Monthly Commodity Markets Roundup

Mar 2013

Markets performance
Units Mar2013 % chg % chg
(MoM) (Year to
date)
Index
Vegetable oils
SBO @ CBOT US c/ lb 50.11 2.64% 1.93% > Market performance
CPO @ BMD MYR / T 2,378.00 -0.79% -2.46%
RBD Olein, FOB, Mly US$ /T 812.50 0.00% 1.88% > Market Brief
SBO, FOB, Arge US$ /T 1,025.00 -4.21% -6.82%
Sunoil, Ex NWE /T 1,205.00 -2.03% -4.74%
Rapeoil, FOB, Dutch > Market visuals
/T 912.00 1.56% 1.33%
CPO, cif, Rotterdam Spreads Corner
/T 845.00 0.00% 4.32%
CSBO degummed, Ex NWE Macroeconomic gauge
/T 867.00 1.76% 0.58%
Softs and Plantations Traders positions (CFTC)
Sugar 11 @ ICE 17.66 -3.92% -9.48%
Price charts - Agriculture
USc /lb
Rubber @ TOCOM JPY /kg 274.00 -6.48% -9.42%
Price charts - Energy
Cocoa @ ICE US$ /T 2,170.00 1.12% -2.95%
Price charts - Indices
Coffee C @ ICE USc /lb 137.15 -3.86% -4.62% Price charts Currency & Treasury
Tea, Best BP1, Kenya US$ / kg 3.50 -18.22% -19.72%
yield
Energy and Metals
Crude oil @ NYMEX US$ /barrel 97.23 5.63% 5.89%
Gold spot US$ /troy oz 1,597.49 1.12% -4.59%
Silver spot US$ /oz 28.32 -0.67% -6.57%
Copper @ LME US$ /T 7,540.00 -3.52% -4.93%
Aluminum @ LME US$ /T 1,904.00 -5.04% -8.15%
Zinc @ LME US$ /T 1,897.00 -8.14% -8.80%
Indices
DJIA 14,578.54 3.73% 11.25%
FTSE 100 6,411.74 0.80% 8.71%
Strait times 3,308.10 1.17% 4.45%
S&P GSCI 655.05 1.05% 1.31%
Currencies
US Dollar Index 83.2210 1.55% 4.33%
GBP / USD 1.5201 0.27% -6.46%
EUR / USD 1.2818 -1.82% -2.85%
USD / JPY 94.1900 1.79% 8.59%
USD / SGD 1.2402 0.15% 1.57%
USD / MYR 3.0920 0.03% 1.14%
USD / BRL 2.0235 2.22% -1.17%
 Monthly Commodity Market Roundup Mar 2013
Market Brief Vegetable oils

Vegetable oils
Vegetable oil markets traded in a choppy manner with negative bias in Mar2013.
Anticipated decline in palm oil inventory in the first half of current calendar year following a seasonal drop
in production though supported the prices near the recent lows, tepid demand constantly weighed on
markets.
Global consumption of eight major oils for MY 2012/13 is projected to expand by 5.8 million tons year on
year to 155.9 mln.T. Consumption in food and feed use segments is forecasted to grow by 5 million tons
while the consumption in industrial use segment was projected to expand by only 0.75 million tons.
Macroeconomic concerns in EU is expected to impact the biodiesel consumption in the region.
Global production of eight major vegetable oils for MY 12/13 is forecasted to grow by 2.1 million tons to
157.8 mln.T. Production of plantation based vegetable oils projected to expand by 3.4 million tons with
majority of growth coming from Palm oil. This was able to more than offset the decline in seed oils output
which is expected to have declined by 1.33 million tons y/y following a decline in rapeseed and sunflower
oil output.
Palm oil production performance in Malaysia and Indonesia in the coming three month period coupled with
palm oil export demand and changes in stock levels will hold key for the price development. With new
Marketing year planting season approaching, weather developments in Northern hemisphere will be keenly
monitored.

