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

  • Oliver Sloup

Grain & Cotton Express


(Above: Yesterday's "2 Minute Drill")


Breaking: Outside markets are under pressure in the early morning trade. Non-farm payroll data came in at 273k, estimates were for 175k. This is a very strong number amidst all the headline hysteria.


Corn (May)


Fundamentals: Not much has changed from yesterday’s report, Corn futures are softer again this morning as outside market weakness is spilling over into the commodity sectors, expect this to be the new norm until fears of coronavirus subside. Weekly export sales yesterday morning came in at 769,200 metric tons for 19/20, 42% higher than the previous week and 27% above the 4-week average.


Technicals: Corn futures are continuing to retreat in the early morning trade as broad-based selling sweeps through the commodity markets. As mentioned in our weekly “2 Minute Drill”, key support comes in near....Click this link for the FULL report!


Soybeans (May)


Fundamentals: May soybean futures are seeing follow pressure this morning on the back of a broad-based risk off trade ahead of the weekend. Weekly export sales yesterday morning came in at 345,000 metric tons for 19/20, up 2% from last week but 35% below the 4-week average. Attention will start to shift towards next week’s USDA report, we will have estimates out over the weekend.


Technicals: As mentioned in yesterday’s “2 Minute Drill”, we don’t see much value at $9.00 and would rather try to be patient to dip the toes in on the buy side, closer to....Click this link for the FULL report!


Chicago Wheat (May)


Technicals: As mentioned in yesterday’s report, Chicago wheat futures continue to look dreadful as they retreat towards the low end of the recent range. Technical support comes in from 510-512 ¼, a break and close below here opens the door for a potential “whoosh” lower. The next meaningful support pocket comes in from....Click this link for the FULL report!....Click this link for the FULL report!


Kansas City Wheat (May)


Technicals: Kansas City wheat future are threatening the recent lows, 439 from February 29th. A break and close below here could us to the October, November, and December lows near 430-431 ½. We have been mostly bearish on the wheat complex for the last two months, if you want to be long....Click this link for the FULL report!


Cotton (May)


Technicals: The inability for cotton futures to stage and hold a meaningful rally over the last week has led to selling pressure ahead of the weekend of uncertainty, keeping the bears in full control of the technical landscape. They will remain in control until the bulls can achieve consecutive closes above 64.88-65.15. Support comes in near....Click this link for the FULL report!


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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.