Are We Breaking Out To The Upside
Presented by Heartland Investor Capital Management Inc. CTA
Corn
Corn is holding key retracement levels and pushing into wave three. Strength above recent highs targets 466, then 470 to 476. December eyes 510 on breakout potential with acreage uncertainty supportive.
Soybeans
Soybeans pushed to six week highs with July nearing 12 dollars. Soybean oil strength tied to crude supported the move. Breakout targets now sit above 1240 with momentum building.
Wheat
Kansas City wheat posted its highest close of the year. Freeze damage and ongoing drought stress are driving the rally despite rain forecasts. Targets extend toward 680 to 702.
Minneapolis Wheat
Spring wheat hit new yearly highs with continuation charts turning higher. Upside targets range from 700 to 720 where old crop sales are likely to accelerate.
Cattle
Cattle markets are under pressure with five straight lower sessions following contract highs. Key support must hold or further liquidation could accelerate amid uncertain demand signals.
Crude Oil
Crude rebounded after testing 80 dollars and is now stalling near 91. Strength here continues to support soybean oil and broader grain markets tied to energy.
Weather Outlook
Plains weather remains unfavorable with drought in western areas and missed rains. Freeze damage combined with heat accelerates deterioration despite late week rain chances.
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.