{"id":126524,"date":"2018-05-11T09:22:52","date_gmt":"2018-05-11T13:22:52","guid":{"rendered":"http:\/\/countingpips.com\/?p=126524"},"modified":"2018-06-01T15:39:48","modified_gmt":"2018-06-01T15:39:48","slug":"soybeans-higher-chinese-crop-forecast-bearish-for-soybeans-prices","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/05\/soybeans-higher-chinese-crop-forecast-bearish-for-soybeans-prices\/","title":{"rendered":"Soybeans: Higher Chinese crop forecast bearish for soybeans prices"},"content":{"rendered":"
May 11, 2018<\/div>
\r\n<\/div><\/div>

By IFCMarkets<\/a><\/p>\n

Higher Chinese crop forecast bearish for soybeans prices<\/strong><\/p>\n

Lower Chinese imports forecast while the crop is expected to increase is bearish for soybeans. Will soybean prices<\/a> continue the decline?<\/p><\/blockquote>\n

China\u2019s Agriculture Ministry forecast country\u2019s soybean imports will fall for the first time in 15 years in 2018-19. The decline was estimated at 0.3% with imports amounting to 95.65 million tons. Higher prices as Beijing threatened to levy 25% retaliatory tariff on US soybeans after President Donald Trump ordered to prepare tariffs on imports from China were cited as a reason for lower demand. Meanwhile China’s own soybean production is forecast to grow, with 2018-19 output estimated to rise 4.9% percent to 15.27 million tons. Lower export demand and higher supply forecast is bearish for soybeans.<\/p>\n

\"Soybeans<\/p>\n

On the daily timeframe the SOYB: D1 <\/b> has been trading sideways after hitting sixteen-month high in the beginning of March. It is testing the support line currently.<\/p>\n