Grains Quiet in the Early Morning Trade

Grain Express

/ by Blue Line Futures

Grains Quiet in the Early Morning Trade

Grain markets are relatively quiet in the early morning trade with a holiday tomorrow and July options expiration on Friday.

Important Notes
Grain markets are closed on Thursday in observance of Juneteenth. They will reopen at 7pm CT Thursday evening.
July options expire on Friday. If you’re in July grain futures, you may want to consider exiting or rolling positions prior to the weekend.

Wheat


Tuesday’s Recap
Wheat futures were sharply higher Tuesday with the Sep contract finishing the session at a one week high of 565’4, adding 13’2, or 2.40%. Overall volume was a heavy 174,196, with Sep seeing 66,629 done. Total open interest increased 2,783, or 0.67%, with Sep up by 12,783 (7.60%) to 181,020.

Technicals
July wheat futures posted a stealthy rally yesterday, taking out and closing above the highs from the prior two sessions. The market has continued to firm modestly overnight with prices knocking on the door of our resistance pocket from 552-556 1/4. If the Bulls can chew through this pocket, we could see technical short covering lift prices 20-25 cents higher in relatively short order. As mentioned in the corn and soybean section, the shot clock is on for July futures. So, if you’re looking at establishing a position you’ll want to look at September or December.

Technical Levels of Importance
Resistance: 552-556 1/4** 569 1/4-571***
Pivot: 536-541
Support: 521 3/4-527 1/2***, 498-501 1/4***


Popular Options
The July 530 put saw the most changing hands with 2,347 contracts done. Option open interest is largest for the July 600 calls at 12,422, and the July 550 puts at 9,318.

 

Volatility Update

Wheat implied volatility ended the session unchanged (WVL) to finish the day at 29.14, a one week high. Historical volatility (30-day) finished at 28.82%, higher by 0.69%, to a one month high. The WVL Skew closed the day even, unchanged for the session 0.0 to finish at 8.46, a one week high.

Seasonal Tendencies Update
(Updated on 6.16.25)

Below is a look at historical price averages for December 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
Friday’s Commitment of Traders report showed Funds were net buyers of roughly 6.5k futures/options.

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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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All information, communications, publications, and reports, including this specific material, used and distributed by Blue Line Futures LLC shall be construed as, or is in the nature of, a Solicitation for entering into a futures transaction. Blue Line Futures LLC does not employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71.

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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