Grain & Cotton Express

Corn (May)

Fundamentals: May corn futures managed to grind higher on the back of a friendly outside market and a DeJa’Vu USDA report that was unchanged from the previous month. The March 31st report will undoubtably be the big report of the month, this will cover quarterly stocks and prospective planting numbers. Outside market money flow will continue to be a focal point for the broader commodity space.

Technicals: The market managed to work higher yesterday but is now retreating to our pivot point, 373 ¼-375. The bulls must defend this on a closing basis, a failure to do so could open the door for new contract this link for the FULL report! or email

Soybeans (May)

Fundamentals: Soybeans tried to rally yesterday bit closed well off the highs as the USDA left the balance sheet unchanged, shifting focus back towards the outside markets for now. The next report will be the March 31st quarterly stocks and prospective plantings report, this will undoubtedly be significantly more meaningful for the market.

Technicals: Previous support has become technical resistance, that comes in from 878-880. The bulls have traded above here but failed to hold that momentum through the close. If the bulls can achieve consecutive closes back above this pocket, we could see the market fill the Sunday night gap and work back towards the psychologically significant $9.00 handle. A failure to do so keeps the bears in control and leaves the door open for a potential this link for the FULL report! or email

Chicago Wheat (May)

Technicals: Chicago wheat futures managed to rally alongside the outside markets but failed to attract any new buyers as we approached resistance. Technical resistance comes in from 527 ½-530. This pocket represents the 50% retracement (middle of the range) and the 200-day moving average. Consecutive closes above this pocket this link for the FULL report! or email

Kansas City Wheat (May)

Technicals: Kansas City wheat has tried to grind higher over the last two sessions, but the rally attempt has lacked conviction. The bears remain in full control, but yesterday’s reversal could signal a near term relief rally. If the bulls can achieve consecutive closes above 450, we could see further relief this link for the FULL report! or email

Cotton (May)

Technicals: May cotton future failed to hold majority of yesterday’s gains which keeps the bear camp in full control. Though the chart remains bearish over the intermediate term, there will be plenty of opportunities for the bulls and bears, so long as the volatility continues (which we think will) this link for the FULL report! or email

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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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