Buy 1 Sell 1 Hold 1 (corn soybeans wheat 1.15.19)

Published on: 14:00PM Jan 15, 2019

Grain Express

 

January 15, 2019

 
 

Corn (March)

 

Yesterday’s Session:  March corn futures finished yesterday’s session up ¼ of a cent, trading in a range of 4 cents.

 

Fundamentals:  Weekly export inspections came in at 1.01 million tones, this was above the top end of trade estimates of 500-900tmt.  It is that time of year where the news usually dries up, throw in a government shutdown and the news wire comes to a halt.  The futures market is constantly adapting to new information (with or without reports), so we aren’t all that concerned with the lack of reports.  Price proceeds news headlines.

 

Technicals:   Not much has changed on the technical landscape over the last 24 hours.  Key support from....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email [email protected]

 

 

Soybeans (March)

 

Yesterday’s Session:  March soybean futures finished yesterday’s session down 6 cents, trading in a range of 9 ½ cents.

 

Fundamentals:  Weekly export inspections came in at 1.02 million tonnes, above the top end of expectations from 625-950 tmt.  NOPA crush data will be released at 11am cst, expectations are for 167-172 million bushels.  We would not be surprised to see the market drift lower/chop sideways for the remainder of the week.  As we start getting closer to the meeting between US and China trade officials at the end of the month, we would look for a premium to work back into the market.

 

Technicals:  The market pulled back and held our first technical support pocket to a T yesterday, we defined that as 898 ¼-901 ¾ (the low was 901 ½).  We....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email [email protected]

 

 

Wheat (March)

 

Yesterday’s Close:  March wheat futures finished yesterday’s session down 5 cents, trading in a range of 10 ¼ cents.

 

Fundamentals:  Weekly export inspections came in at 546tmt, above the expected range from 250-400tmt.  There has not been a lot of new news on the wire as of late, to be expected for this time of year.  With that said, money flow and technicals will be a leader in the near term for active traders. 

 

Technicals:  Though the market traded lower yesterday, it did....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email [email protected]

 

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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.