Soybean Oil Flies
Presented by Heartland Investor Capital Management Inc. CTA
Soybeans
Bean oil surged on EPA RVO rumors pointing to higher biodiesel mandates
RIN concessions via used cooking oil imports capped enthusiasm but still supportive
Brazil cut soybean acreage, trimming production by one million metric tons
Argentina faces developing heat and drying risks into late January pod fill
Technicals improved with futures testing the 200 day moving average
Soybean Oil
Strong crush and tighter than expected oil stocks fueled sharp gains
Wave three remains intact after holding November lows
Momentum positions oil as the current sector leader
Corn
China corn prices at six month highs while U.S. corn sits at five month lows
Pattern mirrors 2020 ahead of major Chinese buying
A potential eight to ten million metric ton purchase would tighten U.S. carryout sharply
Key support near 410 remains critical
Crude Oil
Prices slipped back below key moving averages
Rising U.S. inventories and easing geopolitical risk pressure values
Downside targets near 55 dollars remain in focus
Cattle
Feeder cattle pushed to new recovery highs while live cattle stalled
Cash trade stability remains uncertain near 232 to 233
Brazil beef flows toward the U.S. increase longer term risk
Inventory and cattle on feed reports later this month loom large
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.