Cattle Blew A Gasket
Presented by Heartland Investor Capital Management Inc. CTA
Corn:
Stability returned after USDA’s 188.8 bpa yield and 97.2 million acres estimate
End-user buying interest supported prices near Tuesday’s lows
Global corn stocks-to-use ratio at 9 percent could tighten further if Brazil or Ukraine face export issues
Soybeans:
Prices peaked near resistance at 1049.25 before selling off
Potential yield concerns due to excessive rain affecting crop health
Carryout could tighten sharply if yields drop by one bushel per acre
Wheat:
French milling wheat and Kansas City wheat attempting to form a base
Support aligning with pre-Ukraine invasion price levels
Truce in Ukraine unlikely to significantly increase exports beyond current pace
Cattle:
Sharp downside move with possible double top forming
Wave C decline possible if prices close under key support near 339
Brazil’s new export tax credit could pressure U.S. cattle market further
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.