Global vegetable oil production, consumption and stocks World vegetable oil ending stocks and stocks to use trends
qty in mln.T 2009/10 2010/11 2011/12 2012/13 y/y chg
20 13%
Vegetable oil production
Soybean oil 38.8 41.3 42.4 43.2 0.78 18 13%
Rapeseed oil 22.6 23.5 24.3 23.8 -0.49 16 12%
Sunflower oil 12.1 12.3 15.1 13.8 -1.33
ending stocks in mln.T

14 12%
Groundnut oil 4.7 5.0 5.1 5.3 0.22
12 11%

stocks to use, %
Cottonseed oil 4.6 5.0 5.3 5.3 0.01
Olive oil 3.1 3.3 3.4 2.9 -0.52 10 11%
Oilseed based, Sub total 85.9 90.4 95.5 94.2 -1.33 8 10%
Palm oil 45.9 47.9 50.7 53.8 3.13
6 10%
Palm Kernel oil 5.5 5.6 5.9 6.3 0.34
Coconut oil 3.6 3.8 3.6 3.5 -0.04
4 9%
Plantation based, Sub total 55.0 57.3 60.2 63.6 3.43 2 9%
Total Production 140.9 147.7 155.7 157.8 2.1 0 8%
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Vegetable oil consumption
Food and Feed use 108.2 111.6 115.0 120.0 5.04
Industrial use 30.4 32.8 35.2 36.0 0.75
Total Consumption 138.6 144.5 150.2 156.0 5.79
all veg oil stocks palm oil stocks
Ending stocks 13.8 14.2 17.5 16.9 -0.66 sbo stocks stocks to use, all veg oils, RHS

Malaysian palm oil (crude and processed) monthly stock trend. Palm oil spread against other oils

Source: MPOB, USDA, Reuters and Pacrim research

-2- Pacific Rim Plantation Services Pte Ltd

 Monthly Commodity Market Roundup Mar 2013

Soybean
Soybean prices though traded firm in the first half of Mar2013 gave up in the second half as the harvest in
South America gathered pace. More than 2/3rd of soybean crop was reported harvested in Brazil while the
same in Argentina was estimated at 10%.
Soybean stocks in US by Mar first week were reported higher than anticipated by the market (+60 million
bushels over expectation) in the latest quarterly stocks update by USDA. This increases the probability of
USDA revising higher the year ending stocks estimate from the current level of 125 mb in its upcoming
Apr2013 monthly S/D bulletin.
First prospective planting intentions survey in US indicated a marginal decline in US soybean acreage to
77.1 million acres for MY 13/14 vs. 77.2 mln. acres in MY 12/13. This is in comparison to the market
anticipated increase of 1.2 million acre y/y. Acreage growth expectations along with weather developments
will be keenly monitored in the coming period.

Soybean crush in US, monthly US soybean weekly

US export
soybeanshipment trends,
cumulative in million tons
exports
170 45
soybean crush in US, mln.bushels

160
Projected exp f or 2012-13 at 36.605 mt
40

accumulated exp in mt
150 35
140
30
130
25
120
20
110
2012-13 2011-12 15
100
90 5 yr min 5 yr max 10
80 5
Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug 0
2011-12 2012-13 5 yr max 5yr min W1 W5 W9 W13 W17 W21 W25 W29 W33 W37 W41 W45 W49 W53

Soybean Crush margin, in US$ /T of bean crushed Soybean to Corn price ratio
200
soybean crush margin, US$/T of bean

150

100

50

-50

-100

-150
Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13

US Brazil China (f ront month f utures at DCE)

-3- Pacific Rim Plantation Services Pte Ltd

 Monthly Commodity Market Roundup Mar 2013

Corn
Corn broke lower towards the end of month following a bearish stocks report from USDA which suggests
that recent high prices had probably impacted the corn demand in feed segment. US corn exports are
already running behind the pace required to meet USDAs projected yearend total. Though corn grind for
ethanol production was expected to be supportive following an improvement in ethanol grind margins,
weak demand signals from other segments could be a cause of concern.

Corn ending stocks and stocks to use trends, US and Rest of World
US US corn
corn weekly
export export
trends shipment
in MY 2012/13trends, in million tons
(ROW)
250 40%
70
Projected exp for 2012-13 at 22.5 mt

accumulated exp in mt
35% 60
200
30% 2012-13 2011-12
Ending stocks in mln.T

5 yr avg 5 yr min

stocks to use, %
50
150 25% 5 yr max
20% 40
100 15%
30
10%
50
5%
20

0 0% 10
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013

0
ROW Ending stocks US Ending Stocks
W1 W5 W9 W13 W17 W21 W25 W29 W33 W37 W41 W45 W49 W53
ROW stks 2 use, RHS US stlks 2 use, RHS

