Seasonal Trades in the Grain Markets

Published on: 13:46PM Nov 07, 2018

Grain Express

 

November 7, 2018

 
 

Corn (December)

 

Yesterday’s Close:  December corn futures finished yesterday’s session down 1 ½ cents, trading in a range of 2 ½ cents.  Funds were estimated sellers of 1,500 contracts on the day.

 

Fundamentals:  The election has come and gone, and the markets reactions were similar to that of trying to light a 5-year-old firework you just found.  Attention will no be solely focused on tomorrow’s USDA report.  Early estimates are for yields to come in at 180 bushels per acre, putting total production at 14.721 billion bushels.  Carryout estimates are near 1.773 billion bushels.  We do have a seasonal trade that starts tomorrow; sign up for a free trial of our research to get it emailed to you.

 

Technicals

 

 

 

Soybeans (January)

 

Yesterday’s Close:  January soybeans finished yesterday’s session down 1 cent, trading in a range of 10 ¾ cents.  Funds were estimated sellers of 1,500 contracts on the day.

 

Fundamentals:  With the election behind us, attention will be focused on tomorrow’s USDA report, scheduled to be released at 11 am cst.  Early expectations are for yields to come in near 52.9 bushels per acre, putting production near 4.676 billion bushels.  Carryout estimates are coming in near 898 million bushels. 

 

Technicals

 

 

 

Wheat (December)

 

Yesterday’s Close:  December wheat futures finished yesterday’s session up 4 ¾ cents, trading in a range of 8 ½ cents.  Funds were estimated buyers of 3,000 contracts on the day.  

 

Fundamentals:  We continue to watch the US dollar very closely as it will have a direct impact on the export market.  If the dollar continues to soften up, we would expect to see that put a soft floor in the market.  Estimates for ending stocks in tomorrow’s USDA report are coming in near 958 million bushels.  We do have a seasonal trade that starts tomorrow; sign up for a free trial of our research to get it emailed to you.

 

Technicals:  

 

 

 

-If you have questions about our services or would like to discuss the markets in more depth, please feel free to email Oliver@BlueLineFutures.com, or call/text 312-837-3938.

 

 

 

 

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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.