Prospects of a Cattle Top and Corn Bottom
Presented by Heartland Investor Capital Management Inc. CTA
Corn
Corn held late-session gains after Monday’s outside day up
Sugar import restrictions lifted sugar prices, slightly boosting HFCS demand
Failed to hold above the 420 resistance mark
Technicals show support near 408, with possible downside to 385
Farmer selling likely paused due to insurance, loss aversion, and uncertain demand
Seasonals turn negative late July into August
Trade deal chatter could shift sentiment quickly
Soybeans
November beans reversed from 1014 resistance back toward weekly lows
Wave count suggests potential bottom near 990–997
Could initiate wave 3 rally with support from improved demand or trade talks
August weather remains key — heat and storms may impact yield
Still targeting 1120 on extended rally potential
Wheat
Wheat slid to lows with French ag ministry raising crop size
Chicago wheat shoulder-head-shoulder pattern not yet broken on closes
French milling wheat must reclaim 205 to regain momentum
Seasonal lows often occur late July into early August
Still risk of breaking down to 520 range if 656 support fails
Live Cattle
August contract posted new high close above Friday
No topping action visible — bullish wave structure intact
Cash trade near 232 with boxed beef recovering
Target remains 234–235 if momentum holds
Volatility hasn't derailed trend continuation yet
Feeder Cattle
Inside days today with no technical damage
Volatility last week failed to trigger sustained weakness
Still tracking higher with potential for 335–340 upside
Charts support ongoing wave five rally
No confirmation of a top at current levels
Crude Oil
Stalled at 38% retracement of the last major break
Pullback nearing moving average support
DOE report tomorrow could spark another move higher
Wave count suggests possible new rally before year-end reversal
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.