Corn export prices from top Origins, US$/T Corn vs. Ethanol in US
3.0 3.5
400
2.5
Margin, in US$ per bushel of corn

3.0

Corn and Ethanol market prices

350
Corn export prices at origin, in

2.0
2.5
1.5
300
1.0 2.0

250 0.5 1.5

US$/T

0.0
200 1.0
-0.5
150 0.5
-1.0

-1.5 0.0
100
D-07

D-08

D-09

D-10

D-11

D-12
J-08

J-09

J-10

J-11

J-12
S-07

S-08

S-09

S-10

S-11

S-12
M-08

M-09

M-10

M-11

M-12

M-13
Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13
Margin per bushel of corn, with out DDG Margin per bushel of corn, with DDG revenue
FOB US Gulf FOB Argentina Sao Paulo, Brazil Ethanol, in USD/gallon, RHS Corn, US$ per gallon of ethanol, RHS

Source: USDA, Reuters and Pacrim research

-4- Pacific Rim Plantation Services Pte Ltd

 Monthly Commodity Market Roundup Mar 2013

Market Visuals
Spreads corner
Soybean to Corn price ratio SBO FOB vs. RBD Olein FOB

Coconut oil vs Palm kernel oil CPO CIF vs. CPKO CIF

Sugar white premium Brent crude premium over WTI, Brent @ICE vs. WTI @ NYMEX

Source: Reuters and Pacrim research

-5- Pacific Rim Plantation Services Pte Ltd

 Monthly Commodity Market Roundup Mar 2013

Macroeconomic gauge
Unemployment rate in US, UK, EURO ZONE, Germany and JPY (%) Manufacturing index in US, GBP, JPY, Germany and China (% y/y)

Automobile sales in US and China US survey indexes, ISM mgf and services, CB consumer confidence

Key interest rates, in % Consumer price inflation (YoY), %

Source: Reuters, IMF and Pacrim research

-6- Pacific Rim Plantation Services Pte Ltd

 Monthly Commodity Market Roundup Mar 2013

Traders positions vs. Price

Soybean at CBOT Soybean oil at CBOT

1800
250

Speculative Net Speculative Net

60
Close price,RHS Close price,RHS

price, USc/bushel
1400

50

price, USc/lb
150

50
'000 lots

'000 lots
1000

40
0
50

30
0

600

-50
-50

2007 2008 2009 2010 2011 2012 2013 2007 2008 2009 2010 2011 2012 2013

Corn at CBOT Crude oil at NYMEX

350

140
800
Speculative Net Speculative Net
400

Close price,RHS Close price,RHS

price, USc / bushel

price, US$/barrel
250
200 300

600

60 80 100
'000 lots

'000 lots
150
400
100

50

40
0

200

2007 2008 2009 2010 2011 2012 2013 2007 2008 2009 2010 2011 2012 2013
Gold at COMEX Copper at COMEX

450
1800

30

Speculative Net Speculative Net

250

Close price,RHS Close price,RHS

20
price, USD / t.oz

price, USc / lb
350
1400
150 200

0 10
'000 lots

'000 lots

250
1000

-10
100

150
600
50

-30

2007 2008 2009 2010 2011 2012 2013 2007 2008 2009 2010 2011 2012 2013
Sugar No:11 at ICE Cotton No:2 at ICE
200
80

Speculative Net Speculative Net

60

Close price,RHS Close price,RHS

20 40 60
50

price, USc / lb
150
price, USc/lb
50
'000 lots

'000 lots
40

100
0

0
30

-20
-50

50

2007 2008 2009 2010 2011 2012 2013 2007 2008 2009 2010 2011 2012 2013

Source: CFTC and Pacrim research

-7- Pacific Rim Plantation Services Pte Ltd

 Monthly Commodity Market Roundup Mar 2013
Price charts - Agriculture
CPO futures at BMD, weekly continuous SBO futures at CBOT, weekly continuous
@:FCPOc3 - Weekly 4/1/2013 Open 2369, Hi 2380, Lo 2335, Close 2337 (-1.7%) Vol 31,364 @:BOc1 - Weekly 4/1/2013 Open 49.81, Hi 50.5, Lo 49.32, Close 50.06 (-0.1%) Vol
70.0
4,200
52.5773
60.0
3,600 51.2191
50.5033
50.06
50.0
2,931.15
3,000
2,638.67
2,449.93 40.0
2,400
2,337

