Grain Express 10/21/22
Posted: Oct. 21, 2022, 8:55 a.m.
Watch yesterday's interview with Scott the Cow Guy!
|
Exports Yesterday's weekly export sales were mostly in line with expectations. Also yesterday, private exporters reported 201,000 metric tons of soybeans received in the reporting period for delivery to China during the 2022/2023 marketing year and 132,000 metric tons of soybeans for delivery to unknown destinations during the 2022/2023 marketing year.
A Look at the Outside Markets Equity markets are weaker as bonds make new lows (higher interest rates). The US Dollar is firm and crude oil has been two-sided, currently near unchanged. |
Corn
December corn futures were able to rally yesterday, following four consecutive days of losses. Yesterday also marked the last day of the corn seasonal; the small rally narrowly made cleared the line in the sand to put it in positive territory.
Technicals Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
Levels Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
Soybeans
Soybeans made a run at the psychologically significant $14.00 handle yesterday but fell just short. The dollar is firming this morning and outside markets are weaker, which may be promoting weakness in some commodities like soybeans. The markets is retreating back near our pivot pocket, 1373-1378 3/4. The inability to get out above $14 yesterday is moving our bias back to Neutral.
Seasonal Trend in Play: November soybeans have been higher from October 4th-October 27th for 13 of the last 15 years.
Technicals Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
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