It's Become Real
Presented by Heartland Investor Capital Management Inc. CTA
Wheat
Kansas City wheat pushes to new multi year highs as drought stress worsens across western Kansas and eastern Colorado.
Crop conditions deteriorating with wheat already heading, limiting benefit from any early May rains.
Northern Kansas showing severe damage with short crop and freeze impact, pointing toward reduced production near 250 million bushels or lower.
Breakout from major resistance suggests upside toward 7.00 to 7.10 if poor ratings continue.
Corn
Corn finding support from strength in wheat and tightening spreads.
Market watching potential China buying ahead of mid May visit along with concerns over Brazil safrinha crop dryness.
Seasonal tendencies support a potential rally into May highs.
Soybeans
Beans pulling back after outside day lower but showing signs of stabilization.
Previous patterns suggest limited downside with potential for renewed upside momentum.
China demand expectations remain supportive as trade negotiations approach.
Cattle
Live cattle testing key moving average support near short term trend levels.
Feeder cattle holding trendline support with potential for outside day reversal higher.
Market watching for confirmation of renewed strength.
Crude Oil
Crude oil rebounding after holding support near 80 dollars.
Market targeting move back toward 103 resistance level by end of week.
Strength providing underlying support to soybean oil and broader grain complex.
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.