30.0
1,800

20.0
1,200
2005 2006 2007 2008 2009 2010 2011 2012 2013 2005 2006 2007 2008 2009 2010 2011 2012 2013
@:FCPOc3 - Stochastic %D(9,3,3) = 31.20701, Stochastic %K(9,3) = 21.86169 90.0 @:BOc1 - Stochastic %D(9,3,3) = 33.52785, Stochastic %K(9,3) = 34.11255 100.0
80.0
70.0
60.0
34.1125
50.0
40.0
33.5279
31.207
30.0
20.0
21.8617
10.0
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com

Soybean futures @ CBOT, weekly continuous Corn futures @ CBOT, weekly continuous
@:Sc1 - Weekly 4/1/2013 Open 1401.5, Hi 1408.25, Lo 1386.25, Close 1390.75 (-1.0%) @:Cc1 - Weekly 4/1/2013 Open 679, Hi 679, Lo 636.5, Close 642.25 (-7.6%) Vol 0 MA(Close,15)
1,800
800
1,519.53 725.617
1,600
1,437.03 706.367
700
688.093
1,401.05
1,400
1,390.75 642.25
600
1,200
500
1,000
400
800
300
600
200
2005 2006 2007 2008 2009 2010 2011 2012 2013 2005 2006 2007 2008 2009 2010 2011 2012 2013
@:Sc1 - Stochastic %D(9,3,3) = 27.33700, Stochastic %K(9,3) = 14.14307 100.0 @:Cc1 - Stochastic %D(9,3,3) = 42.89809, Stochastic %K(9,3) = 27.07482
90.0
80.0
70.0
60.0
50.0
40.0 42.8981
27.337 30.0
27.0748
20.0
14.1431 10.0
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com

Rubber Rss3 futures at TOCOM, weekly continuous Sugar No:11 futures at ICE, weekly continuous
@:JRUc6 - Weekly 4/1/2013 Open 274.5, Hi 277, Lo 266.1, Close 266.9 (-2.6%) Vol 12,573 540.0 @:SBc2 - Weekly 4/1/2013 Open 17.66, Hi 17.78, Lo 17.64, Close 17.72 (0.1%) Vol 0 MA(Close,15)

480.0 30.0

420.0
25.0
360.0 22.3689
300.48 19.8093
300.0
299.223 20.0
18.464
266.9 17.72
240.0
265.698
15.0
180.0

10.0
120.0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2005 2006 2007 2008 2009 2010 2011 2012 2013
@:JRUc6 - Stochastic %D(9,3,3) = 12.91291, Stochastic %K(9,3) = 6.96050 @:SBc2 - Stochastic %D(9,3,3) = 37.47461, Stochastic %K(9,3) = 18.53785
90.0 90.0
70.0 70.0
50.0 50.0
30.0 37.4746
30.0
12.9129
10.0 18.5378
10.0
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com

Wheat futures @ CBOT, weekly continuous Cotton futures @ ICE, weekly continuous
@:Wc2 - Weekly 4/1/2013 Open 687.25, Hi 692.25, Lo 664.75, Close 669 (-3.2%) Vol 0 1,400 @:CTc1 - Weekly 4/1/2013 Open 88.71, Hi 89.28, Lo 87.26, Close 87.39 (-1.2%) Vol 0 MA(Close,15)
220.0

1,200 200.0
180.0
1,000 160.0
809.989 140.0
741.517
800
738.128 120.0
669 91.3126
100.0
600 87.39
80.0
82.5973
76.1049
60.0
400
40.0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2005 2006 2007 2008 2009 2010 2011 2012 2013
@:Wc2 - Stochastic %D(9,3,3) = 23.82406, Stochastic %K(9,3) = 17.04838 90.0 @:CTc1 - Stochastic %D(9,3,3) = 68.76085, Stochastic %K(9,3) = 57.06884 100.0
80.0
70.0 68.7608
50.0 60.0
57.0688
40.0
30.0
23.8241 20.0
10.0
17.0484
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com

Source: Reuters and Pacrim research

-8- Pacific Rim Plantation Services Pte Ltd

 Monthly Commodity Market Roundup Mar 2013
Price Charts Energy and Metals
Brent Crude oil, US$ / barrel, weekly Natural Gas at NYMEX,
@:LCOc1 - Weekly 4/1/2013 Open 110.15, Hi 111.33, Lo 109.38, Close 111.08 (1.0%) @:NGc1 - Weekly 4/1/2013 Open 3.969, Hi 4.044, Lo 3.934, Close 4.015 (-0.2%) Vol 0 MA(Close,15)
16.0
140.0
14.0
112.333
120.0
111.64 12.0
111.08
109.328
100.0 10.0

