Trump Traders Surrender
Presented by Heartland Investor Capital Management Inc. CTA

Trump Traders' Surrender:
Trump traders anticipated large South American crops and Chinese tariff escalations.
Tariffs from Trump's first term remained; Biden didn't enforce China's $25 billion agriculture commitment.
Rally reflects weather, not tariffs, and signals a shift as shorts liquidate positions.
South American Weather Concerns:
Buenos Aires, a major soybean producer, remains dry with minimal rain since December.
Rain forecasts for southern Brazil and Argentina have underdelivered.
Brazil’s soybean harvest lags, risking delayed corn planting and poor pollination conditions.
Soybean and Corn Futures Analysis:
January 20 rallies typically mark seasonal highs, with February corrections expected.
Soybean price resistance projected at $10.75–$10.95; potential for short-dated put options to hedge risk.
Corn futures nearing $5.00, with wave patterns suggesting pullbacks before April/May highs.
Wheat Market Developments:
Wheat broke out of a long-term coil, targeting $6.20–$6.30 per bushel.
Russia’s poor crop conditions and lack of snow cover could support prices.
Springtime rallies likely provide sales opportunities.
Feeder Cattle Trends:
Resistance at $2.68 persists despite strong cash trade.
March contract faces pressure from upcoming Kansas and Texas wheat field runs.
Potential for $10/cwt correction if trendline support breaks.
Crude Oil Dynamics:
Crude oil broke above $80, driven by geopolitical risks and technical factors.
Market trends below $80 signal potential long-term downside.
Speculative short trades hit stops; adjustments needed for future entries.
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.