Grain Express 9/28/22
Posted: Sept. 28, 2022, 8:20 a.m.
|
Corn
Corn futures have been trading along the downward sloping 100-day moving average for the last two sessions and again today. So far, the market is holding. If the Bulls can defend support through today's session, it is possible we see some relief come into the market ahead of Friday's quarterly stocks report. First resistance comes in from 678-682.
Levels Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
Soybeans
Soybean futures attempted to rally yesterday but couldn't hold the early morning gains through the session. The reversal is lead to additional pressure overnight and a breakdown below support from 1407-1415 3/4. If the Bulls cannot defend this pocket through today's session, a retest of the low end of the range could be in order, that comes in near 1375.
Levels Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
Wheat
Chicago wheat futures are carving out higher lows on the back of higher highs, keeping the recent bull trend intact. As mentioned in previous reports, our bias remains neutral. The chart looks extremely constructive, but the fundamentals are sketchy at best. With that said, there will probably be some decent short-term opportunities for participants on both sides of the trade.
Levels 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