Grain Express 9/12/22
Posted: Sept. 12, 2022, 7:59 a.m.
|
Corn
December corn futures have been choppy since the Sunday night open as the market braces for today's USDA report. The market remains entrapped by the support and resistance levels, which keeps them unchanged into this week's trade. A breakout and close above 687 could open the door for a bigger directional move out above the $7.00 handle. A failure could take us back to the low end of the recent range, 647-650ish.
Technicals Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
Soybeans
Soybean futures are continuing to consolidate, trading right near the middle of the range from the beginning of August. We are still a little more concerned about the downside potential, with the gap near 1350 from July 26th still being open. For this reason, our bias is still in bearish territory. A close above the top end of our pivot pocket would neutralize our bias.
Technicals Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
Wheat
Chicago wheat futures broke out above the top end of the multi-month range on Friday, but so far, the follow through or lack thereof is a disappointment to the Bull camp. Previous resistance is now support that comes in from 839-849.
Technicals Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
In case you haven't already, you can sign up for a complimentary 2-week trial of our complete research packet, Blue Line Express.
Sign up for a Free Trial
Start Trading with Blue Line Futures
Don't have an account with Blue Line Futures?
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
Like this post? Share it below:
Back to Insights
In case you haven't already, you can sign up for a complimentary 2-week trial of our complete research packet, Blue Line Express.
Free Trial