8.0
80.0
6.0
60.0
4.015
4.0
3.53553
40.0 3.28985
2.0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2005 2006 2007 2008 2009 2010 2011 2012 2013 3.23691
@:LCOc1 - Stochastic %D(9,3,3) = 17.35748, Stochastic %K(9,3) = 22.27484 90.0 @:NGc1 - Stochastic %D(9,3,3) = 91.25880, Stochastic %K(9,3) = 89.57654 91.2588
90.0
70.0 89.5765
70.0
50.0 50.0
22.2748
30.0 30.0
17.3575
10.0 10.0
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com

Gold, weekly, US$ / oz Silver, spot, weekly, USc/oz.

@:GCc1 - Weekly 4/1/2013 Open 1596.8, Hi 1600.5, Lo 1594.8, Close 1600 (0.3%) Vol @:SIc1 - Weekly 4/1/2013 Open 2796, Hi 2797.5, Lo 2785.5, Close 2791.3 (-1.3%) Vol
1,657.94
4,800
1,800
1,657.83
1,624.31 4,200
1,600
1,600
3,236.01
3,600
1,400 3,041.74
2,973.17
3,000
1,200
2,791.3
1,000 2,400

800 1,800

600 1,200

400 600
2005 2006 2007 2008 2009 2010 2011 2012 2013 2005 2006 2007 2008 2009 2010 2011 2012 2013
@:GCc1 - Stochastic %D(9,3,3) = 30.93632, Stochastic %K(9,3) = 34.47971 @:SIc1 - Stochastic %D(9,3,3) = 13.89601, Stochastic %K(9,3) = 8.39462 100.0
90.0
80.0
70.0
60.0
50.0
34.4797 40.0
30.0
30.9363 20.0
10.0 13.896
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com

Copper at LME, 3M forward, weekly, US$ /T Zinc at LME, 3M forward, weekly, US$/T
MCU3 - Weekly 3/28/2013 Open 7645, Hi 7668, Lo 7540, Close 7540 (-1.5%) Vol 3,577 MZN3 - Weekly 3/28/2013 Open 1941, Hi 1944, Lo 1886, Close 1897 (-2.8%) Vol 3,336
10,000
4,200
8,128.02
9,000
7,928.03
7,813.32
8,000 3,600
7,540
7,000 3,000

6,000 2,049.67
2,400
2,027.29
5,000 1,965.3
1,897
1,800
4,000

3,000 1,200
2005 2006 2007 2008 2009 2010 2011 2012 2013 2005 2006 2007 2008 2009 2010 2011 2012 2013
MCU3 - Stochastic %D(9,3,3) = 11.37242, Stochastic %K(9,3) = 10.19402 90.0 MZN3 - Stochastic %D(9,3,3) = 7.58669, Stochastic %K(9,3) = 7.06506
90.0
70.0 70.0
50.0 50.0
30.0 30.0
11.3724
10.0 10.0
7.58669
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com

Aluminium at LME, 3M forward, weekly, US$ /T Lead at LME, 3M forward, weekly, US$/T
MAL3 - Weekly 3/28/2013 Open 1940, Hi 1940, Lo 1900.5, Close 1904 (-2.2%) Vol 6,249 MPB3 - Weekly 3/28/2013 Open 2196, Hi 2196, Lo 2108, Close 2112 (-3.5%) Vol 1,313

3,200 3,600

2,800 3,000
2,302.03
2,400 2,180.46
2,150.74 2,400
2,130.97
2,040.43 2,112
1,996.28
2,000
1,904 1,800

1,600
1,200

2005 2006 2007 2008 2009 2010 2011 2012 2013 2005 2006 2007 2008 2009 2010 2011 2012 2013
MAL3 - Stochastic %D(9,3,3) = 7.99282, Stochastic %K(9,3) = 7.14467 MPB3 - Stochastic %D(9,3,3) = 9.40957, Stochastic %K(9,3) = 7.89176 100.0
90.0
80.0
70.0
50.0 60.0
40.0
30.0
20.0
10.0
7.99282 9.40957
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com

