Is This the Final Nail in Wheat's Bear Market?
Presented by Heartland Investor Capital Management Inc. CTA
Wheat:
Russian farmers withholding supply, pressuring short positions and helping firm global prices.
US winter wheat harvest ~75% complete, easing forced sales and turning focus to stored bushels.
Outside day up in December wheat signals technical strength with support at 555–560.
Spring wheat crop remains green; recent rain may narrow spreads with winter wheat.
French milling wheat also advancing, bottomed in June and grinding higher.
Corn:
Market down for third straight week, despite 74% G/E rating (best since 2016/2018).
Condition scores being used to justify 185–191 bpa talk, but pollination issues persist.
Real yield picture likely delayed until October WASDE; some signals may appear in September.
December corn could retest $4.00 or even $3.60s if yield ideas hold.
July 14 outside day up could be a key swing low, but seasonal pressure typically continues into early August.
Soybeans:
Wave 1 rally appears complete; now correcting in Wave 2 with downside into $10.06–10.08 range.
Seasonal tendency for weakness until August 4, with potential bounce thereafter.
Trendline support near $9.88 if market slips further.
Chinese demand rumors or trade developments could spark a reversal.
Cattle:
New contract highs in both live and feeder cattle, supported by firm cash trade.
Live cattle projection targets $234.50; feeder cattle may stretch toward $337.00 if golden ratio plays out.
Market appears in final stages of major impulse wave; watch for signs of topping as targets approach.
Crude Oil:
Holding June low and rebounding in possible ABC correction.
Targeting $71–72.25 zone before resuming larger bearish Wave 3.
Seasonal factors, including hurricane risk, may support prices short-term before fall weakness emerges.
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.