{"id":151152,"date":"2019-07-09T10:45:39","date_gmt":"2019-07-09T14:45:39","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=151152"},"modified":"2019-07-09T07:11:47","modified_gmt":"2019-07-09T11:11:47","slug":"rice-analysis-bad-weather-can-reduce-rice-harvest","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/07\/rice-analysis-bad-weather-can-reduce-rice-harvest\/","title":{"rendered":"RICE Analysis: Bad weather can reduce rice harvest"},"content":{"rendered":"
July 9, 2019<\/div>
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By IFCMarkets<\/a><\/strong><\/p>\n

Bad weather can reduce rice harvest<\/strong><\/p>\n

Drought in India and worsening weather conditions in China can reduce yields. Will the rice<\/a> quotation growth continue ?<\/p><\/blockquote>\n

According to the Indian Ministry of Agriculture & Farmers’ Welfare as of July 5, 2019, the area of summer rice crops in the country was 5.2 million hectares. This is almost a quarter less than last year\u2019s level for the same date. In India, the rainy season began because of the monsoons. It is usually observed from June to September. Already the 5th week in a row there is a lack of rain. Moreover, their number for the week ended July 3 was 6% lower than the average for the last 50 years. Lack of moisture can be a major factor in reducing the yield of rice and other crops in India. In China, there is increased heat, but precipitation is still common for midsummer. Note that the main global rice exporters are located in one region – in Asia: India, Thailand, Vietnam and Pakistan. China is the world’s largest importer of rice.<\/p>\n

\"Rice\"<\/p>\n

On the daily timeframe Rice: D1<\/b> is in the mid-term uptrend. The line of the previous neutral trend has now become a support level that was not broken down during the price correction.
\nVarious technical analysis indicators have generated an uptrend signals. Further growth of quotations is possible in case of a further reduction in world yield.<\/p>\n