Soybeans Linger Near Significant Support

Grain Express Research Posts

/ by BlueLineFutures | Leave a comment

Soybean futures have been under pressure in the first week of the year, taking prices to their lowest level since late June. Will support hold or will we see more selling into next week’s USDA report?

Corn

Technicals (March)

March corn futures were able to string together a second day of gains, but the strength was limited against our pivot pocket from 466 1/2-470.  The Bulls want to see a close above this pocket to spur a bigger relief rally towards the downward sloping resistance channel pictured below. 

Bias: Neutral/Bullish

Resistance:  481-484***, 493-496 1/2****

Pivot: 466 1/2-470 

Support: 450**

Seasonal Tendencies

Below is a look at historical seasonal averages for March corn futures (updated each Monday) VS today’s prices (black line). 

*Past performance is not necessarily indicative of futures results.

Commitment of Traders Snapshot

(updated on Mondays)

Below is a snapshot of the most recent Commitment of Traders report which showed Managed Money (Funds) holding a net short position to the tune of roughly 178k contracts, one of the largest net short positions they’ve held since June of 2020.

Soybeans

Technicals (March)

March soybean futures erased the previous day’s friendly reversal which has taken prices to new lows for the move and closer to the end of June low 1262 1/4. A break and close below this pocket could trigger additional selling down near the psychologically significant 1250 level. On the flip side, if we see prices would back above our pivot pocket from 1282-1285, we could see the market work to close the gap from Monday morning, which comes in near 1296. 

Bias: Neutral/Bullish

Resistance: 1295-1300****, 1325-1330***

Pivot: 1282-1285  

Support: 1262 1/4-1266 1/4, 1250**, 1230-1235***

Seasonal Tendencies

Below is a look at historical seasonal averages for March soybean futures VS this year’s price (black line), updated each Monday.  

*Past performance is not necessarily indicative of futures results.

Commitment of Traders Snapshot

(updated on Mondays)

The most recent Commitment of Traders report showed funds holding a net long position of 4,767 futures and options contract, broken down that is 70,617 longs VS 65,850 shorts.  It is the smallest net long position since the back half of October.

Wheat

Technicals (March)

March wheat futures were lower early on in yesterday’s trade but were able to stage a solid recovery after defending the lower end of our support pocket nearly perfectly, which we outlined as 591 1/2-595 throughout this week’s reports. The reversal took prices back above our pivot pocket from 608 1/2-611.  If the Bulls can find some follow-through momentum today, we could see an extension back towards the top end of the range, near 640.

Bias: Neutral

Resistance: 618-622***, 637-639**, 645-650*** 

Pivot: 608 1/2-611 

Support: 591 1/2-595***, 570**

Seasonal Tendencies

Below is a look at historical seasonal averages for March Chicago wheat futures VS this year’s price (black line), updated each Monday. 

*Past performance is not necessarily indicative of futures results.

Oliver Sloup, VP & Co-Founder, Blue Line Futures

Sign up for a 14-day, no-obligation free trial of our proprietary research with actionable ideas! Free Trial Start Trading with Blue Line Futures Subscribe to our YouTube Channel
Email info@Bluelinefutures.com or call 312-278-0500 with any questions -- our trade desk is here to help with anything on the board!

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



Blue Line Futures

141 W. Jackson Blvd., Suite 2620 Chicago, IL 60604

info@bluelinefutures.com
(312) 278-0500
(F) (888) 370-2221

Quick Links
Markets
About

© 2025 by Blue Line Futures, LLC. All rights reserved.
Futures trading involves substantial risk of loss and may not be suitable for all investors.

Privacy Policy Illustration by Freepik Storyset

Get in touch with us today.
Press the contact us button to reach out to us or take a look at our social media pages.

Contact Us


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

Performance Disclaimer

Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program.

One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points that can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program that cannot be fully accounted for in the preparation of hypothetical performance results all of which can adversely affect actual trading results.

Research Disclaimer

All information, communications, publications, and reports, including this specific material, used and distributed by Blue Line Futures LLC shall be construed as, or is in the nature of, a Solicitation for entering into a futures transaction. Blue Line Futures LLC does not employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71.

Seasonal Disclaimer

This message and its content is intended only for the person or entity to which it is addressed and should not be shared with additional parties. Seasonal tendencies are a composite of some of the most consistent commodity futures seasonals that have occurred in the past several years. There are usually underlying, fundamental circumstances that occur annually that tend to cause the futures markets to react in similar directional manner during a certain calendar year even if a seasonal tendency occurs in the futures, it may not result in a profitable transaction as fees and the timing of the entry and liquidation may impact on the results. No representation is being made that any account has in the past, or will in the futures, achieve profits using these recommendations. No representation is being made that price patterns will recur in the future.

To top