Everybody Talks Peace, Yet Wars Continue
Presented by Heartland Investor Capital Management Inc. CTA
🌽 Corn
Corn followed crude oil lower into the close after trading near $5.41.
European corn surged again and sits near contract highs.
Their crop may be roughly 15 MMT below earlier expectations.
We still believe corn is working through Wave 5 with upside ahead.
China buying or continued harvest delays could provide the next catalyst.
🫘 Soybeans
Soybeans pushed back toward recent highs before giving ground late.
The Trump-Xi meetings remain a major focus later this week.
Additional Chinese buying could create another sharp move higher.
Soybean meal is pressing major resistance and could help power beans.
We still believe soybeans eventually have a path above $14.
🌾 Wheat
Wheat continues to struggle despite ongoing Black Sea uncertainty.
Peace continues to be talked about while the fighting continues.
A move through roughly $7.32 could force sellers to unwind positions.
Seasonally, wheat tends to strengthen into late September and early October.
🛢️ Crude Oil
Crude oil headlines controlled much of today’s grain trade.
Prices swung sharply on changing reports surrounding Iran and possible peace talks.
Every new headline quickly spilled over into corn, beans and wheat.
Energy direction remains important heading into tonight’s grain trade.
🌦️ Weather
More rain could slow harvest across parts of Nebraska, Iowa and Minnesota.
Northern Brazil remains dry as planting gets underway in Mato Grosso.
That dryness becomes increasingly important as we move into October.
Southern Brazil and Argentina are seeing a wetter pattern.
🐄 Cattle
Cattle broke on unconfirmed rumors surrounding ICE activity at Kansas packing plants.
We still believe the larger cattle low is in place.
December cattle continue to hold the $220 area despite bearish pressure.
Our longer-term work still favors another recovery in cattle prices.
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.