Corn (December)

Yesterday’s Close:  December corn futures finished yesterday’s session down ¾ of a cent, trading in a range of 6 ½ cents.  Funds were estimated sellers of 4,000 contracts.

Fundamentals:  Not much has changed over the last 24-hours, market participants are still focusing in on Friday’s USDA report.  Estimates for corn acres are coming in near 86.66 million, down from 89.80 in the June WASDE report.  As mentioned several times, these headline numbers may be slightly disappointing and need to be taken with a grain of salt.  These numbers are derived from a survey conducted in the first 1-2 weeks of the month, intentions have been fluid and there has likely been a lot of changes since then. 

Technicals:  Consolidation has been the name of the game, which has....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email

Soybeans (November)

Yesterday’s Close:  November soybean futures finished yesterday’s session down 7 cents, trading in a range of 18 cents.  Funds were estimated sellers of 6,000 contracts.

Fundamentals:  There has not been a lot of new news on the wires over the last 24 hours, as market participants anxiously await Friday’s acreage report.  Estimates for soybean acres are coming in near 84.35 million acres, down from the 84.60 we saw in the June WASDE report.  As mentioned in previous reports, these headline numbers may be slightly disappointing and need to be taken with a grain of salt.  These numbers are derived from a survey conducted in the first 1-2 weeks of the month, intentions have been fluid and there has likely been a lot of changes since then. 

Technicals:  The market failed against our 3-star resistance pocket yesterday which has brought in....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email

Wheat (September)

Yesterday’s Close:  September wheat futures finished yesterday’s session down 3 cents, trading in a range of 11 ¼ cents.  Funds were estimated sellers of 3,000 contracts.

Fundamentals:  Wheat futures worked lower yesterday, in tandem with broad weakness in the grain complex.  Friday’s acreage report will be out at 11am cst, all wheat acres are estimated to come in near 45.65 million acres, down from 45.80 in the June WASDE report.  We continue to be optimistic on grains as a whole but feel what could be the laggard.

Technicals:  4-star technical resistance held firm yesterday, we had defined that as 549-553.  The inability to....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email

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Futures trading involves substantial risk of loss and may not be suitable for all investors. 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.