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Oliver Sloup is Vice President of Blue Line Futures. Oliver has been a guest on CNBC and Bloomberg, among others. Oliver has over a decade of trading experience. Prior to Blue Line Futures, Oliver worked as the Director of Managed Futures at iiTRADER.

Blue Line Futures

July 9, 2020

Grain Express: July 9, 2020

The market seems to be holding ground near our pivot pocket, 900-904 ¼, a positive sign for the Bull camp. Resistance remains intact at 913 ½.

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Blue Line Futures

June 30, 2020

Grain Express: June 30, 2020

Corn futures rallied hard yesterday, erasing losses from the back half of last week’s trade, that momentum has carried over into the early morning trade. This momentum comes on the back of short covering ahead of today’s USDA report, out at 11:00am CT.

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Blue Line Futures

June 23, 2020

Grain Express: June 23, 2020

Corn futures saw pressure to start the week, after a weekend of decent weather did little to add premium to the market. Crop Progress was released after the close, that showed good/excellent conditions at 72%, 1% better than last week.

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Blue Line Futures

June 11, 2020

Grain Express: June 11, 2020

Today is WASDE/USDA report day, out at 11am CST. Old crop ending stocks are expected to come in near 2.15 billion bushels, up from the 2.098 we saw last month. New crop ending stocks are expected to come in near 3.36 billion bushels, a notch higher from last month.

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Blue Line Futures

June 9, 2020

Grain Express: June 9, 2020

Weekly export inspections came in at 1,100,00 metric tons, this was towards the top end of estimates. Yesterday’s Crop Progress report showed corn planting is 97% complete in the U.S., in line with estimates. Good/Excellent ratings came in at 75%, as expected and well above last year’s rating of 59%.

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Blue Line Futures

May 13, 2020

Grain Express: May 13, 2020

Yesterday’s USDA report showed 2019/2020 ending stocks at 2.098 billion bushels, below the average trade estimate. The 2020/2021 ending stocks came in at 3.318 billion bushels, below the average trade estimate.

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Blue Line Futures

May 5, 2020

Grain Express: May 5, 2020

July corn futures tried to breakdown yesterday, following a weekend of favorable weather that helped producers stay ahead on planting. Yesterday’s Planting Progress report showed U.S. corn is 51% planted…

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Blue Line Futures

April 30, 2020

Grain Express: April 30, 2020

May futures are officially in delivery mode which could provide some very near-term relief, but the intermediate term fundamental landscape will likely keep the upside limited.

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Blue Line Futures

April 8, 2020

Grain Express: April 8, 2020

May corn futures managed to grind higher yesterday in what was the first positive session since March 26th. Tomorrow’s USDA report is expected to show US ending stocks near 2.004 billion bushels. World ending stocks estimates come in near 298.50 million tonnes.

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Blue Line Futures

March 26, 2020

Grain Express: March 26, 2020

May corn continue to grind higher yesterday, despite news that two more ethanol plants will be closing, due to negative margins. Export sales this morning came in at a whopping 1,814,300 for old crop corn, 81% above the 4-week average.

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Blue Line Futures

March 24, 2020

Grain Express: March 24, 2020

Corn futures traded in a relatively tight range yesterday as the market tries to catch its breath. Does that mean the bottom is in? No. The technical failures and tails left on the chart from Thursday and Friday are still concerning.

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Blue Line Futures

March 18, 2020

Grain Express: March 18, 2020

Outside markets managed to stabilize yesterday but have reversed and are trading limit down in the early morning trade. Crude oil is currently below $25 a barrel, down nearly $2.50 right now.

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Blue Line Futures

March 10, 2020

Grain Express: March 10, 2020

Corn futures managed to hold relatively well yesterday; all things considered. Grains are finding some spillover support from the outside markets finding their footing.

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Blue Line Futures

February 20, 2020

Grain Express: Feb. 20, 2020

Corn futures gave back some ground yesterday as markets remain mostly rangebound amid a slow news cycle. March option expiration may keep March futures pinned near the 380 handle, which is where a lot of the open interest is.

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Blue Line Futures

February 11, 2020

Grain Express: Feb. 11, 2020

Corn futures retreated yesterday, remaining within the technical range ahead of this morning’s USDA report. Though this isn’t typically a market moving report, the possibility for volatility shouldn’t be ignored.

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Blue Line Futures

February 5, 2020

Grain Express: Feb. 5, 2020

March corn futures finished yesterday’s session on higher ground, but there wasn’t enough new news to propel the market out above technical resistance. Outside markets are firming as concerns surrounding coronavirus ease.

