close up photo of corns during daytime

Grain Markets Struggle Overnight

Grain Express

/ by BlueLineFutures | Leave a comment

Grain markets were higher in Tuesday’s trade but struggled to find follow-through in the overnight and early morning trade. Will buyers show back up at the 8:30 open?

Corn

Technicals (December)

December corn futures were able to stage an impressive relief rally in yesterday’s trade, erasing losses from Monday and then some. The market has so far failed to find any follow-through momentum overnight as prices drift back lower. Will we see the buying pick back up when the floor opens? TBD. Support and resistance levels remain pretty well defined, as depicted in the chart below.

Short Term Bias and Technical Levels of Importance
Bias: Neutral
Resistance: 401-403 3/4, 409-413*
Pivot: 396 1/4-397 1/4
Support: 380-385***
Below: Daily Chart of December Corn Futures.

Notes

  • Flash Sale: on 8/27/24, Private exporters reported sales of 127,760 metric tons (5,029,687 bushels) of corn for delivery to Mexico during the 2024/2025 marketing year.
  • EU Crop Update: The European Union’s corn yield is expected to drop below the 5-year average following a hot and dry growing season.


Chart of Interest
Below is a look at price averages for December corn over a 5, 10, and 15 year period. Past performance is not necessarily indicative of future results.

Soybeans

Technicals (November)

Soybeans kissed the 20-day moving average in yesterday’s trade but have again failed to get out above it. We have not seen consecutive closes above it since May. The end of May is also where trendline resistance started to develop, as shown in the chart below. There are enough eyeballs on these levels that if the Bulls are able to get out above it, it may be enough to spark a little tailwind to price action. Despite the fundamental headwinds, prices have been able to carve out a series of higher lows and higher highs over the last two weeks.

Short Term Bias and Technical Levels of Importance
Bias: Neutral
Resistance: 984 3/4-991, 1000-1006 1/2
Pivot: 975 1/2-980
Support: 950-955 1/4*

Below: Daily Chart of November Soybean Futures

Notes

  • StatsCan: Statistics Canada showed soybean production at 7.15m tons, within the range of expectations.

Chart of Interest

Below is a look at price averages for November soybeans over a 5, 10, and 15 year period. Past performance is not necessarily indicative of future results.

Want to keep reading?

Subscribe to our daily Grain Express for daily insights into Soybeans, Wheat, and Corn technicals, including our proprietary trading levels, and actionable market bias by claiming your free two-week trial!

Sign Up for Free Futures Market Research – 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