Source: Reuters and Pacrim research

-9- Pacific Rim Plantation Services Pte Ltd

 Monthly Commodity Market Roundup Mar 2013
Indices, weekly charts
DowJones Industrial Average, US S & P 500, US
.DJI - Weekly 4/1/2013 Open 14578.5, Hi 14605.7, Lo 14531.5, Close 14572.8 (-0.0%) 15,000 .INX - Weekly 4/1/2013 Open 1569.18, Hi 1570.57, Lo 1558.47, Close 1562.17 (-0.4%) 1,600
14,572.8 1,562.17
14,000
14,003.8 1,500
1,514.31
13,369.2 1,436.25
13,000 1,400
12,745.6 1,353.58
12,000 1,300

1,200
11,000
1,100
10,000
1,000
9,000
900
8,000
800
7,000
700
2005 2006 2007 2008 2009 2010 2011 2012 2013 2005 2006 2007 2008 2009 2010 2011 2012 2013
.DJI - Stochastic %D(9,3,3) = 97.44691, Stochastic %K(9,3) = 97.13841 97.4469 .INX - Stochastic %D(9,3,3) = 95.11153, Stochastic %K(9,3) = 93.58084 95.1115
90.0 90.0
97.1384
70.0 93.5808
70.0
50.0 50.0
30.0 30.0
10.0 10.0
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com

FTSE-100, UK Strait Times Index, Singapore

.FTSE - Weekly 3/28/2013 Open 6392.76, Hi 6458.53, Lo 6344.19, Close 6411.74 (0.3%) .FTSTI - Weekly 4/1/2013 Open 3313.37, Hi 3314.67, Lo 3306.17, Close 3309.04 (0.0%) 4,000
6,600
6,411.74
6,263.14 3,500
6,000 3,309.04
5,901.74
5,750.51 3,264.5
3,000
3,092.7
5,400
2,987.8

4,800 2,500

4,200 2,000

3,600 1,500
2005 2006 2007 2008 2009 2010 2011 2012 2013 2005 2006 2007 2008 2009 2010 2011 2012 2013
.FTSE - Stochastic %D(9,3,3) = 83.33341, Stochastic %K(9,3) = 71.69425 .FTSTI - Stochastic %D(9,3,3) = 69.57337, Stochastic %K(9,3) = 71.36202 100.0
90.0
83.3334 71.362
80.0
70.0 69.5734
71.6943 60.0
50.0
40.0
30.0 20.0
10.0 0.0
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Shangai Composite Index, China NSE NIFTY, India

.SSEC - Weekly 4/1/2013 Open 2229.46, Hi 2243.95, Lo 2227.31, Close 2234.4 (-0.1%) .NSEI - Weekly 4/1/2013 Open 5697.35, Hi 5720.95, Lo 5675.9, Close 5704.4 (0.4%) Vol
6,000
5,882.08
6,000
5,704.4
5,000 5,400
5,606.74
5,369.06
4,800
4,000
4,200

3,000
2,366.79 3,600
2,314.36
2,234.4 3,000
2,000
2,199.96
2,400

1,000
2005 2006 2007 2008 2009 2010 2011 2012 2013 2005 2006 2007 2008 2009 2010 2011 2012 2013
.SSEC - Stochastic %D(9,3,3) = 25.26168, Stochastic %K(9,3) = 17.36927 .NSEI - Stochastic %D(9,3,3) = 24.67019, Stochastic %K(9,3) = 14.11872
90.0 90.0
70.0 70.0
50.0 50.0
30.0
25.2617 30.0
24.6702
10.0
17.3693 10.0
14.1187
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S & P Goldman Sachs Commodity Index, weekly VIX (Volatility Index)

.SPGSCI - Weekly 4/1/2013 Open 652.96, Hi 654.78, Lo 649.18, Close 653.096 (-0.3%) 900 .VIX - Weekly 4/1/2013 Open 13.46, Hi 14.05, Lo 13.26, Close 13.58 (6.9%) Vol 0 MA(Close,15)
90.0

80.0
800
70.0
656.945
700
655.174 60.0
653.096
645.222
600 50.0

40.0
500
30.0
20.274
400 15.8376
20.0
13.794
13.58
300 10.0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2005 2006 2007 2008 2009 2010 2011 2012 2013
.SPGSCI - Stochastic %D(9,3,3) = 29.28994, Stochastic %K(9,3) = 31.17307 90.0 .VIX - Stochastic %D(9,3,3) = 19.53956, Stochastic %K(9,3) = 27.13649
80.0
70.0 60.0
50.0
31.1731 40.0
27.1365
30.0
29.2899 20.0
19.5396
10.0 0.0
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Source: Reuters and Pacrim research

