Oops!… Wheat Did It Again
Presented by Heartland Investor Capital Management Inc. CTA
Wheat
Sharp reversal higher as weather shifts from freeze to extreme heat risk in the Plains.
Dry conditions persist across key winter wheat regions, stressing crop recovery.
Market likely completed wave four low and now targeting a move toward $7.
Second highest close in over a year confirms strong momentum shift.
Corn
Pulled higher by wheat strength via spread action.
Technical pattern suggests continuation higher with potential five wave advance.
New crop strength supporting old crop through replacement cost psychology.
China demand speculation continues to underpin bullish outlook.
Soybeans
Stabilizing after limit down move but still technically weak.
Inside day trading keeps direction uncertain for now.
Soybean meal showing strength and may lead next leg higher.
Bean oil likely entering a deeper corrective phase.
Gold
Pulled back sharply following Fed decision to hold rates steady.
Tested mid $4800s with potential support forming near $4800.
Lack of rate cuts continues to pressure upside momentum.
Market may remain rangebound until clearer Fed policy shift.
Cattle
Recovered after early weakness but closely tracking stock market direction.
Resistance near key moving averages remains critical.
Feedlot tensions rising as packer margins improve.
Cattle on Feed report expected to delay major cash movement.
Market direction tied to equity performance short term.
Macro Drivers
Weather shifting from freeze damage to heat and drought stress in Plains.
Fed policy remains restrictive, impacting gold and broader risk sentiment.
Stock market acting as key directional signal for cattle markets.
Biofuel policy updates expected later this month.
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.