Daily Grain Technicals & Fundamentals (2.5.19)

Published on: 13:56PM Feb 05, 2019

Grain Express

 

February 5, 2019

 
 

 Corn (March)

 

Yesterday’s Close:  March corn futures finished yesterday’s session up 1 ¼ cents, trading in a range of 3 ¼ cents. 

 

Fundamentals:  Weekly export inspections came in at 901,000 metric tons, within the range of expectations.  Weather in South America has been friendly, helping the prospects of higher yield and production numbers.  The big-ticket this week will be Friday’s USDA report, covering production/stocks and supply/demand.  We will have estimates out for you by midweek.  We would not be surprised to see some position squaring as the week progresses. 

 

TechnicalsGet 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 1 ½ cents, trading in a range of 8 ¼ cents.

 

Fundamentals:  Weekly export inspections came in at 976,000 metric tons, within the range of expectations.  Weather in South America has been friendly, helping produce good yields and an early harvest in some areas.  Brazil is estimated roughly 19% complete, ahead of the 5-year average pace of 6%.  The big-ticket this week will be Friday’s USDA report, covering production/stocks and supply/demand.  We will have estimates out for you by midweek.  We would not be surprised to see some position squaring as the week progresses. 

 

TechnicalsGet 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 ¾ of a cent, trading in a range of 7 ¾ cents.

 

Fundamentals:  Weekly export inspections came in at 440,000 metric tons, this was within the range of expectations.  Forecast are calling for another round of cold temperatures through the Midwest (duh, it’s winter) which has some concerned.  As with corn and beans, Friday’s USDA report will be the “main event” this week.  We will have estimates for you in the coming days.

 

TechnicalsGet 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.