Fireworks Continue In The Grains
Presented by Heartland Investor Capital Management Inc. CTA
Corn
Turnaround Tuesday failed as buyers stepped back in.
Heat expands into the western Corn Belt July 18-22.
Pollination stress could trim yields toward 181 bpa.
Exports remain strong while acreage questions linger.
Sub-$1.7B carryout keeps upside potential alive.
$5 December corn remains a realistic objective.
Soybeans
Beans continue to build on the June lows.
Weather concerns and China demand remain supportive.
Technical trend stays constructive above key support.
Resistance sits near the $12 level.
Marketing patience remains the preferred strategy.
Focus shifts toward August weather risk.
Wheat
Harvest pressure appears to be fading.
200-day moving average continues to hold.
Corn strength is providing leadership.
European weather remains supportive to prices.
Harvest lows may already be in place.
Momentum favors additional recovery.
Weather
GFS added more heat into the July 18-22 window.
South Dakota, Nebraska and Iowa remain key concerns.
Pollination coincides with expanding heat stress.
Soil moisture could deteriorate rapidly.
NOAA’s developing El Niño is becoming a larger long-term story.
Australia and Brazil may face future production risks.
Cattle
Live cattle held important chart support Tuesday.
Cash and boxed beef remain constructive.
Feeder cattle continue to underperform futures.
Trend indicators are beginning to weaken.
A recovery is needed soon to avoid further liquidation.
Technical support remains critical this week.
Crude Oil
Crude reversed sharply higher late Tuesday.
Iran headlines added geopolitical support.
Prices bounced from major technical support.
Recovery toward the low-$80s is possible.
Energy strength added late support to grain markets.
Volatility 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.