Export Sales, Flash Sales, and More!

Corn (December)


Fundamentals: This morning’s weekly export sales report showed net sales for 2021/2022 of 246,600 MT, a disappointing number. Below is a visual of this week's data vs. previous years.

Technicals: Yesterday, we moved our bias from outright Neutral to Neutral/Bearish with prices reaching technical resistance, a pocket that we have had defined as 529 ½-533. As mentioned in yesterday’s report, this is the pocket that we like selling against. Whether that be liquidating long positions or initiating new shorts. The market has grinded above this pocket overnight, but as always, the floor session will be more telling. If...........Click here to get our (FULL) daily reports emailed to you!


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Previous Session Bias:


Resistance:

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Soybeans (November)


Breaking: September 16, 2021—Private exporters reported to the U.S. Department of Agriculture export sales of 132,000 metric tons of soybeans for delivery to China during the 2021/2022 marketing year.


Fundamentals: Yesterday’s news of cancellations was sold into on the floor open, but there were plenty of buyers ready, willing, and able to buy the dip. This morning's weekly export sales report showed net sales for 2021/2022 of 1,264,200 MT. Below is a visual of this week's data vs. previous years.

Technicals: The market is officially trading in our resistance pocket, defined as 1300 ½-1306 ¾. If the Bulls can chew through that pocket, it would open the door for an extension towards 1325 ¾-1333. We are still in the “sell rallies” camp, which is why..........Click here to get our (FULL) daily reports emailed to you!


Bias:

Previous Session Bias:


Resistance:

Pivot:

Support:

Wheat (December)


Techncials: December wheat futures attempted to rally in the overnight session but have retreated and are approaching our pivot pocket from 698 ¾-703. If the Bulls fail to defend the pivot pocket on a closing basis, we could see..........Click here to get our (FULL) daily reports emailed to you!


Bias:

Previous Session Bias:


Resistance:

Pivot:

Support:


Below is this week's updated drought monitor VS the same week in 2012

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Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

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