Oops, The USDA Did It Again
Presented by Heartland Investor Capital Management Inc. CTA
Corn:
Prices up over 20 cents in a week, breaking resistance
Pro Farmer tour shows weaker ear length, kernel depth, crop variability
USDA yield assumptions questioned, especially on Southern acres
Exports 860,000 MT, above highest estimates
December corn holding above 20-day moving average, targeting 425–430 resistance
World stocks-to-use ratio near 9%, potential Brazil risk next spring
Soybeans:
Prices lifted by strong exports and biodiesel policy expectations
Wave patterns suggest potential rally to $11–11.50
Dryness concerns could trim yields into September
Soybean meal pressured by large shorts, nearing $300 support
Soybean oil chart breaks resistance, upside potential into 60s
Wheat:
Outside day reversals signal strength, aided by corn and beans
Kansas City and Minneapolis contracts bounced off support
Resistance near 615–620 December Minneapolis wheat
Better seasonal strength expected mid-September to November
Crude Oil:
Hammer low signaled turn higher this week
Recovery rally targets 64.75–65.50 range
Demand stronger than expected, stock draw supports
Cattle:
Cattle on feed numbers lower than last year
Feeder cattle at lowest levels since 2015
Bullish wave count suggests extended rally toward 369–372
Seasonally strong period through September, potential “rhino horn” surge
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.