{"id":156427,"date":"2019-09-30T10:15:02","date_gmt":"2019-09-30T14:15:02","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=156427"},"modified":"2019-09-30T07:09:18","modified_gmt":"2019-09-30T11:09:18","slug":"wheat-analysis-getting-ready-to-publication-of-usda-review","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/09\/wheat-analysis-getting-ready-to-publication-of-usda-review\/","title":{"rendered":"WHEAT Analysis: Getting ready to publication of USDA review"},"content":{"rendered":"
September 30, 2019<\/div>
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By IFCMarkets<\/a><\/strong><\/p>\n

Getting ready to publication of USDA review<\/strong><\/p>\n

Getting ready for the publication of the U.S. Grain Review Department of Agriculture (USDA). Will the wheat quotations<\/a> grow?<\/p><\/blockquote>\n

The data will be released on Monday, September 30, 2019 at 16-00 GMT. According to a consensus forecast of analysts, in a USDA survey, US wheat inventories will amount to 2.318 billion bushels, which is 3% lower than last year. USDA is expected to estimate production of American wheat in the 2019\/20 agricultural season at 1.968 billion bushels. This is 0.6% less than the August forecast. This fall, wheat harvesting may be delayed due to rainy weather in western Canada and the United States. Grain prices on the Euronext European Exchange reached a 6-week maximum level due to the active purchases by countries such as Egypt and Saudi Arabia amid a weak euro. Australia previously cut its wheat crop forecast by 10% due to drought.<\/p>\n

\"Wheat\"<\/p>\n

On the daily timeframe Wheat: D1<\/b> is in uptrend. Various technical analysis indicators have generated signals to increase. Further growth of quotations is possible in case of an increase in global demand amid a decline in inventories of producing countries.<\/p>\n