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NY cocoa faces resistance at $3,270 SINGAPORE: New York December cocoa faces resistance at $3,270 per tonne, a break above which will lead to a further gain to $3,284.The resistance is at the 223.6 percent Fibonacci projection level of an upward wave C that started at the July 16 low of $3,051. This wave has much extended and may travel to $3,284 or $3,308, respectively the 238.2 percent and the 261.8 percent projection levels.However, these two targets could only be confirmed when cocoa breaks above $3,270. Given that the hourly RSI has formed a bearish divergence, chances are that cocoa may first retrace to $3,247, the 200 percent level.Wang Tao is a Reuters market analyst for commodities and energy technicals. 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 ...

Prompt sugar stuck below NY futures, ample supply weighs SINGAPORE: Thai raw sugar for prompt delivery held below New York futures this week as buyers turned their backs on the physical market and waited for discounts to widen further, dealers said on Tuesday.Second-largest exporter Thailand is facing stiff competition from rival Brazil and is struggling to sell millions of tonnes of sugar after harvesting a record 11 million tonnes in the just-ended 2013/14 seasonThai high polarisation, or hipol, raws stood at discounts of 20 ...
Palm hits new lows as fundamentals pull prices further JAKARTA: Malaysian palm oil prices sank to their lowest levels in almost five years on Tuesday as declining crude and soybean oil prices pushed them down.By Tuesday's close, the benchmark November contract on the Bursa Malaysia Derivatives Exchange had shed 1.05 percent to 2,066 ringgit ($655) per tonne, its lowest since October 2009. Total traded volume stood at 40,824 lots of 25 tonnes, above the daily traded average of 35,000 lots."The market is down and ...
Tokyo futures end up 0.3pc, near 2-month low TOKYO: Benchmark Tokyo rubber futures ended up 0.3 percent on Monday, hovering close to a two-month low amid worries about demand from top consumer China.The benchmark rubber contract on the Tokyo Commodity Exchange (TOCOM) for January delivery rose 0.6 yen to settle at 197.5 yen ($1.93) per kg. The contract hit an intraday low of 195.0 yen, the lowest since June 10.Tokyo rubber futures, which set the tone for tyre-grade prices, are likely to trade ...
Tokyo rubber in 10-yen range; supply dictates differentials SINGAPORE: Tokyo rubber futures, which set the tone for tyre-grade prices, are likely to trade in a tight 10-yen range this week as worries about demand from top consumer China prompt speculators to ditch contracts, dealers said on Monday.Among other soft commodities, Thai raw sugar prices will stay below New York futures as sellers struggle to find buyers, Indonesian robusta premiums show no signs of weakening, and cocoa butter ratios may weaken further this week.The ...
Palm oil flat as traders seek clues on direction JAKARTA: Malaysian palm oil was flat on Monday as traders awaited clearer signals on whether prices would extend last week's fall to near five year lows, pushing the market into oversold territory.By Monday's close, the benchmark August contract on the Bursa Malaysia Derivatives Exchange had inched down 0.29 percent to 2,087 ringgit ($661) per tonne."This is very reflective of the indecisiveness that the market has," said a trader with foreign commodities brokerage in Kuala Lumpur."The ...
Wheat slips on easing concerns over Black Sea supplies SINGAPORE/LONDON: US wheat slid 1 percent on Monday, giving back some of the strong gains made in the last two sessions, as fears of potential supply disruptions from the Black Sea region eased.New-crop corn edged higher to hover around Friday's one-month top on support from short covering while soybeans remained under pressure on expectations of record U.S. production.Chicago Board of Trade front-month wheat lost 1 percent to $5.46 a bushel by 1112 GMT, after climbing ...

 



 
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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 15, 2014
Reserves $14.264 bln