Cattle Thoughts: Will They Be Bought? Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1210626181/74bc967ad1 🐂 Cattle Live and feeder cattle tested major long-term moving average support. Charts suggest a short-term bounce is possible from current levels. Failure to hold support next week would open the door to much deeper losses. Any recovery is currently…
Hedge update on moving old crop corn, and taking profits on spec wheat. The overnight grain trade may have produced a short-term high, and if you have old-crop corn left to move, this rally needs to be rewarded. The next two weeks are a very bearish seasonal for grains, as it’s the cleansing window for…
Overnight, the grain trade exhausted itself on testing of the May highs in wheat and soybeans. Grain Overview Chicago wheat pushed to new annual highs overnight, as traders aggressively priced in growing uncertainty surrounding Black Sea grain exports. Ukraine expanded its attacks on Russian shipping, targeting tankers and tugboats, while Russia intensified strikes on Ukraine’s…
Russia retaliates against Ukraine’s grain ports, as fighting becomes tit-for-tat. Grain Overview There was more military action in the Black Sea overnight with Ukraine targeting and hitting another 11 vessels. Reports now indicate that the Azov Sea port operations could remain disrupted for at least the next month, with the possibility of longer-lasting interruptions. If…
Understanding The Black Sea Risk Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1209984995/55a41ed5f8 Wheat Black Sea tensions continue to escalate. Ukraine is targeting Russian export infrastructure. Kerch Strait shipping remains at risk. French wheat closed near record highs. Technical charts point toward additional upside. Corn & Soybeans Discussion centered primarily on wheat today. Global…
Spec trade: Buy Sept Chicago at market, 640.4 with a 618 stop. Cashed prior wheat trade for a $1200 profit. Major support at the breakout valuation of 625-627 should be strong support along with the 38% retracement at 621.6 on any corrections if they continue develop. Read special report on Black Sea problems released this…
Grains softened overnight despite friendly data this morning from CONAB on their corn and soybean production. Grain Overview This morning’s grain trade continues the reversal from yesterday morning’s strength, as Turnaround Tuesday continues to bleed away the gains generated by this week’s heat stress concerns. Yesterday afternoon’s crop ratings showed corn, soybeans, and spring wheat…
Grains are mixed this morning after a sharply higher run overnight amid concerning weather models. Grain Overview Weather has once again become the dominant market driver, and forecasts are now calling for the type of heat many believed would not develop this summer. Record or near record temperatures are expected across portions of the Western…
WASDE Crop Report Bullish Corn ending stocks along with price friendly wheat production numbers for KC Wheat. Soybean stocks were left equal to June WASDE but friendly compared to estimates.
Wheat futures take the limelight, helping the grain trade recover from overnight weather-driven losses. Grain Overview Overnight grain trade featured selling, especially during the early morning hours after 1:00 a.m., as pressure reasserted itself following GFS and European weather model updates that trimmed Central Plains temperatures from around 100 degrees into the upper 90s. South Dakota…
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