{"id":157243,"date":"2019-10-10T10:50:24","date_gmt":"2019-10-10T14:50:24","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=157243"},"modified":"2019-10-10T07:51:04","modified_gmt":"2019-10-10T11:51:04","slug":"corn-analysis-high-demand-bullish-for-corn-price","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/10\/corn-analysis-high-demand-bullish-for-corn-price\/","title":{"rendered":"CORN Analysis: High demand bullish for corn price"},"content":{"rendered":"<div id=\"inves-4087244253\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">October 10, 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>High demand bullish for corn price<\/strong><\/p>\n<blockquote><p>US export sales were stronger than forecast while quality ratings declined last week. Will the <a href=\"https:\/\/www.ifcmarkets.com\/en\/trading-conditions\/commodities\/corn\">corn price<\/a> continue rising?<\/p><\/blockquote>\n<p>On the demand side US corn export inspections improved slightly last week compared to the one previous the last, rising to 18.4 million bushels from 16.6 million bushels up due to heavy buying from Mexico. On the other hand USDA crop progress report Monday reinforced supply concerns: quality ratings fell another point to 56% in good-to-excellent condition. And harvest is moving slower than expected, with 15% completed as of October 6. Higher demand and lower expected crop is bullish for corn prices. Today\u2019s US Department of Agriculture monthly World Agricultural Supply and Demand Estimates report may be a downside risk in case of higher crop supply estimates<\/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_10October2019.jpg\" alt=\"CORN rising above MA(200) 10\/10\/2019 IFC Markets Technical Analysis Chart \" width=\"660px\" \/><\/p>\n<p class=\"emailSummary\">On the daily timeframe the <b>CORN: D1<\/b> has been rising after closing above the 200-day moving average MA(200).<\/p>\n<ul class=\"emailSummary ul-tick\">\n<li>The <b>Parabolic indicator<\/b> has formed 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 bullish signal: it is above the signal line and the gap is widening.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/rsi\"> RSI oscillator <\/a> is above 50 level and has not reached the overbought zone.<\/li>\n<\/ul>\n<p>We expect the bullish momentum will resume after the price breaches above the upper Donchian bound at 401.5. A price above that level can be used as an entry point for a pending order to buy. The stop loss can be placed below the fractal low at 388.3. After placing the pending order, the stop loss is to be moved to the next fractal low, following Parabolic signals. By doing so, we are changing the expected profit\/loss ratio to the breakeven point. If the price meets the stop loss level (388.3) without reaching the order, we recommend canceling the order: the market sustains 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\">Buy<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Buy stop<\/b><\/td>\n<td align=\"left\" valign=\"top\">Above 401.5<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Stop loss<\/b><\/td>\n<td align=\"left\" valign=\"top\">Below 388.3<\/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-4252387848\" 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 High demand bullish for corn price US export sales were stronger than forecast while quality ratings declined last week. Will the corn price continue rising? On the demand side US corn export inspections improved slightly last week compared to the one previous the last, rising to 18.4 million bushels from 16.6 million bushels [&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-157243","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/157243","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=157243"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/157243\/revisions"}],"predecessor-version":[{"id":157275,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/157243\/revisions\/157275"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=157243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=157243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=157243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}