Grain Express 2/6/23
Posted: Feb. 6, 2023, 9:58 a.m.
Watch us on RFD-TV, today at 9:45am CT! |
|
|
|
Private exporters reported to the following sales activity
Argentina Hot and dry weather is expected to make its return in Argentina for the week. This was reported on by many news outlets last week which may have some of the premium baked into prices.
Brazil Brazil has the opposite problem as Argentina. Excess moisture has delayed soybean harvest, which is estimated to be roughly 10% complete. This has also gotten planting of the safrinha crop off to a slow start, currently about 12% planted. Safrinha corn is Brazil’s 2nd corn crop, planted right after the soybean harvest.
WASDE Wednesday, February 8th is the next WASDE report. Historically, this report is a nothing burger. We will have estimates out by this afternoon.
A Look at the Outside Markets Equity markets are under pressure in the early morning trade, crude oil is up 1.23%, and the US Dollar is continuing it's recovery rally, up .40% to 103.17. |
for delivery to Japan during the 2022/2023 marketing yearCorn (March)
Managed Money Position
Updated each Friday with the weekly CoT Report
- Delayed by the CFTC.
Seasonal Trend in Play
- May corn futures have traded higher from January 13th to February 6th for 12 of the last 15 years. Looking at the historical data, this isn't a seasonal that we would label as "high conviction." The average profit during this time period is only about 8 cents.
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 (March)
Managed Money Position
Updated each Friday with the weekly CoT Report
- Delayed by the CFTC.
Seasonal Trend in Play
- March soybeans have firmed from January 31st to February 12th for 13 of the last 15 years. The average gain has been about 19 1/2 cents. For a more in-depth breakdown of this seasonal, reach out to our trade desk or email Seasonals@BlueLineFutures.com.
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.
Wheat (March)
Managed Money Position
Updated each Friday with the weekly CoT Report
- Delayed by the CFTC.
Next Seasonal Trend: February 7th
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