Mild Grain Corrections Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1086885847?share=copy Corn: Corrected slightly but held above key support levelsOld crop exports strong, 100 million bushels above USDA paceMarket bridging gap to Brazilian safrinha harvest in JulyDecember corn near 62% retracement, watching for push to 470Prevent plant and disease pressure building in the Delta…
Soybean oil struggled overnight with changes to 45Z tax credits. This morning’s trade is mixed following a mostly lower evening session. Last night’s correction began as soybean oil moved sharply lower due to disappointment over the 45Z tax credits being diminished in the Congressional budget bill. The credits lost transferability, reducing their value to biofuel…
Grains are universally higher this morning. The grain trade is higher this morning as buying interest continues to resurface, with index funds actively short covering in both wheat and corn. One driver of this move is the addition of a risk premium, as more doubt is being cast over current USDA production estimates, especially for…
Wheat Low Has Anchored Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1086157602?share=copy Wheat: Wheat rally continues amid disease pressure in Kansas and soft wheat areasSevere drought and extreme heat in China’s main wheat belt drawing global attentionChina’s poor crop could reduce global supply and increase demand for imports later in the yearV-bottom formation complete;…
Spec trade: Sell an August Live cattle at the market, 207.75 last with a 210.12 stop.
Wheat leads overnight strength. This morning’s grain trade is sharply higher in wheat, while corn is also recovering well due to concerns that rainfall may impact final acreage totals. Preventive planting is becoming a growing topic in the Delta and Southern Midwest and in parts of North Dakota, which have been inundated with rain over…
Grain futures start the week firm overnight. This morning’s grain trade is firmer, which has been a common pattern over the past several sessions, where strength in the night session tends to be sold during the day. Still, the firm tone is a pushback against recent selling, as mixed weather conditions are developing across the…
Friday’s grain trade will start out mixed. After a mixed overnight performance, the grain trade is slightly softer this morning. Soybeans are catching their breath after a sharp decline in futures yesterday, which followed limited losses in soy oil due to uncertain demand outlooks. US biodiesel blending remains unclear, with signs suggesting it may now…
Possible Wheat Bottom & Cattle Top Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1084750239?share=copy Cattle: Continued collapse confirmed by outside day down and gap lowerAugust cattle broke 10-day average, likely targeting 201-202 for supportFeeder cattle under pressure, eyeing 290 range as wave correction unfolds Soybeans: EPA’s RVO plan slashed biofuel demand by 20%, collapsing…
Oops, Cattle Did It Again Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1084389139?share=copy Live Cattle: Outside day down and outside week down signals potential top.Monday gap up on Mexican news quickly reversed, ending in capitulation.Possible causes: insider news leaks, weak consumer demand per Walmart comments.Closed above 10-day moving average; break below confirms bearish shift.Fibonacci…
