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Grain Express

October 3, 2019

Corn (December)

 

Fundamentals: December corn futures finished yesterdays session on softer ground on the back of a light wave of profit taking. We would not be terribly surprised to see this continue today, ultimately it is healthy and would likely set up as a better buying opportunity. Export sales this morning came in at 562,600 metric tons, within the range of estimates. Weather and yield reports will become increasingly important over the coming weeks.

 

Technicals: yesterday’s pullback and today’s early weakness is nothing to get worked up about, we continue to believe this is healthy and will represent a better buying opportunity. Previous resistance now becomes support, we see that as....Sign you for your FREE two-week trial!

 

Soybeans (November)

 

Fundamentals: November soybean futures retreated yesterday as recent buyers started to take some profits. As with corn, attention will start to shift back to weather and harvest reports over the coming weeks. Export sales this morning came in at 2,080,000 metric tons, above the top end of estimates.

 

Technicals: If you reduced against technical resistance earlier this week, you may want to consider....Sign you for your FREE two-week trial!

 

 

Chicago Wheat (December)

 

Fundamentals: Chicago wheat pulled back yesterday and is weaker in the overnight/early morning trade, in tandem with the broader grain complex. Weekly export sales came in at 328,500 metric tons.

 

Technicals: The market....Sign you for your FREE two-week trial!

 

Kansas City Wheat (December)

....Sign you for your FREE two-week trial!

 

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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