Grain Express

Watch us on RFD-TV, today at 12:45 PM CT! Corn (March)

Fundamentals: This morning’s weekly export sales report showed net sales of 7,436,500 MT for 2020/2021--a marketing-year high--were up noticeably from the previous week and from the prior 4-week average. Keep in mind that this is data from exporters for the period from January 22-28th, so it is not necessarily hot off the presses.

Technicals: March Corn futures tested and held our first support pocket yesterday; we have had that defined as 536 ½-541 ½. The market then rallied to finish above our pivot pocket which cleared the path to print new contract highs in the early morning trade, 558. With prices at new contract highs, we are back in “uncharted territory”, which makes the task of finding meaningful technical resistance a fool’s errand. We look at charts as a roadmap of previous interaction between buyers and sellers, we do not have that at new contract highs. You can use continuous charts but would take them with a grain of salt.........Click this link to read the FULL report and receive our daily commentary

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Soybeans (March)

Fundamentals: This morning’s weekly export sales report showed net sales of 824,000 MT for 2020/2021 were up 77 percent from the previous week and 4 percent from the prior 4-week average.

Technicals: March soybeans are continuing to consolidate, trading between our support and resistance pockets, 1333 ½-1335 ½ and 1285-1388 ¾. A conviction break above or below these pockets could spark a bigger directional move and would shift our bias accordingly.........Click this link to read the FULL report and receive our daily commentary

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Support: Chicago Wheat (March)

Fundamentals: This morning’s weekly export sales report showed net sales of 643,100 metric tons (MT) for 2020/2021 were up 69 percent from the previous week and up noticeably from the prior 4-week average.

Techncials: Wheat futures got hit hard on the open yesterday, trading into our 3-star support pocket, 624-628 ¾. The ability to defend this pocket led to a light wave of short-covering which took us back near our pivot pocket, 656 ½-659. Technical support holding in the fashion that it did has us moving our near-term bias back to Neutral/Bearish (aka cautiously pessimistic), from outright Bearish.........Click this link to read the FULL report and receive our daily commentary

Bias:

Previous Session Bias:

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Is a Managed Account Right for You?

-Are you too busy to watch the markets all day?

-Does the recent market volatility make you nervous?

-Have you struggled with self-directed trading?

If you answered yes to any of the questions above, a managed trading account might be right for you. The team that was previously running our Ag Alerts program is officially registered as a CTA (commodity trading advisor). Investing with a CTA is a hands-off approach and can be a great way to diversify your trading and investing accounts.


The team that manages this CTA program has a background as floor traders at the Board of Trade, specializing in grain market options. The strategy takes a calculated risk management approach, targeting a 1-2% profit on each trade and each trade risks 1-2%. The program targets a 70+% win rate.


Their trading approach is a spreading strategy that seeks to capture mispricing between options. The program utilizes a variety of techniques, depending on market conditions, to sell overvalued options, and buy protective options at a low cost. Most of the time this is done on a ratio with a long bias, at worst, they are net flat options, never net short.


Funding levels for this program will vary on how aggressive or conservative you would like to be.

Contact us to learn more!

info@BlueLineFutures.com

312-278-0500


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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