Will Grains Breakout This Week?

Published on: 13:55PM Jan 22, 2019

Grain Express

 

January 22, 2019

 
 

Corn (March)

 

Friday’s Close:  March corn futures finished Friday’s session up ¼ of a cent, trading in a range of 5 ¼ cents.

 

Fundamentals:  There has been little new news on the wires, which is normal for this time of year, even without a government shutdown.  Weather will continue to be monitored in South America, as of right now, the forecasts are mute this week. 

 

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

 

 

Soybeans (March)

 

Friday’s Close:  March soybean futures finished Friday’s session up 7 ½ cents, trading in a range of 14 ½ cents.

 

Fundamentals:  The market is slightly softer to start the shortened trading week, as no concrete steps were put in place to bridge the divide between U.S. and Chinese trade delegates.  As with corn, market participants continue to keep a closes eye on weather in South America, there have been concerns but it hasn’t been anything out of the ordinary. 

 

Technicals:  The bull camp got....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email [email protected]

 

 

Wheat (March)

 

Friday’s Close:  March wheat futures finished yesterday’s session down 1 ¼ cents, trading in a range of 7 ½ cents. 

 

Fundamentals:  Wheat futures finished last week’s trade right where it had started.  There has been little new news on the wires to give participants of either camp conviction in their bias.  There have been rumors circulating that we could see an uptick in global demand, that has yet to be confirmed by prices.  We think there is opportunity in the wheat market here but would love to see some help from corn and beans.

 

Technicals:  Technicals have....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email [email protected]

 

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