Post WASDE Report
Presented by Heartland Investor Capital Management Inc. CTA
Corn:
WASDE cut U.S. corn ending stocks by 75 million bushels to 1.365 billion, much more than expected
Market outlook targets July corn pushing into the $5.00–$5.50 range, weather permitting
Spain recently purchased 240,000 MT of U.S. corn; export demand remains supportive
Technical wave counts suggest a bullish summer rally with peaks possible in early June
Soybeans:
Slight drop in U.S. soybean ending stocks to 375 million bushels due to improved crush
Beans moved higher into the USDA report, testing the 200-day moving average
If Friday closes above $10.24, it would be the first Friday close above the 100-day MA, signaling potential upside
Global demand (especially from Europe) shifting to U.S. beans amid competitive pricing
Wheat:
U.S. wheat ending stocks rose by 37 million bushels to 846 million, bearish for prices
Chicago wheat held relatively firm; Kansas City wheat saw an outside day down
Weather outlooks mixed: GFS suggests late April rain for dry Plains; Euro model drier
Ukraine and parts of Russia remain dry into April 21, keeping global wheat outlook uncertain
U.S. Dollar:
Dollar index down nearly 10% since January highs, recently dropped 2% this week alone
Weak dollar softens export headwinds, effectively offsetting global tariff burdens
A bounce is expected, but trend remains bearish amid interest rate cut expectations (3–5 cuts possible this year)
Weather Outlook:
6–10 day forecasts show moisture in the Plains, while 11–15 day GFS models suggest better chances for rainfall
Euro model drier, especially for Kansas, Colorado, and Nebraska
Weather will be critical for sustaining corn rally and determining wheat yield potential
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.