{"id":116937,"date":"2017-11-22T09:45:40","date_gmt":"2017-11-22T14:45:40","guid":{"rendered":"http:\/\/countingpips.com\/?p=116937"},"modified":"2018-06-01T15:49:08","modified_gmt":"2018-06-01T15:49:08","slug":"soybean-meal-technical-analysis-weather-affects-the-soybean-crop","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/11\/soybean-meal-technical-analysis-weather-affects-the-soybean-crop\/","title":{"rendered":"Soybean Meal : Technical Analysis &#8211; Weather affects the soybean crop"},"content":{"rendered":"<div id=\"inves-1793869759\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">November 22, 2017<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>By <a href=\"http:\/\/www.ifcmarkets.com\/\" target=\"_blank\" rel=\"noopener\">IFCMarkets<\/a><\/p>\n<p><strong>Weather affects the soybean crop<\/strong><\/p>\n<p>Soybean meal has increased in price on the background of the drought in Argentina. Will the increase in <a href=\"https:\/\/www.ifcmarkets.com\/en\/trading-conditions\/commodities\/soybm\">soybean meal quotes <\/a> continue?<\/p>\n<p>International Research Institute and the US Climate Prediction Center do not exclude the possibility of the formation of the natural phenomenon La Ni\u00f1a, which may noticeably deteriorate the weather in South America. Argentina is the world&#8217;s third soybean producer after the US and Brazil. An additional factor for the price growth may be the National Oilseed Processors Association (NOPA) report about the reduction in US producers\u2019 soybean oil stocks at the end of October 2017 to 1.224 bln pounds, compared with 1.343 bln pounds in October 2016. The export of soy products from the US increased in October to 643.2 thousand tonnes compared to 562.2 thousand tonnes in October of the last year. Soybean meal is a by-product of soybean processing.<\/p>\n<p style=\"text-align: center; margin-bottom: 20px; margin-top: 20px;\"><img decoding=\"async\" style=\"float: none;\" src=\"https:\/\/www.ifcmarkets.com\/uploads\/images\/21-11-2017.png\" alt=\"SOYBM\" width=\"660px\" \/><\/p>\n<p class=\"emailSummary\">On the daily timeframe, <b>SOYBM: D1<\/b> exceeded the resistance level of the downtrend and the 200-day moving average line. Further price growth is possible in case of the worsening of weather conditions and the reduction of world crop.<\/p>\n<ul class=\"emailSummary\">\n<li>The <b>Parabolic indicator <\/b> gives a bullish signal.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/bolinger-bands\">Bollinger bands <\/a> have narrowed, which means lower volatility. They are tilted upwards.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/rsi\">RSI indicator <\/a> is above 50. It has formed a positive divergence.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/macd\">MACD indicator <\/a> gives a bullish signal.<\/li>\n<\/ul>\n<p>The bearish momentum may develop in case <b>SOYBM<\/b> exceeds the upper Bollinger band and the last fractal high at 323. This level may serve as an entry point. The initial stop loss may be placed below the lower Bollinger band, the Parabolic signal and the last fractal low at 310. After opening the pending order, we shall move the stop to the next fractal low following the Bollinger and Parabolic signals. Thus, we are changing the potential profit\/loss to the breakeven point. More risk-averse traders may switch to the 4-hour chart after the trade and place there a stop loss moving it in the direction of the trade. If the price meets the stop level at 310 without reaching the order at 323, we recommend cancelling the position: the market sustains internal changes that were not taken into account.<\/p><div id=\"inves-272381924\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<h2 class=\"emailSummary\" style=\"margin-top: 15px !important;\">Summary of technical analysis<\/h2>\n<table style=\"border: solid 1px black;\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Position<\/b><\/td>\n<td align=\"left\" valign=\"top\">Buy<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Buy stop<\/b><\/td>\n<td align=\"left\" valign=\"top\">above 323<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Stop loss<\/b><\/td>\n<td align=\"left\" valign=\"top\">below 310<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Market Analysis provided by <a href=\"http:\/\/www.ifcmarkets.com\/\" target=\"_blank\" rel=\"noopener\">IFCMarkets<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By IFCMarkets Weather affects the soybean crop Soybean meal has increased in price on the background of the drought in Argentina. Will the increase in soybean meal quotes continue? International Research Institute and the US Climate Prediction Center do not exclude the possibility of the formation of the natural phenomenon La Ni\u00f1a, which may noticeably [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-116937","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/116937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=116937"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/116937\/revisions"}],"predecessor-version":[{"id":116967,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/116937\/revisions\/116967"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=116937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=116937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=116937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}