{"id":134271,"date":"2018-09-24T10:45:02","date_gmt":"2018-09-24T14:45:02","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=134271"},"modified":"2018-09-24T06:47:22","modified_gmt":"2018-09-24T10:47:22","slug":"soybeans-analysis-the-eu-increased-imports-of-us-soybeans","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/09\/soybeans-analysis-the-eu-increased-imports-of-us-soybeans\/","title":{"rendered":"Soybeans Analysis – The EU increased imports of US soybeans"},"content":{"rendered":"
September 24, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

The EU increased imports of US soybeans<\/strong><\/p>\n

The European Union increased imports of US soybeans. Will SOYB prices<\/a> continue rising?<\/p><\/blockquote>\n

Earlier in August, Jean-Claude Juncker, the European Commission president, promised to increase the volume of US soybean purchases in talks with US President Donald Trump in exchange to the easing of restrictions on imports of European cars to the US. Over the past 12 weeks, the supply of soybeans from the US to the EU increased by 133% to 1.47 million tons based on the data released at the end of the last week. The share of US soybeans in the European market increased to 52% from 25% in the same period of 2017. Thus, US authorities support their farmers. Earlier, China raised duties on US soybeans by 25% in response to the increase in duties on a number of Chinese goods by the US. Because of this, soybean prices have fallen by almost 30% since April of the current year, and on September 18, 2018 reached a 10-year low. Now they are trying to correct upward, as such a noticeable decline has increased the demand of consumers. An additional factor for the increase may be rainy weather in the US, if it hinders the crops and harvesting.<\/p>\n

\"SOYB\"<\/p>\n

On the daily timeframe, SOYB: D1<\/b> has updated the low since December 2008 and is trying to correct upward within the framework of the falling channel. A number of technical analysis indicators formed buy signals. The further price increase is possible in case of an increase in demand from non-Chinese buyers, as well as in case of the worsening of weather conditions in the US.<\/p>\n