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Weekend Ag Update (1.6.19)

Published on: 19:03PM Jan 06, 2019

Weekend Ag Update

 

January 6, 2019

 
 

We will be on RFD-TV at 9:45 cst tomorrow!

 

The Weekend Ag Update is a quick take on our thoughts on the markets and subject to change as the week unfolds, which will be reflected in our daily grain/livestock commentary. Feel free to contact us as little or as much as you need!

 

Corn (March)

 

March corn futures have not had a negative session yet this year (all of 3 sessions). We have outlined our bullish bias and stuck with it through the dreadful holiday trade. Volume confirms price, we have seen participation pick back up which confirms the higher price action. We are sticking with our bullish bias but will likely be looking to reduce some of that risk in the first half of the week. Our technical resistance pocket comes in from....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.

 

Soybeans (March)

 

As with corn, we have had a bullish bias in our daily grain commentary for the last two weeks. We have seen soybean futures rebound nicely after holding trend-line support near 880 on December 27th, this trend-line starts from the September 18th contract lows of 839 ¾. Last week we outline technical resistance as....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.

 

Wheat (March)

 

Wheat futures are something we have been more neutral/bullish on (over outright bullish), but the market has performed well to start the year after defending the psychologically and technical significant $5.00 handle. If the bulls can chew through....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.

 

 

Live Cattle (February)

 

February live cattle rolled over pretty good on Friday which surprised us a bit. We knew there was some weather premium baked into the market which took us to new contract highs on December 31st but were willing buyers near 123, both covering shorts and looking net long. The market obviously sliced through that level and closed towards the low end of the day’s range. For clients who are properly leveraged, this should not be a major concern. We will be looking to....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.

 

Feeder Cattle (March)

 

The move higher in grain prices coupled with a technical failure against technical resistance has put a lot of pressure on feeder prices over the last 4 sessions. We have had clients....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.

 

 

Lean Hogs (February)

 

February lean hogs have managed to work higher to start the year, but the move higher has been less than impressive. The market had rocket boosters to start January 2nd, but faded towards the end of the day, not the most encouraging price action. We continue to believe there is opportunity to the buy-side over the long term but have been playing the deferred months in futures and options. Significant resistance comes in near....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.