Traders Brace for End of the Quarter Trade and USDA Report

Grain Express

/ by Blue Line Futures

Traders Brace for End of the Quarter Trade and USDA Report

Grain markets found some relief on Friday which spilled into some strength in the early morning trade.

Corn


Friday’s Recap
Friday’s Corn market was mostly lower with the May contract higher by 3’2 to 453’2. Overall volume was 509,318, with May seeing 206,960 traded. Combined open interest lost 7,453, or 0.40%, to 1,843,995. May shed 23,348 (3.61%), finishing at 622,914.

Technicals
May corn futures made new lows for the move on Friday, trading into our support pocket from 440-442 1/2. This pocket not only held but acted as a bit of a springboard for prices with a nice reversal higher into the weekend. That momentum has led to a moderately firmer to mixed overnight and early morning trade, with prices hovering near our pivot pocket from 454 1/2-457 3/4. If the Bulls can chew through and close above this pocket, we could see prices march back towards the top end of this month’s range. Keep in mind that it is the last trading day of the month and quarter, along with one of the biggest USDA reports of the year, these could play a meaningful role in price action through today’s session.

Technical Levels of Importance
Resistance: 462 1/2-465 1/2**, 472 3/4-473 1/2***
Pivot: 454 1/2-457 3/4
Support: 440-442 1/2***, 432 3/4-434 1/4***
Popular Options
Option trading centered around the July 460 calls with 30,644 traded and the July 460 puts with volume of 29,556. In May options, the highest volume call was in the 470 strike with 11,326 traded, and the 440 put leads with volume of 8,867. Options with the highest open interest are the July 500 call with 38,016, and the July 460 put with 33,616.

Volatility Update
Option trading centered around the July 460 calls with 30,644 traded and the July 460 puts with volume of 29,556. In May options, the highest volume call was in the 470 strike with 11,326 traded, and the 440 put leads with volume of 8,867. Options with the highest open interest are the July 500 call with 38,016, and the July 460 put with 33,616.

Seasonal Tendencies Update
(Updated on 3.31.25)

Below is a look at historical price averages for July 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
Friday’s Commitment of Traders report showed Funds were net sellers of about 32.5k futures and options contracts, shrinking their net long position to 74,607.

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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.

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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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