{"id":107106,"date":"2017-06-09T09:53:23","date_gmt":"2017-06-09T13:53:23","guid":{"rendered":"http:\/\/countingpips.com\/?p=107106"},"modified":"2017-06-09T06:54:00","modified_gmt":"2017-06-09T10:54:00","slug":"coffee-technical-analysis-higher-expected-production-is-bearish-for-coffee-prices","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/06\/coffee-technical-analysis-higher-expected-production-is-bearish-for-coffee-prices\/","title":{"rendered":"COFFEE: Technical Analysis – Higher expected production is bearish for coffee prices"},"content":{"rendered":"
June 9, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

Higher expected production is bearish for coffee prices<\/strong><\/p>\n

Coffee production in Uganda and Ethiopia is expected to rise in 2017-18. Will coffee prices <\/a> continue falling?<\/p>\n

Combined coffee production in Ethiopia and Uganda will rise to an all-time high in 2017-18 season. Africa\u2019s two coffee growers, which are in the world top 10 coffee producers list, account for 60% of Africa\u2019s production. Total coffee production in Ethiopia and Uganda will hit 10.9m bags which will support a record high 7.31 bags of exports, according to the US Department of Agriculture estimate. Expected higher coffee output in Africa is bearish for coffee prices.<\/p>\n

\"Coffee\"<\/p>\n

On the daily chart COFFEE:D1 <\/b>is rising after trading with negative bias since mid-January. Price is below the 50 -day and 200-day moving averages MA(50) and MA(200), which are both falling and the gap between them is widening, which is a bearish signal.<\/p>\n