rounded corner
rounded corner
top border

Morning Corn Update


Bookmark and Share

Today is a very key day after yesterdays bullish crop progress reports

Last night corn was not able to take out last week highs and soybeans only made a new high by 2 1/2 cents before both faltering. First of the month highs couldve occurred as the reality of production losses is now becoming widely known, as it even made national news last night at 5:30.

What is being missed and why corn is stalling out at the 450 multi-year resistance, is that we are also losing massive amounts of demand on this rally as well. Production losses are likely 1.5 billion or higher, but just before the low was made in May, there was consideration that the USDA was going to lower the export side on corn again by 100 Mil Bu.. and that was when corn was at 350 Imagine what 450 corn is going to do to demand.

Corn at 450 over the last several years represents a carry out of over a billion bushels and with a US dollar in its present strength area. Demand has probably been slashed by 300 to 500 Mil Bu, as South American corn crops are being increased in size. Exports look to be aggressive out of there.

Bottom line is todays close is going to determine if 450 is it for the time being while we walk through a June 12 crop report next week. Plantings will advance rapidly this week. And the first correction in this fast rising market is now probably going to continue for a while with a close over 455 Dec corn and 925 November beans required to start another leg up. Look for consolidation. We have made new crop sales into this present rally.

Click here to sign up and see my entire newsletter every day plus more videos, speculative trade and hedging alerts for free for 2 weeks.

***Links may not work when viewing this article on barchart.com. Please copy and paste this link below into your web browser to access the free trial sign up portal.***

https://ppweb.thrivecart.com/heartland-advantage-package-no-cc/


NOTE: 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.

A word to the Wise

This material has been prepared by a sales or trading employee or agent of Heartland Investor Capital and is, or is in the nature of, a solicitation. This material is not a research report prepared by Heartland Investor Capital Research Department. By accepting this communication, you agree that you are an experienced user of the futures markets, capable of making independent trading decisions, and agree that you are not, and will not, rely solely on this communication in making trading decisions.

DISTRIBUTION IN SOME JURISDICTIONS MAY BE PROHIBITED OR RESTRICTED BY LAW. PERSONS IN POSSESSION OF THIS COMMUNICATION INDIRECTLY SHOULD INFORM THEMSELVES ABOUT AND OBSERVE ANY SUCH PROHIBITION OR RESTRICTIONS. TO THE EXTENT THAT YOU HAVE RECEIVED THIS COMMUNICATION INDIRECTLY AND SOLICITATIONS ARE PROHIBITED IN YOUR JURISDICTION WITHOUT REGISTRATION, THE MARKET COMMENTARY IN THIS

COMMUNICATION SHOULD NOT BE CONSIDERED A SOLICITATION.

The risk of loss in trading futures and/or options is substantial and each investor and/or trader

must consider whether this is a suitable investment. Past performance, whether actual or

indicated by simulated historical tests of strategies, is not indicative of future results. Trading

advice is based on information taken from trades and statistical services and other sources that Heartland Investor Capital believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades.

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.

Copyright 2018 Heartland Investor Capital Management All rights reserved



Recent articles from this author



About the author


Eugene Graner is the founder and President of Heartland Investor Capital Management Inc. As a veteran commodity analyst, broker, and CTA that eats, sleeps, and breathes commodity futures, his priority is to bring clients the latest and most useful information of the markets along with uncannily accurate futures predictions. By balancing risk and reward, Eugene uses his proprietary trading strategies to develop the best possible trading approaches for his clients. He has 28 years of experience in the industry and his voice has been heard around the United States. He is heard on multiple radio stations throughout the day, also has been featured on CNN, Bloomberg, Wall Street Journal, and The New York Times, and is the go-to guy to for multiple TV network stations for interviews about market news weekly.
 
Contributing author since 1/3/2019 

Published by Barchart
Home  •  Charts & Quotes  •  Commentary  •  Authors  •  Education  •  Broker Search  •  Trading Tools  •  Help  •  Contact  •  Advertise With Us  •  Commodities
Markets: Currencies  •   Energies  •   Financials  •   Grains  •   Indices  •   Meats  •   Metals  •   Softs

The information contained on InsideFutures.com is believed to be accurate but is not guaranteed. Market data is furnished on an exchange delayed basis by Barchart.com. Data transmission or omissions shall not be made the basis for any claim, demand or cause for action. No information on the site, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any futures or options contracts. InsideFutures.com is not a broker, nor does it have an affiliation with any broker.


Copyright ©2005-2019 InsideFutures.com, a Barchart.com product. All rights reserved.

About Us  •   Sitemap  •   Terms of Use  •   Privacy Policy