, 2012 ...
Palm oil drops to 2-wk low on Indonesia tax, US storm  KUALA LUMPUR: Palm oil futures fell to a near 2-week low on Tuesday as investors feared lower November export taxes in top producer Indonesia could shift demand away from competitor Malaysia while fretting over a slowing global economy.   Prices of the edible oil also came under pressure from weaker Brent crude as Sandy, one of the worst storms to hit the United States in years, shuttered US refineries, curbing energy demand in the world's largest economy ...
Copper falls on growth, demand fears; await US GDP data  LONDON: Copper prices hit a 1-1/2 month low on Friday, and were on track to post their biggest weekly fall in 21 weeks, as doubts about the pace of global economic growth raised fears about the outlook for industrial metal demand.   Benchmark copper on the London Metal Exchange (LME) slipped to $7,778 a tonne at 0928 GMT, down 0.5 percent from Thursday's close of $7,815 a tonne.   Copper earlier hit its lowest level since early September at ...
London copper firms on Fed after 4 days of falls  SHANGHAI: London copper rose on Thursday, snapping four sessions of losses, on encouraging data from the United States and China, and after the US Federal Reserve announced its commitment to economic stimulus measures.   Three-month copper on the London Metal Exchange had climbed 0.7 percent to $7,874 per tonne by 0710 GMT, after dropping nearly 5 percent over the previous four sessions.   "The dollar will stay under pressure (as the Fed stimulus continues), which is supportive of commodities ...


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