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Blue Line Futures

January 24, 2020

Grain Express: Jan. 24, 2020

Corn futures caught a bid yesterday on some good export news, sales of 255,224 metric tons to Guatemala and Unknown (presumably South Korea) were reported. Export sales this morning came in at 1,006,900 metric tons, 28% higher than last week and 92% above the 4-week average.

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Blue Line Futures

January 21, 2020

Grain Express: Jan. 21, 2020

March corn futures rallied hard on Friday, erasing all of Thursday’s losses and then some. Rumors that China secured multiple cargoes of US corn helped offer support, but there hasn’t been confirmation on that yet.

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Blue Line Futures

January 15, 2020

Grain Express: Jan. 15, 2020

Corn futures were mute yesterday as the market ran out of new news to break prices out above technical resistance. Today is the signing of the highly anticipated Phase-1 trade agreement. It will be nice to get some clarity on the “trade deal”, but I wouldn’t hold your breath for something magical to happen. My guess is that Phase-1 is largely an agreement to proceed to Phase-2.

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Blue Line Futures

January 9, 2020

Grain Express: Jan. 9, 2020

The U.S. Department of Agriculture’s Export Sales Report for the week ending Jan. 2 will be published at 8:30 a.m. EST on Friday, Jan. 10, instead of Thursday, Jan. 9, due to the weather-related closure of Washington, D.C.-area federal offices on afternoon of Jan. 7. Corn (March) – If it hasn’t yet, attention now turns to tomorrow’s USDA report, out at 11am CT.

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Blue Line Futures

January 6, 2020

Grain Express: Jan. 6, 2020

Corn futures took a dive on Friday, muting the momentum that had built up in the first half of the week. Tensions between the U.S. and Iran have sparked concern that it may derail the signing of Phase-1 with China next week, because China and Iran recently completed joint military exercises.

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Blue Line Futures

December 16, 2019

Grain Express: Dec. 16, 2019

March corn futures rallied hard in the back half of last week which has carried over into early morning momentum. Much of the relief has come on the back of broad-based buying in the grain sector as US and China have come to an agreement on a Phase-1 trade deal, yet to be signed and implemented. This news has sparked a round of short covering from funds.

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Blue Line Futures

December 11, 2019

Grain Express: Dec. 11, 2019

Yesterday’s USDA report lived up to the expectations, a total snoozer. The USDA left US carryout unchanged at 1.910 billion bushels. The only noticeable change came in an increase in world carryout, 295.5mt to 300.5mt, this came on the back of a 6.7 mb increase of Chinese corn production.

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Blue Line Futures

December 4, 2019

Grain Express: Dec. 4, 2019

March corn futures finished yesterday’s session little changed as market participants continue to look for new news on the wires. Those wires will probably be pretty bare until we get to next week’s USDA report, out on the 10th. Until then, our focus will be on crop developments in South America, along with money flow and technicals.

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Blue Line Futures

November 5, 2019

Grain Express: Nov. 5, 2019

December corn futures were softer to start the week as the lack of bullish headlines coupled with harvest pressure was too much for the bulls to overcome. Crop Progress was released after the close, showing corn conditions unchanged at 58% good/excellent. Harvest is said to be 52% complete, this is 2% behind expectations and 23% behind the five-year average.

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Blue Line Futures

November 4, 2019

Grain Express: November 4, 2019

Last week, corn futures traded both sides of unchanged but finished fractionally higher. Crop Progress will be out this afternoon, after that, much of the attention will turn towards Friday’s WASDE report. We will continue to compile estimates and have those for you by mid-week. Friday’s Commitment of traders showed that funds sold 9,322 contracts from October 22nd to October 29th, expanding their net short position to 85,337.

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Blue Line Futures

October 24, 2019

Grain Express: October 24, 2019

December corn futures managed to stage a rather constructive session, despite prices being little changed at the close. Export sales this morning came in at 491,500 metric tons, up 15% from the four-week average. Yesterday’s weekly ethanol report showed production rose 25,000 barrels per day.

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Blue Line Futures

October 18, 2019

Grain Express: October 18, 2019

The market chopped around yesterday thanks to a slow news day. The weekly EIA ethanol report showed production increase 8,000 barrels per day to 971,000 bpd. Export sales this morning came in at 368,600 metric tons. We remain optimistic on prices but really need to see the demand side of the picture brighten up.

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Blue Line Futures

October 14, 2019

Grain Express: October 14, 2019

December corn futures went bid on Friday as shorts rushed to cover ahead weekend uncertainty. That uncertainty came from the weather and trade talks. Weather ended up being within the realm of expectations which is why you’re seeing futures little changed this morning, this was a classic, buy the rumor sell the news situation; something we wrote about last Wednesday.

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