WASDE Preview & Grain Outlook
Presented by Heartland Investor Capital Management Inc. CTA
Soybeans:
Struggled to stay above $10 but managed to close above this key level.
Pressured by global supply factors and recent U.S. elections.
Potential upward trend if prices stay above 1008-1009 level.
Crop Production and WASDE Report Prep (Nov. 10):
Corn yield expected around 183.8 bushels per acre, with some estimates slightly lower.
Soybean production revised down by about 0.3% from last month.
Estimated soybean carryout near 500 million bushels.
Corn Market Outlook:
Carryout down to approximately 1.938 billion bushels from 1.99, indicating higher usage.
Possible winter rally for corn with a target range of $4.80 to $5.00.
March contract likely to see export-driven price boost.
World Crop Projections:
Corn yields down from last year, with Ukraine’s production affected.
Global wheat stocks declining, though often underestimated by projections.
Cattle Market Movements:
Prices declining, with December cattle in discount to cash.
Targeting the 183.5 level as support; signs of weakening demand.
Feeder cattle also under seasonal pressure until year-end.
Crude Oil Analysis:
Recent surge to $77-78 marks a resistance level.
OPEC’s delay in increasing production is temporarily supporting prices.
Expected to resume a downward trend towards year-end.
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.