Can't Keep A Good Man Down
Presented by Heartland Investor Capital Management Inc. CTA
Wheat
Crop conditions showed a slight improvement in good to excellent ratings, but deterioration in poor categories continues across key Plains states
Weather forecasts for eastern Colorado and western Kansas pressured prices early before late-session recovery
Market held key retracement levels, suggesting the broader uptrend remains intact with potential for another leg higher into mid May
Corn
Prices tested and briefly exceeded key resistance above five dollars before pulling back
Fast planting pace continues to pressure sentiment despite uneven emergence and early crop stress concerns
Market structure remains supportive with upside targets still intact near 510
Soybeans
Failed to extend breakout after strong prior session and closed weak
Price action driven largely by intermarket spreads with wheat and corn
Short term pullback likely corrective with potential for quick rebound
Cattle
Live cattle resumed higher trend after brief pullback, confirming strong bull market structure
Feeder cattle showing breakout behavior with resistance near 375 to 376 becoming key pivot
Upside targets remain in upper 380s to near 395 on continuation strength
Crude Oil
Market remains technically supported above key moving averages on six hour chart
Geopolitical tensions and Strait of Hormuz risks continue to underpin prices
Potential move toward 115 to 116 if disruptions persist and supply tightens
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.