Grains Fight Through Bearish News
Presented by Heartland Investor Capital Management Inc. CTA
🌽 Corn
Corn shook off the early pressure and briefly traded higher before closing with moderate losses.
The break held near 528 support, and prices quickly recovered after testing the corrective zone.
A close above 544 Friday would strengthen the case that the next leg higher is underway.
Longer term, fundamentals continue to support expectations for $6+ corn into winter.
🫘 Soybeans
Soybeans were the strongest grain market, finishing higher despite the bearish headlines.
The market has already completed a cleaner ABC correction and continues to show bullish structure.
The next upside objective remains roughly 1330–1360, where additional new-crop sales may be considered.
🌾 Wheat
Wheat came within roughly a penny of limit down before recovering about half of its losses into the close.
The Black Sea remains the key fundamental story as fighting continues and export movement remains difficult.
The technical structure continues to favor higher prices after the sharp two-day correction.
Kansas City wheat remains capable of pushing toward the $9 area if Black Sea concerns begin tightening world supplies.
🌍 Black Sea
Putin’s peace-related comments initially triggered the sharp grain selloff, but major territorial disagreements remain unresolved.
Continued military activity in the Black Sea reinforced doubts that normal grain movement will return anytime soon.
Without dependable deep-water port access, moving large volumes of Ukrainian grain by truck or rail remains difficult and expensive.
🐂 Cattle
Live cattle bounced sharply, with February continuing to hold important retracement support.
The recent decline may be nearing the end of its cycle, although October could still retest the 208–210 area.
Longer-term expectations remain for deferred cattle to eventually recover toward the 240 area.
🐄 Feeder Cattle
Feeders are also showing signs that a corrective bounce may be developing.
Resistance sits near 330–332, which could provide another opportunity to establish downside protection.
Longer term, January and March feeders could still work toward the 285–295 area after the recovery runs its course.
Provided by:
Eugene Graner,
Heartland Investor Capitol Management, Inc., CTA
(A separate entity from Heartland Investor Services)
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