Will Russia and Ukraine Get Worse
Presented by Heartland Investor Capital Management Inc. CTA
Corn
Price Resistance: December corn faces resistance at $4.30, with likely buying interest around $4.25-4.26.
Technical Support: March corn encounters 64-day moving average resistance, with support a penny or two below current close.
Seasonal Patterns: Exports typically support corn prices through April; U.S. exports dominate with limited South American competition.
Wheat
Geopolitical Impact: Wheat rallies as Russia’s munitions stocks dwindle; potential double bottom forming.
Price Targets: March Chicago wheat resistance at $6.56-$6.70; longer-term resistance near $6.80.
Trend Outlook: Likely to trend upward into early 2024, with potential spikes during U.S. fieldwork disruptions.
Soybeans
Support Levels: Key support in the $9.65-$9.67 range; sustained pressure could lead to further declines.
Geopolitical Factors: South American rain benefits crops, while U.S. exports face recent sales lulls.
Technical Analysis: Recent rallies signal mixed signals, with continued monitoring of retracement levels and export momentum.
Cattle
Cattle on Feed Report: February cattle approaches downtrend resistance; placements and marketing up year-over-year.
Feeder Cattle Strength: Feeder cattle break resistance, targeting $2.65-$2.69, with continued support from feedlot demand.
Crude Oil
Support and Resistance: Current support around $72 per barrel; potential rally influenced by geopolitical risk.
Overall Trend: Oil remains in a downtrend, with near-term rallies limited by technical resistance and market sentiment.
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.