What About Brazil's Corn Crop?
Presented by Heartland Investor Capital Management Inc. CTA
Corn:
Corn is mixed after overnight strength faded on tariff uncertainty with China.
Markets are watching Brazil Safrinha crop stress from dry planting conditions.
Key regions in Mato Grosso and Goias show limited rainfall ahead.
Production risk remains tied to pollination timing and heat windows.
Old crop sales near 477 with targets toward 492.
Longer term upside still tied to acreage cuts and tighter U.S. carryout.
Soybeans:
Soybean strategy remains focused on downside protection using puts.
Current positioning is centered around 1180 strike with partial premium invested.
Plan is to roll gains forward if late summer weakness develops.
China demand expectations remain a key support factor.
Tariff structure is still unresolved and limiting fresh buying.
Wheat:
Wheat failed to sustain upside after missing resistance levels overnight.
Short term pattern suggests a corrective phase may still develop.
Downside risk remains toward prior breakout zone near mid 650s.
Longer term outlook remains bullish on supply and input cost concerns.
Global fertilizer constraints continue to support future production uncertainty.
Weather and geopolitics remain secondary drivers into new crop season.
Cattle:
Live cattle remain volatile with wide discount to cash values.
Feeder cattle showed sharp reversal after breaking key support then bouncing.
Market now focuses on continuation chart resistance near mid 360s.
Close above resistance would invalidate recent breakdown.
Failure could open downside toward lower 340s.
Structure remains choppy and technically unstable.
Provided by:
Eugene Graner,
Heartland Investor Capitol Management, Inc., CTA
(A separate entity from Heartland Investor Services)
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