Grains Trade Higher Overnight, Led by Wheat

Grain Express

/ by Blue Line Futures

Grains Trade Higher Overnight, Led by Wheat

Corn, beans, and wheat are all in positive territory in the early morning trade, with wheat being the leader. Is a breakout looming?

Corn

Monday’s Recap
Corn futures were sharply higher Monday with the July contract finishing the session at 447’4, up by 4’0. Total volume was 392,734, with July seeing 179,623 change hands. Overall open interest gained 6,103 (0.38%) to end the session with 1,631,850 outstanding. The July maturity rose by 0.79%, or 6,103, to finish at 687,794.

Technicals
July corn futures were able to defend our pivot pocket yesterday, which has brought prices back into first resistance this morning, 450 1/2-455 1/4. As mentioned in our two interviews yesterday, we see this as an extremely important pocket that could make or break short term optimism. The Bulls need to see consecutive closes out above here to get the market moving in a more meaningful manner. A failure and we likely stay rangebound within the recent levels.

Technical Levels of Importance
Resistance: 450 1/2-455 1/4***, 463 1/4-465 1/4***
Pivot: 442 1/4-445 3/4
Support: 436-437****


Planting Progress Update
U.S. farmers had planted 78% of the nation’s corn crop by Sunday, below an average of analysts’ expectations but ahead of the five-year average for this time of year of 73%, the U.S. Department of Agriculture said in a weekly crop report on Monday. Crop conditions will start next week.

Popular Options
Option trading centered around the Dec 500 calls with 5,797 done and the Dec 400 puts with volume of 3,235. For July options, the 500 calls were the most active with 2,398 done, and the high volume put was the 440 strike with 920 contracts changing hands. Options with the most open interest are the Dec 500 call with 36,885, and the Dec 400 put with 26,177.

Volatility Update

Corn implied volatility closed the day higher as CVL rose by 0.63 to finish at 24.74, a one week high. The 30-day historical volatility closed the session off 0.0574% to 19.63%. The CVL Skew was moderately higher with the 30-day up by 0.67, finishing at a one month high of 3.17.

Seasonal Tendencies Update
(Updated on 5.19.25)

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 99k futures and options contracts through May 13th, making them net short 84,976 contracts. This is their largest net short since last October.

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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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