Weekend Ag Update (Grains & Livestock)

Weekend Ag Update

March 24, 2019

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Grains & Livestock


Corn


Last Weeks Close: May corn futures finished Fridays session up 2 cents, extending gains for the week to 5 cents. Fridays Commitment of Traders report showed that funds sold 3,361 contracts through March 19th, extending their net short position to 261,326 futures/options.


Quick Take:Weather has been a growing concern in the Midwest. It is a possibility that we see planting delays in areas and maybe even a shift of acres from corn to beans. Freight disruption on flooded rivers is also a concern with plenty of snow melt yet to come. We believe this issue will stick around for a minute, which could encourage a wave of fund short covering. The technicals started to firm up last week, prompting us to change our bias from Neutral/Bullish to outright Bullish, in our Thursday morning report. Check out our Grain Express tomorrow morning for the full technical breakdown.


Soybeans


Last Weeks Close: May soybeans finished Fridays session down 6 cents, putting prices 5 cents lower for the week. Fridays Commitment of Traders report showed that funds bought 26,205 contracts through March 19th, trimming their net short position to 63,922 futures/options.


Quick Take:Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.


Wheat


Last Weeks Close: May wheat futures finished Fridays session down 1 cents, trimming gains for the week to 4 cents. Fridays Commitment of Traders report showed that funds sold 1,359 contracts through March 19th, extending their net short position to 73,506 futures/options.


Quick Take:Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.


Live Cattle

Last Week's Close: April live cattle futures finished Fridays session down .075, trimming gains for the week to .70. Fridays Commitment of Traders report showed funds bought 16,446 contracts through March 19th, extending their long position to 145,159 futures/options.


Quick Take:Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.


Feeder Cattle



Last Week's Close: April feeder cattle futures finished Fridays session up .05, putting futures up 2.00 for the week. Fridays Commitment of Traders report showed that funds bought 3,273 contracts through March 19th, putting them net long 2,048 futures/options.


Quick Take:Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.


Lean Hogs


Last Weeks Close: April lean hog futures finished Fridays session down .275, trimming gains for the week to a whopping 9.25. Fridays Commitment of Traders report showed that funds were buyers of 11,723 contracts through March 19th, putting them net long 8,090 futures/options.


Quick Take:Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.


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Futures trading involves substantial risk of loss and may not be suitable for all investors. 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.