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CBOT soybeans' target at $15.04-1/2 aborted SINGAPORE: A bullish target at $15.04-1/2 per bushel has been aborted for CBOT soybeans May contract as the doji forming on April 4 indicates a continuation of the retracement from the April 2 high of $14.96.The target has been indicated by a Fibonacci projection analysis of an upward wave C, which started at the Nov. 5, 2013 low of $12.24. The analysis also reveals that this wave C may peak around the 161.8 percent projection level at $15.04-1/2.An unexpected rise to $15.04-1/2 will be considered the last effort by bulls to push soybeans up, and this target will only be confirmed when the April 4 high of $14.87 is exceeded.A break below $14.63-3/4, the 138.2 percent projection level, will open the way towards the 123.6 percent level at $14.38-1/2.The views expressed are his own.No information in this analysis should be considered as being business, financial or legal advice. Each reader ...

CBOT corn's target adjusted to $4.81 SINGAPORE: A bearish target at $4.76-1/4 per bushel has been adjusted to $4.81 for CBOT May corn, based on the speed of the fall.Corn has completed a rebound from the Jan. 10 low of $4.14-1/2 around the resistance at $5.14-1/2, the 38.2 percent Fibonacci retracement on the fall the Sept. 6, 2012 high of $6.76-1/2 to this low. The completion has been indicated by a subdivision of this rebound into five small waves.Another Fibonacci retracement ...
China sets 2014 cotton price BEIJING: China's top economic planning body on Saturday set a 2014 target price of 19,800 yuan ($3,200) per tonne for cotton.The target price was set based on production cost and basic returns, the National Development and Reform Commission said on its website.Farmers can sell cotton at market prices and will receive subsidies from the government if market prices fall below the target price, the commission added.Beijing scrapped its controversial cotton stockpiling policy this year and ...
CBOT corn still targets $4.76-1/4 SINGAPORE: A bearish target at $4.76-1/4 per bushel remains unchanged for CBOT May corn, as it may have peaked around resistance at $5.14-1/2.Resistance is provided by the 38.2 percent Fibonacci retracement on the fall from the Sept. 6, 2012 high of $6.76-1/2 to the Jan. 10 low of $4.14-1/2. A five-wave cycle rising from $4.14-1/2 happened to end around this level.A correction seems to have been triggered, towards the 23.6 percent retracement at $4.76-1/4. Even ...
CBOT wheat to end rebound below $6.83-1/2 SINGAPORE: CBOT May wheat is expected to end the current weak rebound below a resistance at $6.83-1/2 per bushel, and then fall towards a support at $6.58-1/2.The rebound has been triggered by a higher support at $6.71-3/4, the 38.2 percent Fibonacci retracement on the rise from the Feb. 27 low of $5.88-1/4 to the March 20 high of $7.23-1/2.Another Fibonacci retracement on a longer trend from the Jan. 30 low of $5.53-1/2 to the same ...
NY sugar to test resistance at 17.36 cents SINGAPORE: New York May sugar is expected to test resistance at 17.36 cents per lb, a break above which will lead to a further gain to 17.79 cents.Resistance has been established at the 38.2 percent Fibonacci retracement on the rise from the Feb. 12 low of 15.57 cents to March 6 high of 18.47 cents.With sugar approaching this barrier, chances are it may break above it and rise further, as a corrective wave cycle falling ...
NY cocoa to rebound to $2,933 SINGAPORE: New York May cocoa seems to have stabilized around a support at $2,916 per tonne and may rebound to a resistance at $2,933. The support has been established around the 76.4 percent Fibonacci projection level of a downward wave c, which failed to extend towards $2,888, its 100 percent projection level. Cocoa seems to be moving towards the 61.8 percent projection level at $2,933, a break above which will lead to a further gain ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln