Don't Poke The Bear
Presented by Heartland Investor Capital Management Inc. CTA
Corn:
Closed firm with strong finish.
Wave three triggers above 452 and a quarter with targets toward 466 to 470.
Weekly trend remains higher since early October.
January USDA report could lower yields and raise demand.
Dollar weakness adds tailwind.
Soybeans:
January beans still vulnerable to test 1080 to 1085 gap.
Wave structure suggests a bit more downside unless meal stabilizes further.
Bean oil could still move toward 50 before turning.
Argentina weather remains a major January wildcard.
Wheat:
Closed on the high tick.
Geopolitical risk from Russian refinery attack helped support prices.
China’s late planted crop may force spring imports.
Signals remain constructive for a winter rally.
Stops held well on Kansas and Chicago contracts.
Cattle:
Cash trade strong with packers short bought.
Fat cattle near 231 to 232 resistance with upside potential toward 235 before an ABC pullback.
Seasonal winter conditions could support a late winter rally toward 239 to 241.
Feeder cattle:
Gap higher today could be exhaustion or measuring gap.
Upside risk toward 350 before correction toward 330.
Long term structure suggests a head and shoulders top into 370 before turning lower.
Gold and Silver:
Gold pushed through 78 percent retracement but needs confirmation.
Silver surged sharply with ratio tightening from 80 to 67.
Potential year end profit taking due to mark to market tax rules.
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.