---

On Friday we moved our bias from Bullish/Neutral to outright Neutral for July corn futures, as the market traded into our first two resistance pockets which we defined in our morning reports as 595-601 and 606.  In the chart below, you can see exactly how we derived those resistance levels.  Needless to say, the market is at an inflection point, which should make for an interesting open following a long weekend.  If you haven't yet, be sure to hit that subscribe button below to get our daily technical and fundamental commentary emailed to you.  

When the market sold off aggressively in the middle of May we were fairly outspoken about the idea that the market can recover and enter into a bit of a holding pattern.  Below is a look at the current year (black line) along with average price action for July corn for the next month (vertical green line to vertical redline).  The averages are derived from 5, 10, 15, 20, and 30 year averages. 

---

Below is an updated look at the weekly Commitment of Traders report.

Cooler and wetter weather around the corner? 

Click the link below to take a look at the updated 6-10 day forecasts and see how it stacks up against the 8-14 day.  

6-10 Day Weather Outlook VS 8-14 Day Outlook - Blue Line Futures

---

Sign up for a 14-day, no-obligation free trial of our proprietary research with actionable ideas!
Free Trial Start Trading with Blue Line Futures Subscribe to our YouTube Channel
Email info@Bluelinefutures.com or call 312-278-0500 with any questions -- our trade desk is here to help with anything on the board!

Futures trading involves substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. 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.

Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.

With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third party application. Blue Line Futures employees use only firm authorized email addresses and phone numbers. If you are contacted by any person and want to confirm identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500

Grains

Like this post? Share it below:

Back to Insights