Interesting Post WASDE Action
Presented by Heartland Investor Capital Management Inc. CTA
Corn:
Old crop briefly dropped below new crop prices under algorithmic pressure
Market retesting lower targets; possible ABC correction into the 420 zone
December corn held trendline support; watching 440 level for potential bounce
Global demand prospects remain with potential buyers like Japan, Vietnam, and Mexico
Soybeans:
Strong finish after early volatility; soybean oil surged on policy support
New Senate bill supports U.S./Canada/Mexico-only feedstocks for biofuel credits
Weekly chart breakout holds; targeting $11–$11.92 for new crop
Strategy includes short-dated puts for risk-managed upside exposure
Wheat:
Chicago wheat avoided overnight lows, hinting at stability
KC wheat bounced near $5, historic support level
European and Black Sea dryness plus Chinese drought could shift sentiment
Seasonal window suggests potential counter-seasonal rally despite usual May–July weakness
Spring wheat may follow hard and soft wheat if support holds
Weather Outlook:
Germany and northern France remain dry through May 23
Ukraine and southern Russia receive limited moisture; frost risks in Ukraine and Poland
China’s wheat belt remains hot and dry with no relief in sight
Cattle:
Markets paused after Monday’s gap higher
Open gaps may signal measuring moves or exhaustion—direction depends on this week’s follow-through
Wave 3 targets up to 218.5 possible if gaps hold
Feeder cattle following similar pattern, with 311 target in play
Crude Oil:
Elliott Wave analysis suggests possible larger corrective move forming
Bounce toward $70 possible if $64 holds
Market watching China trade developments and potential demand recovery
$51 double bottom could mark a major low if current support structure holds
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.