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Grain Markets Mixed Overnight

Grain Express

/ by BlueLineFutures

Grain Markets Mixed Overnight

Trading ranges for grains have expanded recently which has setup for some great shorter-term opportunities. Markets are mixed overnight, what’s on our radar for today?

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Corn


Wednesday’s Recap
Wednesday’s Corn market was mixed with the March contract dropping 1’2 to 493’2. Overall the session saw 478,442 contracts done, with March volume coming in at 226,004. Across all maturities, open interest increased by 11,822 (0.59%) to 2,031,243. March dropped 13,360, or 2.04%, finishing at 640,775.

Technicals
March corn futures traded on both sides of unchanged yesterday, presenting some good shorter-term opportunities for traders. We feel that this environment will continue. If the market can chew through resistance from 499-502 1/4 that could spark a flurry of buying back towards the contract high from May, 508 1/4. On the flip side, a break and close below support from 477 3/4-479 3/4 could trigger some profit taking from Funds who have been accumulating a rather large net long position.

Technical Levels of Importance
Resistance: 499-502 1/4**, 508 1/4**
Pivot: 487-488
Support: 477 3/4-479 3/4***, 469 1/4-471 1/2***


Popular Options
Option trading centered around the March 500 calls with 10,426 changing hands and the May 500 puts with volume of 2,762. Options with the most open interest are the July 500 call with 41,168, and the March 440 put with 19,822.

Volatility Update
Corn implied volatility closed the day sharply down as CVL fell by 1.3 to end at 22.64. The 30-day historical volatility finished up by 0.0772% to a one month high of 19.88%. The CVL Skew ended slightly lower, down 0.062 to finish the session at 2.09.

Seasonal Tendencies Update
(Updated on 2.3.25)

Below is a look at historical price averages for May corn futures on a 5, 10, 15, 20, and 30 year time frames (Past performance is not necessarily indicative of future results).

Commitment of Traders Update
Managed money is now approaching lofty territory holding 350,721 contracts between futures & options. Meanwhile, commercials expanded their net-short position to 324,689 contracts between futures & options, likely due to the swath of farmer selling over the course of the past three weeks. If long liquidation materializes, it will likely see a drop in prices fairly quickly before stabilizing.

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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

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.

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