Can A First Of The Month Low Hit?
Presented by Heartland Investor Capital Management Inc. CTA
Soybeans
Price action fell back into the middle of the recent multi week trading range
July beans posted the weakest close since the March breakdown period
Trade expectations around Chinese demand remain unmet with limited new purchases
Support sits near key moving averages with potential for short term bounce risk
Corn
Corn remains under sustained pressure with failed rallies into higher resistance zones
Old crop sales were cleaned up near the recent bounce highs
Market structure points to continued range trade with downside bias still present
Longer term outlook hinges on whether December futures can regain the five dollar area
Wheat
Wheat markets saw sharp downside extension with accelerated liquidation into support zones
Chicago futures briefly tested deep retracement levels before stabilizing above them on close
Minneapolis spring wheat collapsed into major technical support areas near long term levels
Conditions suggest oversold market structure but continued volatility remains likely
Weather Outlook
No major weather premium is currently driving grain direction
Focus remains on demand side factors and technical positioning
Short term bounce potential exists but trend recovery requires new fundamental catalyst
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.