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" The task of the leader is to get his people
from where they are to where they have not been. "
- Henry A. Kissinger
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Commentary |
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Today's noon radio report is my commentary. Click the link below.
Market talk link here
US Dollar Daily Chart
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Corn |
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Corn held our 763-764 support on report day, but the outright commodity selling today was too much. The July 4th gap may become the harvest target before the next Bull Run kicks in. This gap is on the continuation chart is 720-730 if things get really ugly. Bottom line, we are within 20-30 cents of a end-user stealing opportunity.
Contintion Corn Daily Chart
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Beans |
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Soybeans are close to entering the box. That is the area between the 25% and 38% retracement of the major up move. The "1600" value should be very supportive. The break today caused caused by China doing what they have done several times over the last 5 years. Say they are selling reserves. It is just cleaning out all the bug and rodent infested supplies.
Nov Bean Daily Chart
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Wheat
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910-920 looks like it is going to be retested.The last week of September has a high correlation for a rally historicaly. If the "900" area holds, look for a rallyom next week into October.
Minneapolis Dec Wheat Daily Chart
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Live Cattle and Feeder Cattle |
As has been true to form for months now, the cash market is a waiting game, all the players holding their poker hands close to the vest until late in the week when somebody eventually calls. It has been a dog-eat-dog world between packers and feedlots. Packer margins are slipping deeper into the red (-$39 per head). Of the three players (producer, packer, feedlot)...one of them will lose money until retailers relent and beef cutouts (now 192.50) get over and stay over $200. That, in our opinion, is inevitable. When the pastures green up, all three players will make money, and the consumer will be the loser of the game.
October Live Cattle Daily Chart
Feeder Cattle Daily Chart
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Gold
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We warned that the FED was not saying what the market kept saying they would do. And that is inflate. A profit taking correction can go to 1725-1735 for new buying.
December Gold Intra-Day Chart
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Crude |
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The trend in oil is up, 94.00-94.50 is defining that trend for support. 100.00-102.00 was our upside target. That has been hit. Look for choppiness now until hostilities in the Middle East become eminent.
November Crude Oil Daily Chart
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09-10-12
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NOTE: With the exception of livestock, all trades will be entered in the electronic markets unless otherwise noted. Hedge recommendations and Trade recommendations are totally separate, and may sometimes conflict with one another. It is strongly suggested that Spec trades and Hedge trades be done in separate accounts.
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A word to the Wise
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.
Newsletter 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.
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Copyright © 2012 Heartland Investor Capital Management All rights reserved |
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