Grain Express | 11.22.2021

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There are no flash-sales to report (as of writing this)



Corn (December)


Fundamentals: December corn futures were down 6 ½ cents through last week’s trade, with little new news to give the market a technical breakout or breakdown. Friday’s Commitments of Traders report showed Managed Money were net buyers of 21,526 futures/options contracts through November 16th, expanding their net long position to 341,135 futures/options contracts. It is Thanksgiving week, so we could see things quiet down by Tuesday and Wednesday. The market is closed on Thursday. December options expiration is Friday which could play a role in price action this week.


Technicals: December corn futures spent majority of last week’s trade in consolidation mode, attempting to trade higher and lower, but finishing the week within a defined range. Our pivot pocket remains intact, we have defined that as 563 ¼-566 ¾. The Bulls need to defend this to prevent further long liquidation. A break and close below opens the door for a retest of.....Click here to get our (FULL) daily reports emailed to you!

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Soybeans (January)


Fundamentals: January soybean futures had a fantastic performance last week, trading 19 cents higher for the week. Friday’s Commitments of Traders report showed Managed Money were net buyers of 17,351 future/options, expanding their net long position to 29,488. This is a very Neutral position.


Technicals: Friday’s trading session was relatively constructive, finishing near unchanged which prevented a further retracement from the recent move higher. The market is continuing to linger near our pivot pocket, 1266 ½-1273 ½. his will be a battleground area and an inflection point for the market. The Bulls need to defend this pocket on a closing basis to prevent a further retracement. The next support pocket doesn’t come in until.....Click here to get our (FULL) daily reports emailed to you!

Bias:

Previous Session Bias:

Resistance:

Support:

Wheat (December)


Technicals: Wheat futures made new contract highs this morning, taking out last Thursday’s high by ½ of a cent. Despite historically high prices and an RSI near overbought territory for the last few weeks, the market has been resilient. December options expiration is on Friday, this could play a role in price action through this week’s trade.....Click here to get our (FULL) daily reports emailed to you!

Bias:

Previous Session Bias:

Resistance:

Support:

You can email us at info@BlueLineFutures.com or call 312-278-0500


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.

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