Chinese Corn Prices Haven't Broken Yet
Presented by Heartland Investor Capital Management Inc. CTA
Weather and Outlook:
Dryness more concerning than cold for wheat
Natural gas rally highlights unreliable weather models
La Niña fading, neutral possible, El Niño uncertain timing
Summer heat and dryness could support corn
Corn:
Strong support near 420 level
Rising lows despite large supplies
China price premium may trigger US buying
Farmers holding grain, limiting downside
Soybeans:
Holding higher highs and higher lows
Double bottom near 1038 area
Trend stays intact above 353
Meal supportive as oil stalls
Wheat:
Struggling to hold above 530
Multiple attempts showing underlying strength
Gradual upward momentum building
China and Global Demand:
Chinese corn futures near six month highs
Wide spread with US prices unlikely to last
Holiday delays buying until mid February
Possible spring buying surprise
Cattle:
Cattle on feed report expected bullish
Live cattle consolidating below highs
Feeder cattle testing key support
Seasonal weakness into February
Energy and Outside Markets:
Crude oil turning lower
Tariff easing supports downside risk
Fuel buying opportunity likely in February
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.