wheat field

The Grain Rally Continues On

Grain Express

/ by BlueLineFutures | Leave a comment

Watch us on RFD-TV, today at 12:45pm CT!

Grain futures are higher yet again in the Thursday morning trade.  How much more upside is there? 

Wheat

Wednesday’s Recap
Wheat futures were slightly higher Wednesday with the Dec contract finishing the session at 578’4, up by 2’4. Overall the session saw 98,356 contracts done, with Dec volume coming in at 57,247. Total open interest decreased by 4,183 (1.02%) to 406,620. Dec fell by 1,935, or 0.95%, finishing at 201,909.

Technicals
Wheat was able to defend support again in yesterday’s trade, we’ve outlined that as 560 1/2-565 3/4. We talked about this being a spot to consider looking at the long side, whether that be reducing shorts or outright long. Prices have made it back to our pivot pocket from 582 3/4-584 1/4. It is “go time” for wheat as we see this as a bit of an inflection point for the market. A failure to achieve consecutive closes above this pocket could spark another leg lower. If the Bulls can chew through and close above it, we would look for a run back to 596-600.

Technical Levels of Importance
Resistance: 596-600, 615-617 1/2, 629 1/2-634
Pivot: 582 3/4-584 1/4
Support: 560 1/2-565 3/4, 544 1/4***


Popular Options

Option trading centered around the March 680 calls with 1,602 traded and the Nov 565 puts with volume of 1,253. In Dec options, the highest volume call was in the 620 strike with 1,274 changing hands, and the 560 put leads with volume of 877. Option open interest is largest for the Dec 600 calls at 7,646, and the Dec 550 puts at 6,400.

Volatility Update
Wheat implied volatility ended slightly up as WVL added 0.1 to close at 30.60, a one week high. The 30-day historical volatility settled up 0.0320% to 25.56%. The WVL Skew was moderately lower with the 30-day dropping 0.16, finishing at 5.87.

Fundamental Notes

  • Weekly Export Sales Expectations
    • 350,000-650,000 Metric tons
    • Last Week: 504k. Last Year: 381K

Get the FULL version of this morning’s Grain Express (including the corn and soybean section) by becoming a client or signing up for your FREE two-week trial!

Sign Up!

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