Grinding Gears
Presented by Heartland Investor Capital Management Inc. CTA
Corn
Attempted rally throughout session following wheat strength
Inside day keeps short term direction neutral
Acreage and quarterly stocks report next week driving expectations
Fertilizer shortages may shift acres away from corn
Bullish bias remains into report
Soybeans
Struggled all session with weak technical structure
Failed to break above key moving averages
Acreage expectations weighing on market
Retest of 11.61 likely with risk toward 11.30
New crop protected with downside hedges
Wheat
Supported by confirmed freeze damage in southern Plains
Crop ratings declined led by Kansas
Rallies capped by distant rain forecasts
Watching for moisture to shift into 6 to 10 day window
Inside day signals indecision with potential for another test lower
Weather Outlook
GFS and European models showing moisture in extended window
Better coverage in eastern Kansas and West Texas
European model slightly wetter bias
No meaningful rain in near term forecast
Market sensitive to any shift into shorter term windows
Cattle
Market tied closely to stock market direction
Testing key resistance after recent bounce
Feeder cattle near 20 day moving average
Next session critical for direction
Weak equities could trigger downside pressure
Outside Markets
Volatility driven by geopolitical tensions with Iran
Stock market influencing cattle direction
Crude oil holding firm in the 90s
Limited supportive impact on grains
Macro uncertainty remains elevated
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.