Daily Grain and Livestock Market Recap

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Above: This morning’s RFD-TV interview (9.18.23 @ 9:45am CT)

It was a sea of red in the ag markets with grains and livestock both finishing the day under heavy pressure.

December corn futures broke to their lowest levels since September of 2021, settling the day 4 ¾ cents lower to 471 ½.  Despite the new lows for the move, the RSI (relative strength index) is only at 38 which is still above what most technicians refer to as oversold. 

November soybeans broke below the 200-day moving average which accelerated the selling pressure, some of which was likely long liquidation.  At the close the November contract was 23 ½ cents lower settling at 1316 ¾.  All eyes are on the 100-day moving average which comes in at 1304, just above the psychologically significant $13.00 handle. 

December Chicago wheat had a nice move higher on Friday but couldn’t use that to its advantage to start a new week.  At the close December Chicago wheat futures were 13 cents lower to settle at 591 ¼, erasing all of Friday’s gains and then some.  Seasonally we are at a time of year where the market starts trying to carve out low.  If that plays out this year or not is still up in the air.


Above: This morning’s RFD-TV interview, 9.18.23, @9:45am CT

December live cattle overtook October last week in terms of volume, so that will be our focus going forward.  The December contract had a strong end to last week’s trade but failed to find any follow-through to start the week.  At the close the December contract was 82 cents lower to settle at 191.00. 

October feeder cattle futures made new contract highs on Friday but fell flat on its face in today’s trade, erasing all of Friday’s gains and nearly half of Thursday’s gains.  At the close the October contract was 3.52 lower, settling at 260.05.   

December lean hogs overtook October in terms of volume last week.  October managed to squeak out a 12-cent gain on the day while the other months finished in the red.  At the close the December contract was 67 cents lower to settle at 74.42.


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Futures trading involves a 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 your identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500

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