A Tale of Two Cities
Presented by Heartland Investor Capital Management Inc. CTA
Corn broke below a major multi-year support zone.
Trade is increasingly expecting June 30 acreage to remain near 95.5 million acres.
A technical breakdown projects downside toward 423-424 if support fails.
Soybeans:
Soybeans continue to hold key support near the 200-day moving average.
China tariff reductions or additional purchases remain the primary bullish catalyst.
Initial resistance is seen near 1170-1175 on the November contract.
Wheat:
Seasonal harvest pressure continues to weigh heavily on wheat markets.
European wheat regions remain hot and dry, threatening production in France, Germany, and Poland.
Kansas City and Minneapolis wheat are testing major support levels ahead of a potential early July seasonal low.
Cattle:
Live cattle stalled near the 250 level but cash markets remain supportive.
June futures are expected to continue converging toward strong cash prices into expiration.
Feeder cattle remain in an aging bull market with major resistance near 380.
Weather Outlook:
France, Germany, and Poland remain locked in a damaging pattern of heat and dryness.
European wheat and corn crops face increasing stress during critical development stages.
The U.S. weather pattern remains largely favorable for corn and soybean development.
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.