Stocks & Small Grains Fallout
Presented by Heartland Investor Capital Management Inc. CTA
Corn:
USDA raised old crop carryout by 195 million bushels
Corn surprisingly held support despite bearish numbers
Technical setups point toward potential head and shoulders bottom near 407
Recovery above 50-day moving average would be bullish signal
Soybeans:
Old crop stocks slightly reduced but ignored by trade
Selling pressure dominated as China absent from buying
Technical targets near 985–980 before possible reversal higher
Seasonal vegetable oil demand could support wave three rally later
Wheat:
USDA lifted all wheat production to 1.985 billion bushels
Spring wheat and winter wheat both higher, white wheat down slightly
Carryout remains burdensome above 2.1 billion bushels
Seasonal bias warns against being short past September 30
Cattle:
Live cattle weaker, feeders stronger with outside-day rally
Wave structures suggest potential B-wave bounce toward 238
Feeder cattle strength could trigger X wave toward 270
Volatility remains extreme with $9 daily ranges
Crude Oil:
Completed ABC retracement after bounce near $66
Now trending lower as OPEC considers supply increases
Seasonally weak into October–December
Wave three decline likely before longer-term rebound
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.