Grains & Cattle Will They Or Won't They

Presented by Heartland Investor Capital Management Inc. CTA

Corn:
 Early strength faded on profit-taking after reaching key resistance at 436
Wave three rally remains intact with possible retest near 442–445 if Trump-Xi meeting goes smoothly
Potential pullback to 423–425 area seen as part of wave four correction

Soybeans:
 Rally hit 1108 before reversing on farmer sales and profit-taking
Wave four correction possible down to 1184 or deeper if talks sour
Upside target to 1191–1200 still viable into January on tight carryout outlook

Wheat:
 Followed corn and beans higher early, then softened on profit-taking
Market awaiting U.S.-China developments for direction

Cattle:
 Live cattle found support near 32.8% retracement, suggesting a B-wave bounce
Possible rebound to 235–240 before C-wave decline resumes toward 208–210
Feeder cattle stabilized after limit-down, potential bounce to 345 before retesting 300–290 later this winter

Crude Oil:
 Likely ending its bounce, entering wave three of three to the downside
Short positions favored as OPEC meeting expected to confirm bearish sentiment
Fuel buyers advised to await lower price opportunities into year-end

Market Outlook:
 Short-term volatility expected around Trump-Xi meeting
Grain rally pauses but remains structurally bullish into early 2025
Cattle rebound limited before further downside
Energy markets turn lower as global demand softens

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.