Grains Firm Ahead if WASDE Report

Grain Express

/ by Blue Line Futures

Grains Firm Ahead if WASDE Report

Grain markets firmed yesterday afternoon and saw follow-through momentum overnight as traders await new news from the USDA.

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Today’s WASDE report will be out at 11:00am CT.
We will be sending out a WASDE preview beforehand, so keep your eyes open. If you have any questions regarding hedging/speculating into or after the report, our trade desk is ready to help: 312-278-0500

Soybeans


Wednesday’s Recap
July Soybean futures settled at 1023’4 Wednesday, gaining 19’4 (1.94%). Overall volume was a heavy 536,668, with the July maturity seeing 175,037 done. Across all maturities, open interest fell by 16,498, or 1.90%, to end the session with 852,187 outstanding. The July maturity increased 4.12% (16,498) to finish at 290,927.

Technicals
May soybeans made it back to the breakdown point from last week and are working to close the gap from April 3rd. The big resistance pocket to keep an eye on for today’s trade comes in from 1028-1031 1/2. A move out above there and we could see more upside potential with the next target coming in near 1040.

Technical Levels of Importance
Resistance: 1008-1013**,1028-1031 1/2***, 1036 1/2-1042****
Pivot: 991-995 3/4
Support: 969-970 1/2***, 955 1/2***


Popular Options
Option trading centered around the May 1020 calls with 4,959 traded and the June 940 puts with volume of 7,860. Calls with the highest open interest are the July 1040 strike (16,880), and for the puts are the Nov 900 strike (25,014).

Volatility Update
Implied Volatility closed the day sharply lower with SVL down 2.5, to finish the session at 18.75. Higher by 1.11% to a one month high, historical volatility (as measured by the 30-day) ended at 18.97%. The SVL Skew finished slightly higher, adding 0.94 to end the day at -0.09.

Seasonal Tendencies Update
(Updated on 4.7.25)

Below is a look at historical price averages for July soybean 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 roughly 13k futures and options contracts. This shrinks their net short position to 29,847 contracts.

 

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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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