Are We There Yet?
Presented by Heartland Investor Capital Management Inc. CTA
Market Overview:
Broad selloff across commodities and equities tied to uncertainty over Supreme Court hearings on Trump-era tariffs. Risk-off sentiment weighed on soybeans, corn, wheat, and cattle.
Soybeans:
Wave-three rally peaked near $11.36 Fibonacci target. Current correction likely wave four with support near $11.03 and potential retest of $10.80–$10.90.
Possible pre–crop report low before rebound.
Yield expectations near 52 bushels could tighten carryout to 210 million, supporting $12 upside potential.
Corn:
Outside-day pattern neutralized by conflicting moves. Market tracing ABC correction toward 4.24½ support.
USDA report next week expected to show yield near 184, seen as friendly.
Longer-term bullish wave-three structure intact.
Wheat:
Chicago wheat broke sharply after weak Chinese purchases.
Cycle high hit Wednesday; now in liquidation toward 5.30–5.28 support zone.
Kansas City wheat still bearish but may be forming head-and-shoulders base for winter recovery.
Cattle:
Live cattle extended liquidation after technical failure; possible support near 311 with rebound potential.
Longer-term target around 295–305.
Feeder cattle bearish trend intact; possible short-term consolidation around 315 before further weakness.
Crude Oil:
In wave-three decline but showing resilience relative to equities.
Seasonal lows expected late this year or early next; fuel buying deferred until then.
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.