Category: Uncategorized
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Can Corn Defend Support?
Corn Technicals (May) May corn futures officially fizzled out against our pivot pocket from 440-442 which may have led to some technical selling in yesterday’s trade which has brought prices back down to our 4-star support pocket from 431 1/2-433 1/4 (previously significant resistance). From a risk reward perspective, we like leaning on this pocket…
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Grain Markets Retreat. Cause for Concern or Healthy Pullback?
Grain Markets saw selling pressure come into the market this afternoon with wheat and corn leading the way to the downside while soybeans (despite finishing well off the highs) were little changed. May Corn: -7 1/2 to settle at 433 3/4 July Corn: -7 1/4 to settle at 446 1/4 December Corn: -5 1/4 to…
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Weekly Drought Monitor Update
The updated weekly drought monitors continue to show concerns hovering over Iowa. Approximately 36% of corn country is experiencing drought and 33% of soybean area. Yes, it is very early in the year and things can change rapidly, but this will become increasingly important as we head into the springtime. CORN SOYBEANS WHEAT Watch us…
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Weekly Export Sales Summary
This morning’s weekly export sales report was in line with expectations for corn, soybeans, and wheat. Here’s a breakdown from the USDA’s weekly report. Corn: Net sales of 1,283,400 MT for 2023/2024 were up 16 percent from the previous week and 19 percent from the prior 4-week average. Increases primarily for Japan (346,100 MT, including 110,000…
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Mixed Markets
Grain markets are mixed in the early morning trade with corn near unchanged, beans making new highs for the move, and wheat lower. These are the levels we will be watching closely in today’s trade. Watch us on RFD-TV, today at 12:45pm CT! Get all of Blue Line Ag Hedge’s fundamental and technical research, alerts,…
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Corn Futures Flatline
Corn futures have had a nice rally through the first half of March but have stalled out over the past two days against resistance. Has corn hit a near term ceiling or is the market building up energy for another leg higher? Oliver Sloup of Blue Line Futures shares his thoughts in today’s 2-Minute Drill.…
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Is Corn Setup for a Springtime Rally?
With the prospective plantings report fast approaching traders will be focusing in on weather conditions throughout the Cornbelt. Though it is very early in the year, we like to use the Wayne Gretzky approach, which is skate to where the puck *may* be going, not where it is. Now no one can predict the future,…
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Will The Short Covering Rally Continue in Grains?
Grain futures have traded on both sides of unchanged in the overnight and early morning session. With WASDE and CONAB behind us attention will shift to the technical landscape as well as the BIG reports at the end of the month. Get all of our daily fundamental and technical research, alerts, recommendations, and more delivered…
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Soybeans Rally in Tuesday’s Trade
CONAB, Brazil’s equivalent of the USDA released their updated production numbers showing more reductions for their corn and soybean crops. Get all of Blue Line Ag Hedge’s fundamental and technical research, alerts, recommendations, and more delivered to your inbox! Sign Up Now! Just a few days after the USDA left South American production numbers near…
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Does Volatility Actually Offer Opportunity?
The CME Group CVOL corn index which measures volatility has recently climbed to its highest-level since September, which could be indicative of growing uncertainty about future prices which can be visualized in the chart below. Get all of Blue Line Ag Hedge’s fundamental and technical research, alerts, recommendations, and more delivered to your inbox! Sign…