• Oliver Sloup

Grain & Cotton Express


Corn (March)


Fundamentals: March corn futures slipped lower yesterday but remain trapped within the range amid time of year that offers a lack of news to break the market out or down. The bear camp had the opportunity to beak the market following Tuesday’s USDA report, but there seemed to be a sellers strike at these levels, an encouraging sign in our opinion. For this reason, we moved our bias to outright Bullish Wednesday. We are going into a long weekend, adding additional risk with the market closed an extra day. Yesterday’s weekly export sales came in at 968,800 metric tons, 22% below last week’s report and 9% below the 4-week average.


Technicals: The market remains range-bound, but we are optimistic about prices in the near term. With prices at the low end of the range, we see this as a good risk/reward situation to the buy-side. With that said, there is still some work to do on the charts. First resistance comes in from 384 ¾-387 ¼, consecutive closes above here could spark a bigger rally. The must hold support pocket is....Click this link to get our FULL report emailed to you daily! Or call/text/email Oliver at 312-837-3938 / Oliver@BlueLineFutures.com


Soybeans (March)


Fundamentals: Soybeans have staged a nice rally this week, taking us within a stones throw of the psychologically significant $9.00 handle. Some of this is likely in anticipation of the Phase-1 agreement officially kicking off tomorrow, the 15th. The concerns around coronavirus are real, but it is very hard to quantify the spillover affects just yet. We are going into a long weekend, adding additional risk with the market closed an extra day. We moved our bias to Bullish/Neutral on Wednesday but will be tightening things up before the close.


Technicals: The market ran up against our technical resistance pocket yesterday, we have defined that as 900-905 ¾. Though we could see a bump above here we think this may be a magnet into next week’s option expiration, there are about 13,000 calls at the $9 strike. Previous....Click this link to get our FULL report emailed to you daily! Or call/text/email Oliver at 312-837-3938 / Oliver@BlueLineFutures.com


Chicago Wheat (March)


Technicals: The market managed to hold first support this week, we’ve defined that as 538 ½. The ability to defend this level has led to a consolidation higher, which we will be looking to resell with clients. Lower highs and lower lows have been the trend over the last month, creating a bearish head and shoulder pattern on the chart. Previous support now becomes resistance, we see that as....Click this link to get our FULL report emailed to you daily! Or call/text/email Oliver at 312-837-3938 / Oliver@BlueLineFutures.com


Kansas City Wheat (March)


Technicals: Kansas City wheat futures have tried to grind higher over the last two weeks but seem to be rounding out, closing below the 50-day moving average after trading alongside it for the last 11 sessions. If the bulls fail to hold ground here, we could see prices drop into....Click this link to get our FULL report emailed to you daily! Or call/text/email Oliver at 312-837-3938 / Oliver@BlueLineFutures.com


Cotton (March)


Technicals: March cotton futures filed to hold ground this week and have so far marked lower highs, potentially opening the door for lower lows and a run back towards 63.70-64.05. This pocket was support from the end of November and beginning of December. We believe that the bears have control until the bulls can achieve consecutive closes above....Click this link to get our FULL report emailed to you daily! Or call/text/email Oliver at 312-837-3938 / Oliver@BlueLineFutures.com





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.

Logo_desktop_2x.png

141 W. JACKSON BLVD., SUITE 2845

CHICAGO, IL 60604

INFO@BLUELINEFUTURES.COM

P: (312) 278-0500

F: (888) 370-2221

  • YouTube - White Circle
  • Facebook - White Circle
  • Twitter - White Circle
  • LinkedIn - White Circle

© 2020 by Blue Line Futures, LLC. All rights reserved.

Futures trading involves substantial risk of loss and may not be suitable for all investors.