Grain Express


Corn (March)

Fundamentals: There is not much new news today. The focus will be on tomorrow’s USDA report. The average analyst estimates for ending stocks in this week’s USDA report is 1.691 billion bushels, down from 1.702 in the previous report.

Technicals: Corn futures had staged an inside day, trading within the previous day’s trading range, leaving many of our technical levels unchanged. We continue to believe there will be great short-term opportunities for both sides but think the bear camp may have the advantage on an intermediate-term time frame. What would change this thesis? Consecutive closes back above ...Click this link to read the FULL report and receive our daily commentary

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Support: Soybeans (January)

Fundamentals: There is not much new news today. Attention is focused in on this week’s USDA report, the average analyst estimates for ending stocks is 168 million bushels, down from 190 in last month’s report. World ending stocks are expected to come in near 85.11 million tonnes, down from the 86.52 we saw in November.

Technicals: Long liquidation helped mark the lowest close in a month. Lower highs are in place, the market has yet to make lower lows. 138-1142 ½ is first support, a break and close below would take out the December 2nd lows and open the door for ...Click this link to read the FULL report and receive our daily commentary

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Support: Chicago Wheat (March)

Technicals: March wheat futures are struggling to find sustainable relief, keeping the bear camp in control of the technical landscape. Significant support remains intact from 563-569 ½. In recent reports we have discussed this being a place for shorts to reduce, and for longs to venture into the market. If given the opportunity, we would be looking to resell at ...Click this link to read the FULL report and receive our daily commentary

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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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