WASDE Preview & More
Presented by Heartland Investor Capital Management Inc. CTA
WASDE Supply Demand Report Expectations:
Carryout expected to be lowered, possibly to 1.3 billion bushels by September
USDA underestimating exports; 240,000 metric tons to Spain supports corn
Exports strong despite tariff concerns; USDA may need to reduce by 35 million bushels
Argentine corn production could be lowered 1 MMT; Brazil likely unchanged
Global corn stocks down 1 MMT; soybean stocks up nearly 1 MMT; wheat likely revised higher
Wheat Market Analysis:
Mid-April rains possible in eastern Kansas, but key wheat areas remain dry
Ukraine and southern Russia wheat regions still missing moisture
KC wheat capped by 20-day moving average; resistance at 570–580
Chicago wheat stuck under resistance; 520–552 target remains
Tight global supply means even minor yield shifts could spark a move
Corn Market Developments:
Back above 200-day moving average; support now at 462
Bullish wave count in play; potential breakout with weather or export drivers
Spain corn purchase boosts confidence in export strength
Wave structure could target significant retracement rally
Soybean Market Trends:
Still in bearish wave count; working on 5th wave of wave 3
Resistance near 1008; support around 955 based on multi-year levels
Potential rally later from acreage shortfall and planting season dynamics
Short-term weakness likely before spring strength emerges
Cattle Market Overview:
Live cattle must hold 193 to keep bullish structure intact
Break below 190–189 risks confirming long-term market top
Export/tariff issues and consumer shift away from beef pressuring demand
Feeder cattle bounced at key support; potential for 5th wave rally into fall
August contracts expected to lead with seasonal strength
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.