{"id":140466,"date":"2019-01-22T10:43:41","date_gmt":"2019-01-22T15:43:41","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=140466"},"modified":"2019-01-22T07:19:08","modified_gmt":"2019-01-22T12:19:08","slug":"corn-analysis-china-may-increase-us-corn-purchases","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/01\/corn-analysis-china-may-increase-us-corn-purchases\/","title":{"rendered":"CORN Analysis: China may increase US corn purchases"},"content":{"rendered":"
January 22, 2019<\/div>
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By IFCMarkets<\/a><\/strong><\/p>\n

China may increase US corn purchases<\/strong><\/p>\n

The cost of cereal crops slightly increased at the end of the regular round of US-China trade negotiations. Will corn prices<\/a> rise?<\/p><\/blockquote>\n

It is supposed that China will increase imports of US goods, including soybeans and corn. However, the parties have not reached a full agreement yet. China offers to establish trade parity by 2024, and the US insists on earlier terms. The next negotiations will take place on January 30-31, 2019. An emerging increase in global demand for corn can be noted. Its imports to the EU since the beginning of the 2018\/19 agricultural season, which started in July, have exceeded the volume of the corresponding period of the previous season by already 45% and reached 13.4 million tons. Turkey purchased 342 thousand tons of corn in an international tender. Market participants note good demand from South Korea. An additional factor in the possible growth of quotations may be the drought in Brazil and heavy rains in Argentina. Bad weather can reduce the corn yield in South America.<\/p>\n

\"Corn\"<\/p>\n

On the daily timeframe, Corn: D1<\/b> approached the resistance line of the triangle. It should be breached up, before opening a buy position. A number of technical analysis indicators formed buy signals. The further price growth is possible in case of an increase in demand and a reduction in world yield.<\/p>\n