USDA Preview & Cattle
Presented by Heartland Investor Capital Management Inc. CTA
🌽 Corn
USDA may need to lower old-crop carryout as exports remain stronger than current projections.
Any old-crop reduction carries directly into the new-crop balance sheet.
Corn remains below the 100-day moving average but is holding the 50% retracement area.
Demand is expected to stay strong, with end users waiting for buying opportunities.
A slightly bearish USDA report could still be bought if demand remains supportive.
🫘 Soybeans
New-crop carryout could approach 300 million bushels if yield and demand adjustments turn favorable.
Good August weather continues to support optimism toward soybean yields.
Beans closed below the 62% retracement and 100-day moving average.
Export and crush improvements are needed to help turn the market higher.
Without a friendly report, the next chart target could be the 1150–1140 area.
🌾 Wheat
USDA is expected to trim production, largely because of weaker spring wheat prospects.
Carryout near 700 million bushels would help keep the wheat rally alive.
Wheat has returned to support near the July breakout area around 625.
Black Sea exports remain a major concern as overseas millers draw down inventories.
December Kansas City wheat is still projected to eventually trade above $8.
🐂 Live Cattle
Boxed beef softened while August futures drifted lower.
Cash cattle could remain near $235 this week.
October cattle may pull back toward $222 or slightly below before establishing support.
That area is viewed as a potential launching point for another rally into September.
A later move toward $230–$235 remains possible.
🐄 Feeder Cattle
Feeder cattle stalled near resistance around $348–$350.
The market may still attempt another rebound toward the $354 Fibonacci target.
Upcoming contracts remain discounted, which could limit continuation-chart strength.
The broader outlook has shifted away from a bull market.
Higher rallies are viewed as opportunities to add hedge protection with puts, calls, or LRP.
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.