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Corn: As we pointed out yesterday, we do like selling into this resistance, (580-586). We do have a little bit of a double top, but a break-out above it will negate our selling, and we would look to exit. 550 was the breakout point from October 27, which is technically & psychologically significant to us
Soybeans: We had came into a resistance level hit today, and to the bears dismay it reached our tap out levels. Take your medicine and retreat.
Cattle: We are looking at the April contract which has been stagnant. There is a wedge forming, and we need to see the prices edge past this to the upside to keep the momentum on the bull's side.
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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.