Grain Express 2/16/23

Posted: Feb. 16, 2023, 7:11 a.m.

Watch us on RFD-TV, today at 12:45pm CT!

     

Flash Sale

  • Yesterday morning private exporters reported sales of 213,370 metric tons (8,400,003 bushels) of corn for delivery during the 2022/2023 marketing year.

Export Sales Estimates

This morning's export sales report will be out at 7:30am CT.  Below are the ranges of estimates, in Metric Tons. 

  • Corn: 600,000-1,200,000 
  • Soybeans: 400,000-800,000
  • Wheat: 150,000-450000

A Look at the Outside Markets

  • Equity markets are little changed this morning, crude oil is fractionally higher, and the US Dollar under the slightest pressure, trading at 103.61.  Some analysts believe we could see the US Dollar continue to rally towards 105.50, which may pose a headwind to many commodities. 

Corn (March)

 

Managed Money Position

Updated each Friday with the weekly CoT Report

  • Delayed by the CFTC.

Seasonal Trend in Play

  • None
  • ZCH2023_2023-02-16_05-49-58

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

  • None
  • ZSH2023_2023-02-16_05-53-50

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.

Seasonal Trend

  • May Chicago wheat futures have trended lower from February 7th through April 7th for 13 of the last 15 years.  The average decline is roughly of 15 cents.  Last year was one of the off-trend years, due to Russia's invasion of Ukraine.  That brought the average gain down.
  • ZWH2023_2023-02-16_05-59-05

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.



First Two Weeks Free!
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?
If you have any questions about markets, trading, or opening an account please let us know! You can email us at info@BlueLineFutures.com or call 312-278-0500.

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


Grains Soybeans Corn Wheat

Like this post? Share it below:


Back to Insights