{"id":145489,"date":"2019-04-10T10:45:35","date_gmt":"2019-04-10T14:45:35","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=145489"},"modified":"2019-04-10T06:59:46","modified_gmt":"2019-04-10T10:59:46","slug":"soybeans-analysis-soybean-reserves-may-decline-in-the-us","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/04\/soybeans-analysis-soybean-reserves-may-decline-in-the-us\/","title":{"rendered":"Soybeans Analysis: Soybean reserves may decline in the US"},"content":{"rendered":"
April 10, 2019<\/div>
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By IFCMarkets<\/a><\/strong><\/p>\n

Soybean reserves may decline in the US<\/strong><\/p>\n

The U.S. Department of Agriculture (USDA) lowered the forecast for US soybean reserves at the end of the 2018\/19 agricultural season by 5 million bushels. Will Soyb prices<\/a> rise?<\/p><\/blockquote>\n

In the April USDA review, the forecast for US reserves was lowered to 895 million bushels from 900 million bushels in the March review. The world soybean consumption in the 2018\/19 season will amount to 349.1 million tons, which is 3.1% more than in the 2017\/18 season. At the same time, an increase in world production by 5.3% to 360.1 million tons is expected. The difference will go to world reserves. The largest increase in soybean crop is expected in Latin America. Accordingly, prices may strongly depend on the weather in the region. The main factor for the possible increase in soybean prices is the mitigation of trade disputes between the US and China. At the end of January, China agreed to purchase 5 million tons of American soybeans this year and can significantly increase this volume. The next round of the US-China trade talks took place last week. US President Donald Trump stated that he asked China to abolish all duties on American agricultural products. Trump expects a conclusion of the trade agreement with China in the next 4 weeks.<\/p>\n

\"Soyb\"<\/p>\n

On the daily timeframe, Soyb: D1<\/b> approached the resistance line of the downward channel. Before opening a buy position, it should be breached up. A number of technical analysis indicators formed buy signals. The further price increase is possible in case of a reduction in world harvest and resumption of US soybean imports to China.<\/p>\n