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Daily Grain Technicals & Fundamentals


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Grain Express

February 12, 2019

Corn (March)

 


Yesterday’s Close:  March corn futures finished yesterday’s session down ¾ of a cent, trading in a range of 3 ¼ cents. 

 


Fundamentals:  Weekly export inspections came in at 744,000 metric tons, below the range of estimates from 850,000-1,150,000 metric tons.  The U.S. dollar posted has been on its longest winning streak in the past two years.  That win streak may be coming to an end as the market is retreating off of technical resistance from December.  Trade talks are set to continue this week, with headlines suggesting that the March 1st deadline could be pushed back.

 


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

 

 


Soybeans (March)

 


Yesterday’s Close:  March bean futures finished yesterday’s session down 10 ¾ cents, trading in a range of 15 ¼ cents.

 


Fundamentals:  Soybeans were under pressure yesterday but have stabilized in the early morning trade as trade talks with China resume and the tariff deadline may be pushed back.  Expect headlines through the remainder of the week to keep the market choppy.  Yesterday’s weekly export inspections report came in at 1,060,000 metric tons, within the range of estimates from 600,000-1,200,000 metric tons. 

 


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

 


 

Wheat (March)

 


Yesterday’s Close:  March wheat futures finished yesterday’s session up ¼ of a cent, trading in a range of 7 cents.

 


Fundamentals:  All in all, wheat was constructive yesterday.  The market recovered to finish positive, despite the dollar staging its longest rally in two years.  Wheat also overcame headwind from weakness in corn and beans.  The market is softer in the early morning trade, but we will see how the floor opens before putting too much weight into the low volume trade.  Weekly export inspections yesterday morning came in at 562,000 metric tons, this was towards the top end of the expected range from 400,000-600,000 metric tons.

 


Technials:....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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About the author


Oliver Sloup is Vice President of Blue Line Futures, a leading futures and commodities brokerage firm located at the Chicago Board of Trade. Blue Line Futures mission is to put the customer first, and that means bringing YOU the best customer service, consistent and reliable research and state of the art technology.  Oliver has been a guest on CNBC and Bloomberg, among others.  Oliver has over a decade of trading experience. Prior to Blue Line Futures, Oliver worked as the Director of Managed Futures at iiTRADER.

 

 

Contributing author since 10/6/17 

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