A quiet overnight grain trade into the last trading day of the month

Grain Express

/ by Blue Line Futures

A quiet overnight grain trade into the last trading day of the month

Grains were a bit mixed in Thursday’s trade, which is the early morning theme as we enter the last trading day of the month.

Corn


Thursday’s Recap
Corn futures were lower Thursday with the July contract finishing the session at a one week low of 447’0, dropping 4’0. Across all maturities, volume was a light 301,733, with July seeing 157,586 traded. Overall open interest fell 7,663 (0.46%), with July down 12,075, or 1.82%, to 651,759.

Technicals
Corn futures continued to leak lower in yesterday’s trade, but managed to find and hold our first support pocket from 442 1/4-445 3/4. The market has used that to firm modestly in the overnight and early morning trade, with our pivot pocket from 450 1/2-455 1/4 back within arm’s reach. Consecutive closes above this pocket is needed to neutralize this week’s bearish technical breakdown. A failure to do so coupled with a break below first support, that opens the door for a retest of the May lows from 436-437.

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


Popular Options
Option volumes were highest for the Dec 500 call (7,437) and the July 435 put (3,004). Option open interest is largest for the July 500 calls at 33,921, and the Dec 400 puts at 25,422.

Volatility Update

Implied Volatility settled moderately down with CVL lower by 0.29, to end the day at 24.58. The 30-day historical volatility closed the day down by 0.0055% to 20.72%. The CVL Skew finished the session slightly up, gaining 0.17 to close the day at 3.56.

Seasonal Tendencies Update
(Updated on 5.27.25)

Below is a look at historical price averages for December 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 roughly 18k futures and options contracts through May 13th, making them net short 103,210 contracts. This is their largest net short since last September.

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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

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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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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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