Mexico Buys Corn and Beans

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Corn (December)


Breaking: 314,256 metric tons of corn for delivery to Mexico during the 2021/2022 marketing year.


Fundamentals: This morning’s weekly export sales report showed net sales of 1,265,100 MT for 2021/2022. With the expectation of a quiet newswire through the rest of the week, attention is shifting towards next week’s WASDE report. We will email out estimates this afternoon CLICK THIS LINK TO GET OUR EMAILS!


Technicals: December corn futures pulled back to and defended our pivot pocket, 532-533. The Bulls need to continue defending this pocket to prevent a further retracement, with the next meaningful support pocket not coming in until 521 ¼-524. Our bias remains.....Click here to get our (FULL) daily reports emailed to you!

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Soybeans (November)


Breaking: 261,264 metric tons of soybeans for delivery to Mexico during the 2021/2022 marketing year


Fundamentals: This morning’s weekly export sales report showed net sales of 1,041,900 MT for 2021/2022. With the expectation of a quiet newswire through the rest of the week, attention is shifting towards next week’s WASDE report. We will email out estimates this afternoon CLICK THIS LINK TO GET OUR EMAILS!


Technicals: November soybean futures were softer yesterday, but were able to defend the previous day’s low, which is what the Bulls need to see. As mentioned earlier in the week (Monday morning), we like the risk reward to the buy-side despite the fundamental landscape. With that said, the.....Click here to get our (FULL) daily reports emailed to you!

Bias:

Previous Session Bias:

Resistance:

Pivot:

Support:

Wheat (December)


Fundamentals: This morning’s weekly export sales report showed net sales of 333,200 metric tons (MT) for 2021/2022 were up 15 percent from the previous week, but down 19 percent from the prior 4-week average. With the expectation of a quiet newswire through the rest of the week, attention is shifting towards next week’s WASDE report. We will email out estimates this afternoon CLICK THIS LINK TO GET OUR EMAILS!


Technicals: Wheat futures were higher for much of yesterday’s session but sold off into the close to finish in negative territory and near the lows of the day. That end of day selling was offset with overnight and early morning weakness today. As mentioned, all week, the chart looks constructive, but we have a hard time getting excited about wheat at these prices. 744 ¾-750 will be the.....Click here to get our (FULL) daily reports emailed to you!

Bias:

Previous Session Bias:

Resistance:

Pivot:

Support:


Call/Text/Email, Oliver with any questions.

Oliver@BlueLineFutures.com and 312-837-3938



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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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