Grains have responded positively following Thursday’s WASDE report, with corn, soybeans, and wheat trading to the highest levels in weeks.

Grain Express

/ by Blue Line Futures

Grain Markets Firm Following Thursday's WASDE Report

Grains have responded positively following Thursday’s WASDE report, with corn, soybeans, and wheat trading to the highest levels in weeks.

Wheat


Thursday’s Recap
Thursday’s Wheat market was mixed with the July contract losing 2’2 to 553’4. Total volume came in at a one month high of 243,215, with the July maturity seeing a heavy 101,075 done. Across all maturities, open interest decreased by 373, or 0.0787%, to end the session with 473,420 outstanding. The July maturity rose by 8.04% (373) to finish at 179,059.

Technicals
Wheat futures are higher this morning, thanks in part to strength in corn and beans. Prices are approaching resistance from 551 1/2-555. A move out above here could tack on another 15-20 cents in relatively short order. If you’re looking to play the upside in wheat, be sure to manage the risk ranges. Options may be a good vehicle to give you the upside exposure with limited risk. If you’d like to discuss a strategy, feel free to call our trade desk at 312-278-0500. We don’t publish blanket trade recommendations because everyone has a different risk-profile. What is suitable for you may not be suitable for someone else.

Technical Levels of Importance
Resistance: 551 1/2-555***, 569-570 1/4***, 575 3/4-577 1/2****
Pivot: 530-537
Support: 515-520*


Popular Options
Option volumes were highest for the July 600 call (1,852) and the May 520 put (2,017). Option open interest is highest for the July 900 calls at 11,433, and the July 550 puts at 9,067.

Volatility Update
Wheat implied volatility finished down as WVL decreased 0.91 to close at 30.01, a one week low. The 30-day historical volatility ended the day losing 0.17% to a one month low of 20.02%. The WVL Skew settled moderately higher, gaining 0.16 to finish the day at 4.34.

Seasonal Tendencies Update
(Updated on 4.7.25)

Below is a look at historical price averages for July wheat 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
(Updated on 4.7.25)

Friday’s Commitment of Traders report showed Funds were net sellers of roughly 19.5k futures/options. This puts their net short position at 112,040.

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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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