{"id":135724,"date":"2018-10-19T10:25:47","date_gmt":"2018-10-19T14:25:47","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=135724"},"modified":"2018-10-19T07:15:46","modified_gmt":"2018-10-19T11:15:46","slug":"rice-analysis-rising-us-exports-are-bullish-for-rice-price","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/10\/rice-analysis-rising-us-exports-are-bullish-for-rice-price\/","title":{"rendered":"RICE Analysis – Rising US exports are bullish for rice price"},"content":{"rendered":"
October 19, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

Rising US exports are bullish for rice price<\/strong><\/p>\n

US export sales rose last week while crop estimate was reduced. Will the rice price<\/a> continue rising?<\/p><\/blockquote>\n

The US Department of Agriculture cut the 2018\/19 US rice crop estimate in this month\u2019s WASDE report by 0.7 million hundredweight (cwt) to 218.8 million on lower yields. The average yield forecast was lowered 24 pounds per acre to 7,539 pounds. And rice ending stocks were lowered 0.7 million cwt to 44.2 million as no other supply and demand changes were made this month. And the weekly export sales report indicated another boost in net sales nearing a total of 58,000 MT for the last week. Increased US exports sales and reduced crop estimate are bullish for rice price.<\/p>\n

\"Rice<\/p>\n

On the daily timeframe the RICE: D1<\/b> has been rising after hitting 4-month low in mid-September. It has remained above the 50-day moving average MA(50) after testing it and has breached above the resistance line.<\/p>\n