WASDE Aftershock
Presented by Heartland Investor Capital Management Inc. CTA
Corn:
Record 188.8 yield with 2 million added acres to 97.2 million planted
Production at 16.742 billion bushels, above expectations
Heavy supply weighs on wheat via feed substitution
Soybeans:
Record 53.6 yield but acres down 2.9 million to 80.1 million harvested
Production 4.292 billion, under average trade guess
Carryout drops sharply, possible Chinese buying could push prices over $14
Wheat:
Spring wheat yield falls to 48.4 from 50.4 last month
Carryout 869 million, slightly below expectations
Seeking value base despite pressure from corn feed demand
Weather Outlook:
North Dakota increased 8.2% corn acres but faces freeze risk
2016-like moisture but less sunlight this year
Late fall critical to avoid yield losses
Livestock:
Cattle in wave two/B recovery rally, possible resistance at 231 October futures
Feeder cattle resistance near 347-348, support at 331
Box beef prices support cash trade in short term
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.