Corrections Across The Board
Presented by Heartland Investor Capital Management Inc. CTA
Corn
Firm despite retreat, holding above last week’s close
Support seen at 418 to 422
Technical charts suggest continued strength and possible higher trade tomorrow
Soybeans
Two-day correction after Monday’s rally
Support near 1028 to 1030 with strong buying interest expected
Still viewed as constructive despite pullbacks
Wheat
Correcting but holding key support near 523
Seasonals turn positive after this week
Potential for another upside push next week
China Demand
Delaying U.S. bean purchases as tactic
Expected to buy in December or January due to South American supply limits
Market awaiting trade news
Weather and Yields
US Drought Monitor shows worsening conditions in southern Illinois, Indiana, Ohio
Yield losses emerging in stressed areas
Northern regions faring better
Cattle
Extreme volatility with wide daily ranges
Closed on highs today after sharp sell-offs
Potential X wave rally toward resistance 235–240 in live cattle and 354 in feeders
Cattle on Feed report tomorrow could drive next move
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.