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"It is said a picture can paint a thousand words.
But a kind word creates a day a thousand pictures cannot capture."
- Ravi Zacharias
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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 is going on sale, not what this market needs, but markets are not fair, they are equitable. It will pay for allowing end-users a chance to buy it cheaper by going even higher then it needed to. Major support is at 763-764.
Dec Corn Daily Chart
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Beans |
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On the last update I put out I said beans "this leg up should have trouble with the 1790-1810 value in front of harvest." The actual high was 1789 before dropping away. 1700-1710 needs to hold or this market gets ugly for a week.
Nov Bean Intra-day Chart
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Wheat
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Smaller Canadian stocks, on-going weather issues in Australia, and a weaker US dollar are potential events that can break wheat from the strangle hold of corn. The latets I have seen the up seasonal kick in for wheat prices is the last week of September. That is a very reliable up week for wheat. Australia's wheat crop, which has reached the development stage, is facing a crucial test in September, with every day of continued dry weather hurting it. Western Australia has received some rain recently but not enough to alleviate the drought afflicting parts of the state. 910-920 looks like it is going to be retested.
Minniapolis Dec Wheat Daily Chart
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Live Cattle and Feeder Cattle |
Cash cattle traded 124-125 last week, and basically in the 190 area on a dressed basis. Choice beef is 191+, select 181+, and packer margins have now dipped into the red at $7.00 per head. The National Weather Service is anticipating an El Nino will begin to form this month. On the heels of Hurricane Isaac, this suggests that the drought could be nearing an end. When the pastures to green up and herd expansion begins, supplies will get very tight and historical highs are most likely in front of us. Don't get complacent if and when those highs occur....nothing lasts forever. That's why they're called the futures markets.
October Live Cattle Daily Chart
Feeder Cattle Daily Chart
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Gold
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I have been saying "to not listen to the FED, but do watch what gold is telling us". I said the breakout was real and the FED will inflate. Last Friday's jobs number is a disaster. With no leadership in the Washington, the FED has no choice.....print money. Look for gold to be a buy in the 1715-1720 area and another new high yet. In the big picture I have said many times, "Gold goes up September till February and down in March until August." What has changed....nothing?
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 is the upside target.
October 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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