What 2026 Could Bring
Presented by Heartland Investor Capital Management Inc. CTA
Grain Markets
Santa Claus Rally reversed with corn and wheat giving back gains and soybeans near recent lows
Low holiday volume exaggerating moves and masking developing fundamentals
Seasonal pattern favors a late December to early January turn
South America Weather
Argentina entering a critical reproductive stage with persistent heat and limited rainfall
Temperatures pushing into the 90s with moisture largely absent through early January
Forecasted mid-January rains remain uncertain and must stay intact to prevent yield losses
Brazil Balance Sheet
USDA slow to adjust Brazil carryout despite China shifting demand earlier in the season
Large crop headlines overshadow tightening old-crop availability
USDA January 12 Report
Expectations for lower corn and soybean yields
Potential acreage adjustments could be used to stabilize production and limit carryout declines
Soybeans
Key technical support near major retracement and 200-day average
First-of-the-month tendencies often mark important lows
Upside risk tied directly to Argentine weather deterioration
Soybean Oil And Meal
Soybean oil showing signs of a possible new upward wave pending policy news
Soybean meal holding key support near 300 with potential to turn higher
Corn
Strong export demand with record early-season sales
Ukraine logistical issues supporting US competitiveness
Market consolidating with downside support expected to hold
Wheat
Kansas City wheat struggling to sustain closes above the 200-day average
Likely tied to corn direction for any sustained recovery
Cattle
Live cattle retracing losses with resistance near key retracement levels
Seasonal January softness possible as beef demand eases post-holidays
Feeder cattle approaching resistance with potential for a near-term high
Energy
Crude oil attempting to rally on geopolitical risk but expected to weaken into the new year
Diesel prices likely to trend lower with further buying opportunities ahead
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.