• Oliver Sloup

Grain Express


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Corn (March)


Fundamentals: March corn futures were 5 ½ cents lower for the week, with Friday’s Commitment of Traders report showing funds net sellers of 17,000 contracts through December 1st. That shrinks their net long position to 271,000 contracts. Beneficial rains in South America over the weekend is deflating concerns over a drought causing major production concerns.


Technicals: March corn futures finished last week’s session under moderate pressure, marking lower highs. We are softer in the overnight session (take the overnight trade with a grain of salt) and threatening to make lower lows. Significant support remains intact from 408 ¾-413 ½. A break and close below here could spur additional long liquidation and accelerate the selling. There’s not much more support until ...Click this link to read the FULL report and receive our daily commentary

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Soybeans (January)


Fundamentals: January soybeans futures were 5 ½ cents lower for the week. Friday’s Commitment of Traders report showed funds were sellers of roughly 9,100 contracts, trimming their net long position to 195,000 contracts. Beneficial rains in South America over the weekend is deflating concerns over a drought causing major production concerns.


Technicals: The market is pulling back this morning (take the overnight trade with a grain of salt), testing our pivot pocket from 1152-1154 ¾. A break and close below here could take us to retest our support pocket again, 1138-1142 ½. Below that is our more significant support ...Click this link to read the FULL report and receive our daily commentary

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Chicago Wheat (March)


Technicals: Chicago wheat futures have continued their trend of lower highs and are making lower lows in the early morning trade. Our 4-star support pocket has been listed as 563-569 ½, this has been achieved in the early morning trade. We have had a bearish tilt in our bias and continue to have one, but 4-star levels are a place to capitalize. If you are Bullish, this is another decent risk/reward opportunity for you. If you do try buying and prices cannot defend support, take your medicine, and wait for the next setup. The market will ...Click this link to read the FULL report and receive our daily commentary

Bias:

Previous Session Bias:

Resistance:

Pivot:

Support:


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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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