First Of The Month Turns
Presented by Heartland Investor Capital Management Inc. CTA
🌽 Corn
We tested the 100-day moving average and closed higher.
Open interest has dropped sharply without triggering a major liquidation.
We think the October 9 crop report could quickly change the USDA story.
We still see a path toward substantially higher prices.
🌱 Soybeans
We held support around the first trading day of October.
The market never developed the aggressive downside we were protecting against.
We bought our spec position back and see potential for a multi-day bounce.
🌾 Wheat
Chicago wheat reclaimed the 79-day exponential moving average.
French milling wheat is approaching its yearly highs.
We think European strength could eventually lend support to U.S. wheat.
🐂 Cattle
December cattle continue working higher with the 100-day moving average near 224.50 next.
We remain focused on the 227 area, with 230 potentially becoming resistance.
November feeders cleared the 333 area and still have upside potential toward 338–344.
🥈 Silver
We are watching for a pullback toward the 58.50 area.
That could set up another spec opportunity using the 100-ounce contract.
We continue looking for a possible year-end rally.
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.