Possible Wheat Bottom & Cattle Top
Presented by Heartland Investor Capital Management Inc. CTA
Cattle:
Continued collapse confirmed by outside day down and gap lower
August cattle broke 10-day average, likely targeting 201-202 for support
Feeder cattle under pressure, eyeing 290 range as wave correction unfolds
Soybeans:
EPA's RVO plan slashed biofuel demand by 20%, collapsing bean oil
Soybeans followed lower but bounced off 200-day moving average
Market may rebound if regulatory outlook shifts or biofuel sentiment recovers
Corn:
Corn exports hit 1.66 MMT, reducing needed weekly exports to just 3 million bushels
July corn needs to reclaim 457-458 to signal failed C-wave
December corn holding key lows, still lacks weather premium despite summer risks
Wheat:
Chicago and KC wheat showing classic V-bottom patterns off long-term support
KC wheat needs to clear 545-550 to confirm reversal
Global concerns: China heat, EU dryness, and stripe rust risks
Gold:
Found support around 3123 after ABC pullback from 786 retracement
Rebounded strongly, suggesting potential for renewed upside
Inflation data supports potential rate cuts, aiding gold recovery
Crude Oil:
Rumors of Iran nuclear deal pressured prices briefly
Currently testing resistance around 64-66; failed wave or breakout possible
Need close above 66 to shift bullish wave count
Provided by:
Eugene Graner,
Heartland Investor Capitol Management, Inc., CTA
(A separate entity from Heartland Investor Services)
Past performance is not indicative of future results. The information contained in this report is intended for informational purposes only and is the opinion of the writer and may change at any time. This information was compiled from sources believed to be reliable to Heartland Investor Capital Management, Inc. but accuracy cannot be and is not guaranteed. There is no warranty, expressed or implied, in regards to this information for any particular purpose. There is SIGNIFICANT RISK of LOSS involved in trading futures and / or options on futures and may not be suitable for all investors. Investors should consider these RISKS and evaluate their suitability based on their financial conditions. No one should ever consider trading futures or options on futures with anything other than RISK CAPITAL. NO LIABILITY on the part of the author exists for any trading loss you may incur in the use of this information. The information contained in this newsletter is privileged, confidential and protected from disclosure. Any further disclosure or use, distribution, dissemination or copying of this message or any attachment is strictly prohibited. Provided by Heartland Investor Capital Management, Inc. a registered CTA with the NFA, of which Eugene Graner is principal. This entity is a separate legal entity from the Introducing Broker Heartland Investor Services.