What Will WASDE Have To Say?
Presented by Heartland Investor Capital Management Inc. CTA
Corn:
Reversed off lows, broke below $4 but rallied near highs on 3.16 MMT exports vs 2.0 expected
WASDE yield guesses average 184.1 bpa; key resistance at 410–416
Crop faces sun shortages despite rain, limiting upside
Soybeans:
Old crop sales beat estimates at 468,000 MT; new crop also strong at 545,000 MT
Stocks falling due to export pace; wave count suggests bounce to $10.14 possible
Wheat:
Export sales nearly double expectations at 738,000 MT
Prices bounced from key support after hitting new lows; seasonal bottom potential in August
Cattle:
Live and feeder cattle counts show parabolic moves, targets near 235 and 355 respectively
Brazilian beef tariffs pinch supply, pushing prices higher amid herd restocking
Hogs:
October hogs in a bullish setup after holding support; buy on short pullbacks with stops below 88
Crude Oil:
Failed bounce; breaking down below key trendline
Expect further slide to low $50s by winter
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.