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CBOT corn to fall to $3.26-1/2 SINGAPORE: CBOT December corn is expected to break a weak support at $3.29-1/4 and fall more to $3.26-1/2 per bushel, driven by a wave iii.This is the third wave of a five-wave cycle that developed from the Sept. 16 high of $3.50-1/2. This wave may extend to its 161.8 percent projection level at $3.26-1/2.The big loss on Sept. 19 proves the fierce character of the wave iii, which makes the support at $3.29-1/4 look vulnerable. A rebound, once triggered, could be capped at $3.33-3/4, the 100 percent projection 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 legal advice regarding the products mentioned in the analyses. Copyright Reuters, 2014 ...

CBOT wheat to drop to $4.70-1/2 SINGAPORE: CBOT December wheat is expected to fall to $4.70-1/2 per bushel, as it has broken a support at $4.78.The support was at the 123.6 percent Fibonacci projection level of a downward wave 3, the third wave of a five-wave cycle that developed from the Aug. 28 high of $5.79-1/4. The next support will be at $4.70-1/2, the 138.2 percent level, a break below which will lead to a further loss to $4.58-1/4, the 161.8 ...
China Aug iron ore imports from Australia up 35pc BEIJING: China imported 47.1 million tonnes of iron ore from top supplier Australia in August, up 35 percent on the year to reach the second highest level on record, data from the country's customs authority showed on Monday.With global prices slumping nearly 40 percent this year on a surge in supply, low-cost Australian producers such as BHP Billiton and Rio Tinto have steadily increased their market share in China, the world's top consumer of iron ...
Palm slips to over-1-week low on technical correction, weak soy KUALA LUMPUR: Malaysian palm oil futures stretched losses into a second session on Monday to hit an over-one-week low, with palm weighed by losses in competing markets overseas and further technical correction.Although there is now a brighter outlook on demand for palm, thanks to an export duty cut on its crude grade, as well as anticipation that palm output may have already peaked in August, traders said the rally in benchmark prices has to be ...
Shanghai hits all-time low on China growth fears SINGAPORE: Shanghai rubber sank to an all-time low on Monday and Tokyo futures tumbled to their weakest in five years after speculators liquidated their positions ahead of key economic data from China, which could point to more economic slowdown.China's flash manufacturing PMI reading on Tuesday could come in below the 50 level, indicating manufacturing activity is contracting, after the country reported the slowest factory output growth in nearly six years.The most-active rubber contract on the ...
Spot gold may fall to $1,194 SINGAPORE: Spot gold is expected to test a support at $1,209 per ounce, with a good chance of breaking below this level and falling more to $1,194.The support is provided by the 176.4 percent Fibonacci projection level of a wave C that developed from the Aug. 8 high of $1,322.60. The next support will be at $1,194, the 200 percent level.So far there has not been any obvious bullish reversal signal to indicate a completion ...
LME aluminium to fall to $1,937 SINGAPORE: LME aluminium is expected to fall to $1,937 per tonne, as it has broken a support at $1,980.The support was provided by the 38.2 percent Fibonacci retracement on the rise from the May 21 low of $1,754.75 to the Sept. 2 high of $2,119. The next support will be at $1,937, the 50 percent level, a break below which will open the way towards $1,894, the 61.8 percent level.A sudden surge above $1,980 could ...

 



 
Index Closing Chg%
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklySeptember 25, 2014
Reserves $13.305 bln