Cattle In Trouble
Presented by Heartland Investor Capital Management Inc. CTA
Soybeans
Soybeans holding bullish structure after bouncing off support with potential Wave 4 consolidation forming.
Market watching possible ABC corrective move before another upside push.
Soybean oil leading the rally as prices push into key monthly retracement zone.
Biofuel policy expectations including renewable volume obligations and refinery exemptions supporting sentiment.
New crop soybeans still showing potential to challenge the $12 level.
Corn
Corn surged Sunday night with a Wave 3 style breakout before consolidating.
Resistance remains well defined near the 460 level on the nearby contract.
Strong ethanol demand highlighted by record weekly crush and declining ethanol stocks.
Potential pullback toward the 440 area could serve as strong support before another push higher.
Fertilizer availability and upcoming acreage expectations remain key drivers for potential moves toward the upper $4 range.
Wheat
Kansas City wheat following a similar corrective pattern after Sunday night strength.
Possible short term pullback before another upward push toward the mid $6 range.
Monthly chart suggests relatively easy path toward prices near $7 if geopolitical risks escalate.
Ongoing Russia and Ukraine conflict keeps underlying risk premium in the wheat market.
Crude Oil
Crude oil trading mostly sideways after recent volatility.
Energy markets still influencing grain sentiment but currently consolidating.
Livestock
Live cattle markets showing increasing technical and fundamental weakness.
Cash cattle prices slipping with dressed values dropping sharply in northern markets.
Boxed beef prices rising but packers capturing most of the margin rather than feedlots.
Feeder cattle markets beginning to soften as technical patterns suggest a developing head and shoulders structure.
Next downside targets for feeder cattle seen near the 327 to 330 region.
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.