{"id":161679,"date":"2019-12-13T10:45:26","date_gmt":"2019-12-13T15:45:26","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=161679"},"modified":"2019-12-13T08:02:03","modified_gmt":"2019-12-13T13:02:03","slug":"wheat-analysis-lower-carryover-estimates-bullish-for-wheat","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/12\/wheat-analysis-lower-carryover-estimates-bullish-for-wheat\/","title":{"rendered":"WHEAT Analysis: Lower carryover estimates bullish for WHEAT"},"content":{"rendered":"<div id=\"inves-996242288\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">December 13, 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>Lower carryover estimates bullish for WHEAT<\/strong><\/p>\n<p>Lower wheat carryover estimates are bullish for wheat. Will the <a href=\"https:\/\/www.ifcmarkets.com\/en\/trading-conditions\/commodities\/wheat\">WHEAT<\/a> rise?<\/p>\n<p>Latest World Agriculture Supply and Demand Estimates (WASDE) report released by USDA on Tuesday cut wheat import estimates by 15 million bushels and raised exports by 25 million bushels. At the same time it lowered the carry over projection for wheat by 40 million bushels. These are all bullish developments for wheat. However recent reports projected increased wheat production in Europe and Russia, both major global producers. These are downside risk for wheat price. In Europe, a 14.3% increase compared to last year soft wheat harvest is projected, according to Coceral grain lobby. At the same time USDA forecast 0.7% increase for Russian wheat production in 2019\/2, totaling 2.737 billion bushels. USDA projects also increased exports from Russia.<\/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\/WHEAT_13December2019.png\" alt=\"WHEAT retracing toward MA(200) 12\/13\/2019 Technical Analysis IFC Markets chart\" width=\"660px\" \/><\/p>\n<p class=\"ul-tick\">On the daily timeframe the <b>WHEAT: D1<\/b> is retracing after hitting 5-month high in the end of November.<\/p>\n<ul class=\"ul-tick\">\n<li>The <b>Parabolic indicator<\/b> gives a sell signal.<\/li>\n<li>The <b>Donchian channel <\/b> indicates no trend yet.<\/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 flat above the 50 level.<\/li>\n<\/ul>\n<p>We believe the bullish momentum will continue after the price breaches above the upper boundary of Donchian channel at 542.8. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below the lower Donchian boundary at 516. After placing the order, the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit\/loss ratio to the breakeven point. If the price meets the stop loss level (516) without reaching the order (542.8), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.<\/p><div id=\"inves-4113474828\" 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<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 542.8<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Stop loss<\/b><\/td>\n<td align=\"left\" valign=\"top\">Below 516<\/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>\n","protected":false},"excerpt":{"rendered":"<p>By IFCMarkets Lower carryover estimates bullish for WHEAT Lower wheat carryover estimates are bullish for wheat. Will the WHEAT rise? Latest World Agriculture Supply and Demand Estimates (WASDE) report released by USDA on Tuesday cut wheat import estimates by 15 million bushels and raised exports by 25 million bushels. At the same time it lowered [&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-161679","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/161679","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=161679"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/161679\/revisions"}],"predecessor-version":[{"id":161700,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/161679\/revisions\/161700"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=161679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=161679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=161679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}