-10- Pacific Rim Plantation Services Pte Ltd

 Monthly Commodity Market Roundup Mar 2013
Currencies, weekly charts
US Dollar Index spot GBP / USD
.DXY - Weekly 4/1/2013 Open 83.046, Hi 83.181, Lo 82.647, Close 82.733 (-0.6%) Vol 0 GBP= - Weekly 4/1/2013 Open 1.5205, Hi 1.5241, Lo 1.5176, Close 1.5227 (0.2%) Vol 0
92.0 2.100

2.000
88.0
1.900

84.0 1.800
82.733
81.1215 1.700
80.0 1.58521
81.0956
1.57559
79.2364 1.600
1.55279
76.0 1.5227
1.500

72.0 1.400

2005 2006 2007 2008 2009 2010 2011 2012 2013 2005 2006 2007 2008 2009 2010 2011 2012 2013
88.5849
.DXY - Stochastic %D(9,3,3) = 85.85774, Stochastic %K(9,3) = 88.58490 90.0 GBP= - Stochastic %D(9,3,3) = 29.78979, Stochastic %K(9,3) = 37.42267 90.0
85.8577
70.0 70.0
50.0 50.0
37.4227
30.0 30.0
29.7898
10.0 10.0
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EUR / USD USD / JPY

RD-EUR= - Weekly 4/1/2013 Open 1.2813, Hi 1.2867, Lo 1.277, Close 1.2847 (0.2%) Vol 1.620 RD-JPY= - Weekly 4/1/2013 Open 94.18, Hi 94.37, Lo 93.16, Close 93.21 (-1.0%) Vol 0

1.560 120.0

1.500
110.0
1.440

1.380
1.32644 100.0
1.31801
1.320
1.28633 93.21
1.2847 90.0
92.214
1.260
83.8511
1.200 81.0808
80.0

2005 2006 2007 2008 2009 2010 2011 2012 2013 2005 2006 2007 2008 2009 2010 2011 2012 2013
RD-EUR= - Stochastic %D(9,3,3) = 13.48260, Stochastic %K(9,3) = 11.37277 RD-JPY= - Stochastic %D(9,3,3) = 71.81235, Stochastic %K(9,3) = 58.25887
90.0 90.0
70.0 71.8123
70.0
50.0 58.2589
50.0
30.0 30.0
13.4826
10.0 10.0
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USD / SGD USD / MYR

SGD= - Weekly 4/1/2013 Open 1.2405, Hi 1.2429, Lo 1.2394, Close 1.2399 (-0.0%) Vol MYR= - Weekly 4/1/2013 Open 3.093, Hi 3.098, Lo 3.091, Close 3.092 (0.0%) Vol 0 MA(Close,15)
1.700 3.800

3.700
1.600 3.600

3.500
1.500
3.400

3.300
1.400
3.200
3.09407
1.300 3.100
3.092
1.24793
3.07917
1.2399 3.000
3.07893
1.2398
1.200
2005 2006 2007 2008 2009 2010 2011 2012 2013 1.23675 2005 2006 2007 2008 2009 2010 2011 2012 2013
SGD= - Stochastic %D(9,3,3) = 67.85773, Stochastic %K(9,3) = 51.04967 90.0 MYR= - Stochastic %D(9,3,3) = 71.04939, Stochastic %K(9,3) = 48.96008 100.0
70.0 80.0
67.8577 71.0494
50.0 60.0
51.0497 48.9601
40.0
30.0
20.0
10.0
0.0
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10 year treasury yield, North America 10 year treasury yield, EU

Source: Reuters and Pacrim research

-11- Pacific Rim Plantation Services Pte Ltd

 Monthly Commodity Market Roundup Mar 2013

Disclaimer: The research presented in this document is based on the information obtained from sources
we believe to be reliable, but we do not make any representation or warranty nor accept any responsibility
or liability as to its accuracy, completeness or correctness. Nothing contained herein shall be construed as
a recommendation to buy or sell cash commodities, commodity futures or options on futures.

-12- Pacific Rim Plantation Services Pte Ltd