March Corn Futures Trading news – BrokersEDGE Newsletter 2-11-19

March Corn futures trading

Last Week’s Close: March corn futures finished Friday’s session done 2 ¼ cents, trading in a range of 7 ¾ cents. Futures were down 4 cents on the week.
Fundamentals: Friday’s highly anticipated USDA report was a bit of a snooze fest for those expecting a pop in volatility. That type of market reaction all but confirms our stance that the market is as efficient as ever, making scheduled reports less significant. One of the headwinds for Ag markets recently has been the resurgence in the U.S. Dollar, as it continues its longest daily win streak in two years.
Technicals: The failure against resistance last week has led to some long liquidation, taking prices to their lowest levels in nearly a month. Though we remain optimistic on prices, bulls are starting to get nervous. A failure to defend 371-372 ½ on a closing basis could lead to a bigger technical breakdown.

Bias: Neutral/Bullish
Resistance: 377-378 ¼**, 382-384 ½**, 388-390 ½****
Support: 371-372 ½***, 367 ¼-368 ½****, 354 ¾****

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Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. DAW Trading (“DAW”) uses various outside sources for research material regarding futures and options on futures trading therefore the views and opinions expressed in this letter may not necessarily reflect the view of DAW or its staff. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to DAW.

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