{"id":150382,"date":"2019-06-27T10:43:14","date_gmt":"2019-06-27T14:43:14","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=150382"},"modified":"2019-06-27T06:43:57","modified_gmt":"2019-06-27T10:43:57","slug":"corn-analysis-drier-weather-bearish-for-corn-prices","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/06\/corn-analysis-drier-weather-bearish-for-corn-prices\/","title":{"rendered":"CORN Analysis: Drier weather bearish for corn prices"},"content":{"rendered":"<div id=\"inves-383992261\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">June 27, 2019<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By <a href=\"http:\/\/www.ifcmarkets.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">IFCMarkets<\/a><\/strong><\/p>\n<p><strong>Drier weather bearish for corn prices<\/strong><\/p>\n<blockquote><p>Drier weather across US Corn Belt this week will allow more planting of corn. Will the <a href=\"https:\/\/www.ifcmarkets.com\/en\/market-data\/commodities-prices\/corn\">corn prices<\/a> continue declining?<\/p><\/blockquote>\n<p>National Oceanic and Atmospheric Administration forecasts relatively drier conditions this week through July 2 across the upper Midwest and Corn Belt of US. Drier weather, which allows to plant more area when rains delayed plantings, is bearish for corn prices. At the same time the United States Department of Agriculture is expected to revise downward its estimate of corn planting area in annual acreage report due on Friday. This is an upside risk for corn.<\/p>\n<p style=\"text-align: center; margin-bottom: 20px; margin-top: 20px;\"><img decoding=\"async\" style=\"float: none;\" src=\"https:\/\/www.ifcmarkets.com\/uploads\/images\/Corn_O_27June2019.png\" alt=\"CORN is retracing from 5-year high 06\/27\/2019 Technical Analysis IFC Markets chart \" width=\"660px\" \/><\/p>\n<p class=\"ul-tick\">On the daily timeframe the <b>CORN: D1<\/b> is retracing lower after hitting 5-year high in mid-June.<\/p>\n<ul class=\"ul-tick\">\n<li>The <b>Parabolic indicator<\/b> gives a buy signal.<\/li>\n<li>The <b>Donchian channel <\/b> indicates uptrend: it is narrowing up.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/macd\">MACD indicator <\/a> gives a bearish signal: it is above the signal line and the gap is narrowing.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/stochastic\"> Stochastic oscillator <\/a> is falling but has not reached the oversold zone.<\/li>\n<\/ul>\n<p>We believe the bearish momentum will continue after the price breaches below the lower boundary of Donchian channel at 441.30. This level can be used as an entry point for placing a pending order to sell. The stop loss can be placed above the upper Donchian boundary at 467.40. After placing the order, the stop loss is to be moved every day to the next fractal high, following Parabolic signals. Thus, we are changing the expected profit\/loss ratio to the breakeven point. If the price meets the stop loss level (467.40) without reaching the order (441.30), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.<\/p>\n<h2 class=\"emailSummary\" style=\"margin-top: 15px !important;\">Technical Analysis Summary<\/h2>\n<table style=\"border: solid 1px black;\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Order<\/b><\/td>\n<td align=\"left\" valign=\"top\">Sell<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Sell stop<\/b><\/td>\n<td align=\"left\" valign=\"top\">Below 441.30<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Stop loss<\/b><\/td>\n<td align=\"left\" valign=\"top\">Above 467.40<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Market Analysis provided by <a href=\"http:\/\/www.ifcmarkets.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">IFCMarkets<\/a><\/p><div id=\"inves-3418187904\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By IFCMarkets Drier weather bearish for corn prices Drier weather across US Corn Belt this week will allow more planting of corn. Will the corn prices continue declining? National Oceanic and Atmospheric Administration forecasts relatively drier conditions this week through July 2 across the upper Midwest and Corn Belt of US. Drier weather, which allows [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-150382","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/150382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=150382"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/150382\/revisions"}],"predecessor-version":[{"id":150399,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/150382\/revisions\/150399"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=150382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=150382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=150382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}