Preview Of The Heartland Wheat Tour
Presented by Heartland Investor Capital Management Inc. CTA
Wheat
Kansas City wheat leads gains as drought worsens across western Kansas and eastern Colorado
Crop ratings at 34 percent good to excellent with expectations for further declines
Little meaningful rain in near term forecasts with only uncertain extended outlook moisture
Technical structure suggests wave three higher with potential pullback before another leg up
Seven dollar target remains in play if dryness persists
Corn
Corn tests key retracement resistance near 462 on July contract
Holding major support levels with potential to build another upward leg
Export demand remains solid with continued uncertainty around China buying
Seasonal strength window in April and May supports recovery attempts
Chicago Wheat
Chicago wheat pulled higher by Kansas City strength despite favorable Midwest conditions
Soft red winter wheat areas remain in good shape with excess moisture
Resistance near 650 expected to be a selling opportunity
Minneapolis Wheat
Minneapolis wheat following broader wheat complex higher
Spring wheat pricing opportunities expected near upper 680 range
Market direction remains tied to Plains drought developments
Live Cattle
Market testing key short term support near 248
Must close above last week to avoid confirming a weekly top
Failure to rally could trigger correction toward 241 level
Momentum beginning to show signs of slowing
Feeder Cattle
Pulled back after contract highs with fund pressure evident
Support held near 368 but market needs recovery above 371
Failure to rebound risks deeper correction toward mid 350s
Momentum shift possible if weekly close is weak
Weather Outlook
Drought intensifying in key hard red winter wheat regions
Midwest remains excessively wet with planting delays not yet critical
Extended forecasts hint at rain but confidence remains low
Market highly sensitive to forecast changes
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.