The Elephant In the Markets
Presented by Heartland Investor Capital Management Inc. CTA
Corn:
Big crop potential remains the focus with yields estimated at 184 to 189
Support held at four dollars with a small bounce into the close
Weakening dollar driving new demand interest especially out of Asia
European corn crops in Ukraine France and Germany are under weather stress
USDA export forecast may be too conservative heading into fall
Soybeans:
Brazilian real strength slowing farmer selling tightening global bean flow
US basis now undercutting Argentina and Brazil at the Gulf
Wave count shows potential ABC bottom with upside target near 1120
India GMO corn for ethanol use could unlock major new trade
Currency dynamics support continued export strength despite lack of China activity
Wheat:
May 13 low may have marked seasonal bottom ahead of July 15 window
Inverted head and shoulders pattern forming in Chicago wheat
Kansas City wheat never broke key lows showing stronger chart setup
Harvest rapidly progressing as rains taper across the Plains
Resistance comes in near 578 to 580 on a bounce
US Dollar:
Dollar breaking technically across daily weekly and monthly charts
Chart projections suggest a fall to the mid 90s tied to prior export strength
Weaker dollar counteracts tariff and trade tension headlines
Falling dollar lifts US grain competitiveness globally
Historically dollar trends persist through October and November once established
Cattle:
US reopens Mexican feeder cattle flow starting July 7 expanding through September
Feeder cattle may have posted B wave high near 311 now turning lower
Support seen near 303 with deeper downside targets at 292 to 295
July 31 USDA report could confirm or refute heifer retention speculation
Market likely to stabilize post report setting up for fall 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.