{"id":136034,"date":"2018-10-25T11:01:00","date_gmt":"2018-10-25T15:01:00","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=136034"},"modified":"2018-10-25T07:28:02","modified_gmt":"2018-10-25T11:28:02","slug":"wheat-analysis-forecasts-of-bigger-crop-bearish-for-wheat-prices","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/10\/wheat-analysis-forecasts-of-bigger-crop-bearish-for-wheat-prices\/","title":{"rendered":"WHEAT Analysis – Forecasts of bigger crop bearish for wheat prices"},"content":{"rendered":"
October 25, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

Forecasts of bigger crop bearish for wheat prices<\/strong><\/p>\n

Russia and Ukraine estimate higher wheat exports. Will the wheat price<\/a> continue declining?<\/p><\/blockquote>\n

Since the start of the 2018\/19 marketing season Russia, a major global grain exporter, has exported 17.7 million tons of grains as of October 18, according to Russia\u2019s Ministry of Agriculture data. The export is up 21 percent compared with the same period of the last season. The wheat export is up 34.3% to 15.2 million tons. And Russian agricultural consultancy IKAR upgraded Russia\u2019s wheat export forecast to 33.0 million tons from 32.5 million on back of bigger wheat harvest, a 1.5% increase. At the same time Ukraine looks set to harvest its second-largest grain crop ever this year, with total production of around 64 million metric tons. Ukraine\u2019s Ministry of Agrarian Policy and Food estimates it could export approximately two-thirds of that total by the end of next June. Forecasts of increasing wheat production are bearish for wheat prices.<\/p>\n

\"Wheat<\/p>\n

On the daily timeframe the WHEAT: D1<\/b> is below the 50-day moving average MA(50) which is falling, this is bearish.<\/p>\n