OliverSloup_BlueLine

OliverSloup_BlueLine

Fundamentals: This morning’s weekly export sales report showed net sales of 185,800 MT for 2021/2022 were up 23 percent from the previous week, but down 52 percent from the prior 4-week average. Net sales of 48,700 MT for 2022/2023 Technicals (July): Corn futures took a breather yesterday, trading in a relatively narrow range, keeping technical levels intact...

OliverSloup_BlueLine

July soybean futures have been volatile over the last five sessions, trading in an average daily range of 52 cents. The market is threatening the upper end of the recent trading range which is also the contract high. If the Bulls can chew through this pocket, it would put prices in "uncharted territory" and momentum could begin to feed on itself. With that...

OliverSloup_BlueLine

The WEAT ETF has taken a sharp turn lower over the last two days as wheat futures continue to sell off of on long liquidation. It's important to note that the WEAT ETF is comprised of different wheat futures contracts, which may not be a 1:1 correlation with the front month contract. This was especially noticeable on the initial rally in February, where front...