Futures trading involves substantial risk of loss and may not be suitable for all investors.

141 W. Jackson Blvd, Suite 2845

Chicago, IL 60604

info@bluelinefutures.com

p: (312) 278-0500

    (888) 441-8555

f:  (888) 370-2221

Privacy Policy

  • Twitter Social Icon
  • YouTube Social  Icon
  • LinkedIn Social Icon
  • Facebook Social Icon
Send Us a Message

© 2017 by Blue Line Futures, LLC. 

Grain Express

July 11, 2019

Corn (December)

 

Yesterday’s Close:  December corn futures finished yesterday’s session up 2 ½ cents, trading in a range of 9 ½ cent.  Funds were estimated buyers of 8,000 contracts.

 

Fundamentals:  Yesterday’s weekly EIA ethanol report showed production at 1.047 million gallons per day, down from 1.081.  Export sales this morning came in at 505,396 metric tons of old crop and -108,400 metric tons of new crop.  All eyes will now be on today’s WASDE report, out at 11am cst.  The average range of estimates for corn yield comes in from 162-167 with the average estimate of production being at 13.578 billion bushels.  2019/2020 ending stock estimates are near 1.65 billion bushels.

 

Technicals:  Not much....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com

 

 

 

Soybeans (November)

 

Yesterday’s Close: November soybean futures finished yesterday’s session up 7 ½ cents, trading in a range of 14 ¼ cents.  Funds were estimated buyers of 6,500 contracts.

 

Fundamentals:  Export sales this morning came in at 132,200 metric tons of old crop and 129,500 metric tons of new crop.  Market participants are now anxiously awaiting today’s WASDE report, out at 11am cst.  Early consensus seems to be for friendlier numbers, likely part of the reason we have seen the market stabilize over the past two sessions.  Estimates for soybean yield range from 47-51 bushels per acre, with production estimated near 3.866 billion bushels.  2019/2020 ending stocks are estimated to be near 830 million bushels. 

 

Technicals:  Yesterday morning we went outright Bullish on soybeans after a very constructive trade on Tuesday.  Now....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com

 

 

 

 

Wheat (September)

 

Yesterday’s Close:  September wheat futures finished yesterday’s session up 2 ¼ cents, trading in a range of 8 ¾ cents.  Funds were estimated buyers of 2,000 contracts.

 

Fundamentals:  Export sales this morning came in at 248,400 metric tons, towards the low end of expectations.  Attention will now turn towards this morning’s WASDE report, out at 11am cst.  Expectations for 2019/2020 ending stocks range from .910-1.116 billion bushels, the average estimate being 1.038.  All wheat production is estimated to be at 1.905 billion bushels, up slightly from 1.903 in the June report.

 

Technicals:  The technicals remain....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com

Sign up for a FREE trial of 1 or all 4 of our daily commodity reports!

-Grains

-Livestock

-Currencies

-S&P, Oil, Gold

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.

 

 

Share on Facebook
Share on Twitter
Please reload