USDA Stocks Preview
Presented by Heartland Investor Capital Management Inc. CTA
🌽 Corn
September 30 stocks are expected near 1.924 billion bushels.
Below 1.9 billion would be notably bullish.
We believe wave four may be behind us.
The 514 retracement area held as support.
A close above 530 would favor the next leg higher.
Friendly data could quickly bring 549 into play.
🌱 Soybeans
Soybean stocks are expected near 323 million bushels.
Estimates range from 305 to 335 million.
We believe Monday may have marked a low.
The market is refocusing on continued Chinese buying.
A move above 1304 would show renewed strength.
A close above 1331 would confirm a stronger move higher.
🌾 Wheat
Wheat is testing major technical support.
The market has fallen for three straight sessions.
Black Sea uncertainty remains supportive.
Chicago wheat is testing its 73-day moving average.
A close above 705 would suggest a turn higher.
Tomorrow’s reports could provide the catalyst.
🐂 Cattle
December cattle held support near 218.75 to 219.
Today’s low came in near 218.87.
The open gap continues to hold.
Resistance remains near 223.
The next hurdle is 224.50 to 225.
We still see potential for a test of 230.
🐄 Feeder Cattle
November feeders continue to battle 333 resistance.
Support held near 326.50.
The continuation-chart gap remains intact.
A break above 333 could open 338 to 343.
We continue to look for a recovery into mid-October.
Higher prices could create LRP or option opportunities.
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.