A Headline Driven Market

Published on: 14:04PM Jan 24, 2019

Grain Express

 

January 24, 2019

 
 

 Corn (March)

 

Yesterday’s Close:  March corn futures finished yesterday’s session down ½ of a cent, trading in a range of 3 ¾ cents. 

 

Fundamentals:  Informa Economics released their estimates for the 2019/2020 season in the U.S.  They have corn acres coming in at 91.5 million, this is up from the 89.1 planted in the previous year.  The word is that the FSA will be open today and tomorrow.  The lack of data due to the government shutdown has been taking the blame for a sideways market.  In reality, it is pretty typical for this time of year, government or not. 

 

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

 

 

Soybeans (March)

 

Yesterday’s Close:  March soybean futures finished yesterday’s session up 6 cents, trading in a range of 7 ¾ cents. 

 

Fundamentals:  Informa Economics released their estimates for the 2019/2020 season in the U.S.  Low prices cure low prices, they have soybean acres coming in at 86.23 million acres, down from 89.1 million acres.  Weather in South America continues to be a talking point, with nothing much else to talk about.  With that said, there’s nothing much on the forecast that looks exciting.  The market will be fixated on trade.  We expect headlines to pick up with as we go into the negotiations next week.

 

*as we are writing this, Secretary Ross stated that the U.S. and China are “miles and miles” away from trade resolution. 

 

-We would not be surprised to see Larry Kudlow come in and walk this statement back

 

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

 

 

Wheat (March)

 

Yesterday’s Close:  March wheat futures finished yesterday’s session up 5 ¼ cents, trading in a range of 5 ¼ cents. 

 

Fundamentals:  Informa Economics released their estimates for the 2019/2020 season in the U.S.  They have all wheat acres at 47.163 million acres, slightly lower from last years 47.80 million acres.  There are rumors that Russian wheat exports could slow, this would open the door for other market participants to ramp up, including the U.S. 

 

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

 

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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.