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A Trader's Paradise

Published on: 14:00PM Jan 23, 2019

Grain Express

 

January 23, 2019

 
 

 Corn (March)

 

Yesterday’s Close:  March corn futures finished yesterday’s session down 1 ½ cents lower, trading in a range of 5 ½ cents.  Funds were estimated sellers of 12,500 contracts on the day.

 

Fundamentals:  Weekly export inspections came in at 1,108,119 metric tons, a notch above the top end of expectations.  Flash headlines caused an uptick in volatility midday, providing a small window of opportunity for active market participants.  Headlines were that the U.S. had declined what China had brought to the table.  A few hours later, Larry Kudlow walked some of those headlines back a bit.  We are expecting these headlines to continue as we go into next week’s trade talks. 

 

Technicals:  Yesterday’s session was choppy but traded perfect from the technician’s point of view.  Our first resistance from....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 down 5 ¼ cents, trading in a range of 20 cents.  Funds were estimated sellers of 6,500 contracts on the day.

 

Fundamentals:  Weekly export inspections came in at 1,110,713 metric tons, within the range of expectations.  As with corn, the midday headlines caused a pop in volatility.  Headlines were that the U.S. had declined what China had brought to the table.  A few hours later, Larry Kudlow walked some of those headlines back a bit.  We are expecting these headlines to continue as we go into next week’s trade talks.  If you’re actively trading the market, you need to anticipate headlines while keeping the golden rule in mind “buy the rumor, sell the news”. 

 

Technicals:  Yesterday’s volatility provided some tremendous opportunities for active participants.  Our technical support pocket from....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 cents, trading in a range of 11 ¾ cents.  Funds were estimated buyers of 4,000 contracts on the day. 

 

Fundamentals:  Weekly export inspections came in at 516,643 metric tons, within the range of expectations.  There have been rumors circulating that China is considering buying U.S. wheat, that has helped prop up the market.  This goes back to the old buy the rumor, sell the news philosophy.  If/when China does buy, the market will likely have had majority of that priced in. 

 

Technicals:  The market worked higher yesterday after a blip of volatility around the noon hour, thanks to meaningless headlines.  The market is now....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.