WASDE Preview & Cattle Patterns
Presented by Heartland Investor Capital Management Inc. CTA
🌽 Corn
Friday’s USDA reports put corn yield front and center.
The trade expects 177.8 bushels; we expect 177 or lower.
Lower yields could offset larger stocks and tighten carryout.
Corn held near $5; $4.85 still fits the broader uptrend.
A friendly report could spark gains into early November.
🌱 Soybeans
The trade expects 52.9-bushel yields and 311 million bushels of carryout.
We remain friendly despite resistance; $12.30 allows room for recovery.
Carryout below 315 million supports gains; under 300 million is very bullish.
Meal needs a close above $375 to strengthen the rally.
Soybean oil could revisit 72; closes below 65 weaken the outlook.
🌾 Wheat
Wheat remains the “dog that won’t hunt,” awaiting corn’s direction.
Slower exports could lift carryout to 727 million bushels.
European wheat sits just 15–20 cents below yearly highs.
A shrinking U.S. premium should improve export competitiveness.
Friendly October seasonals could help attract buying.
🐂 Cattle
Live cattle keep defending the 100-day average and recovering into the close.
December above $224.20 targets $227, then potentially $230–$233.
We expect an early-November snag and weakness into Thanksgiving.
Seasonals turn strongly friendly after a possible early-December stumble.
February cattle could reach $238–$242 into the new year.
🐄 Feeder Cattle
Feeders defended $330, setting up a possible Friday rally.
Resistance sits near $339 and $341.27; the upside target is $344.
March could reach $332 or higher before rolling over.
A February decline could reach $285–$295 before a spring recovery.
On rallies, consider puts, calls above $342, or LRP coverage.
🌦️ Weather
Reduced Illinois rain expectations should keep harvest moving.
Southern Indiana and Ohio face greater rain delays.
Harvest pressure could persist for another eight to nine days.
Western Corn Belt rain could develop Wednesday.
Minnesota and Iowa could see over an inch late next week.
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.