{"id":156535,"date":"2019-10-01T10:45:58","date_gmt":"2019-10-01T14:45:58","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=156535"},"modified":"2019-10-01T07:28:24","modified_gmt":"2019-10-01T11:28:24","slug":"soybean-analysis-us-department-of-agriculture-reduces-soybean-stock-assessment","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/10\/soybean-analysis-us-department-of-agriculture-reduces-soybean-stock-assessment\/","title":{"rendered":"Soybean Analysis: US Department of Agriculture Reduces Soybean Stock Assessment"},"content":{"rendered":"
October 1, 2019<\/div>
\r\n<\/div><\/div>

By IFCMarkets<\/a><\/strong><\/p>\n

US Department of Agriculture Reduces Soybean Stock Assessment<\/strong><\/p>\n

China is going to increase purchases of American soybeans. Will the Soyb quotations <\/a> grow?<\/p><\/blockquote>\n

On September 30, Chinese companies purchased 600 thousand tons of soybeans in the United States for delivery in November-January. This is slightly less than a week earlier, when 1 million tons were purchased. Market participants believe that purchases will continue. The acquisition of American soybeans is an important part of China\u2019s commitment to the United States to end the trade war between the two countries, which has been going on for 15 months. Recall that the next round of US-Chinese trade negotiations may begin on October 10 or earlier. Safras & Mercado reported a delay in Brazil’s soybean planting season in the 2019\/20 growing season. As of September 27, only 0.9% of the planned area was sown, while a season earlier on the same date it was 4.9%. An additional positive factor for soybean quotations was the publication of a review of grain crops U.S. Department of Agriculture (USDA). Last year, the US bean crop was revised down to 4.428 billion bushels from 4.544 billion. At the same time, the USDA reduced the estimate of current soybean stocks in the United States to 913 million bushels, while market participants expected 982 million bushels.<\/p>\n

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

On the daily timeframeSoyb: D1<\/b> exceeded the 200-day moving average line. Various technical analysis indicators have generated uptrend signals. Further growth of quotations is possible in the event of a decrease in world crops and an increase in US soybean imports to China.<\/p>\n