Daily Grain Technicals & Fundamentals
Oliver Sloup of Blue Line Futures - InsideFutures.com - Mon Feb 11, 8:03AM CST

Grain Express

February 11, 2019

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Corn, Soybeans, Wheat


Corn (March)


Last Weeks Close: March corn futures finished Fridays session don 2 cents, trading in a range of 7 cents. Futures were down 4 cents on the week.


Fundamentals: Fridays highly anticipated USDA report was a bit of a snooze fest for those expecting a pop in volatility. That type of market reaction all but confirms our stance that the market is as efficient as ever, making scheduled reports less significant. One of the headwinds for Ag markets recently has been the resurgence in the U.S. Dollar, as it continues its longest daily win streak in two years.


Technicals:Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.


Soybeans (March)


Last Weeks Close: March soybean futures finished yesterdays session down 8 cents, trading in a range of 11 cents. Funds were estimated sellers of 7,500 contracts on the day.


Fundamentals: With the dud of a USDA report behind us, attention has quickly turned back to trade negotiations with China. We do not expect much to come from the meetings but continue to believe the continuous discussions will keep a floor in the market and make dips a buying opportunity.


Technicals: Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.


Wheat (March)


Last Weeks Close:March wheat futures finished Fridays session up 4 cents, trading in a range of 8 cents. Futures were down 6 cents for the week.

Fundamentals: Wheat futures have been hampered by the longest dollar rally in two years and a stagnate corn and bean market hasnt provided an ounce of tailwind momentum. Winter wheat acres came in at 31,290,00, the lowest since 1909, even this fell short of offering support to the market.


Technicals:Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.


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