Grain markets firm in the overnight and early morning trade. Will it last through today’s session?

Grain Express

/ by Blue Line Futures

Grain markets firm in the overnight and early morning trade. Will it last through today's session?

Grain markets were under pressure to start the week but were able to hold technical support levels yesterday and are firm this morning on the back of positive trade headlines. Where are the upside targets if the momentum holds?

Grains firm on positive trade headlines
Chicago soybean and grain futures climbed on Wednesday, lifted by news of an upcoming meeting between the U.S. and Chinese officials in Switzerland that boosted hopes for easing trade tensions. U.S. Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer are set to meet China’s top economic official, He Lifeng, this weekend for talks. -Reuters

Wheat


Tuesday’s Recap
July Wheat futures settled at 536’0 Tuesday, adding 4’6, in higher trade across the board. Across all maturities, a light 89,848 contracts changed hands, with 54,826 traded in the July maturity. Overall open interest increased 3,894 (0.86%) to 456,263. July shed 109, or 0.0407%, finishing at 267,590.

Technicals
Wheat futures were able to hold our pivot pocket on a closing basis yesterday and are back higher this morning. Despite the higher trade, wheat Bulls are likely still in a “prove it” mindset as many of the recent rallies have failed to find follow through. A close above 546 3/4-550 3/4 and we could see the upward momentum pick up steam with the next upside objectives coming in about 20 cents higher.

Technical Levels of Importance
Resistance: 548 1/4-550 3/4***, 569 1/4-571***
Pivot: 532 1/2
Support: 517 1/2-523 1/4***, 501 1/4***


Popular Options
The June 525 put saw the most changing hands with 925 contracts traded. Calls with the greatest open interest are the July 600 strike (14,575), and for the puts are the July 550 strike (9,172).

Volatility Update
Implied Volatility closed moderately down with WVL off by 1.2, to end the session at a one week low of 28.77. Historical volatility (30-day) closed the day at 21.32%, higher by 0.0492%, to a one week high. The WVL Skew was slightly down with the 30-day losing 0.085, finishing the session at a one week low of 6.07.

Seasonal Tendencies Update
(Updated on 5.5.25)

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).

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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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