Grain Express 11/18/22
Posted: Nov. 18, 2022, 9:05 a.m.
Corn
December corn futures drifted higher in the overnight session. The next resistance pocket comes in from 676-679 1/2. This was previous support before breaking down a week and a half ago. December options expire next week, and futures volume has already started to shift from December to March.
Seasonal Trend in Play: March corn futures have trended higher from November 16th to January 4th for 13 of the last 15 years.
For more information or ideas of how to trade this trend, contact our trade desk: 312-837-3938 or email Seasonals@BlueLineFutures.com
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Soybeans
January soybean futures made a rally attempt overnight but are off those highs, trading up just a few cents. If the Bulls can get back out above yesterday's high, 1431 3/4, that could spark a wave of buying back towards the upper end of the recent range, 1454 1/4-1462 1/4.
Seasonal Trend in Play: March soybeans have trended higher from November 16th to January 9th for 14 of the last 15 years.
For more information or ideas of how to trade this trend, contact our trade desk: 312-837-3938 or email Seasonals@BlueLineFutures.com
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Wheat
Seasonal Trend in Play: Bearish March Chicago Wheat from November 4th to November 19th. This has played out for 13 of the last 15 years.
For more information or ideas of how to trade this trend, contact our trade desk: 312-837-3938 or email Seasonals@BlueLineFutures.com
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