Two major rice producers cut exports
Vietnam and India have reduced the rice export. Will the quotations grow?
India reduced rice exports in the agricultural season 2018/19 by 7.2% compared with the previous season - to 11.95 million tons. In January-April 2019, Vietnam reduced rice exports by 7.9% compared to the same period in 2018 to 2 million tons. Note that India and Vietnam are the 1st and 3rd place in the world in the export of rice, and the 2nd place is Thailand.
On the daily timeframe , Rice: D1 is in the medium neutral trend. It is moving towards the upper limit and various technical analysis indicators formed an uptrend signal. Further growth of quotations is possible in case of a further reduction in world exports.
Technical Analysis Summary
Position Buy
Buy stop Above 10,75
Stop loss Below 10,2
Vietnam and India have reduced the rice export. Will the quotations grow?
India reduced rice exports in the agricultural season 2018/19 by 7.2% compared with the previous season - to 11.95 million tons. In January-April 2019, Vietnam reduced rice exports by 7.9% compared to the same period in 2018 to 2 million tons. Note that India and Vietnam are the 1st and 3rd place in the world in the export of rice, and the 2nd place is Thailand.
On the daily timeframe , Rice: D1 is in the medium neutral trend. It is moving towards the upper limit and various technical analysis indicators formed an uptrend signal. Further growth of quotations is possible in case of a further reduction in world exports.
- The Parabolic indicator has formed a buy signal.
- The Bollinger Bands narrowed, which indicates volatility decrease. The bottom line of Bollinger has a slope up.
- The RSI indicator is above the 50 mark. It has formed a divergence to the rise.
- The MACD indicator gives a signal to increase.
Technical Analysis Summary
Position Buy
Buy stop Above 10,75
Stop loss Below 10,2