WASDE Fallout
Presented by Heartland Investor Capital Management Inc. CTA
Corn:
USDA surprised with a 17 billion bushel crop and carryout near 2.2 billion
Prices testing critical 410 support on March
Below 410 risks deeper technical damage
Consolidation likely until February USDA outlook forum
Second quarter weather and South American risk remain key
Soybeans:
March beans testing 1031 to 1038 support zone
Weekly close below 1043 to 1044 opens risk toward 970
South America still mixed with southern Argentina dryness
Near term momentum remains fragile
Wheat:
Winter wheat dormancy limits immediate weather risk
Kansas and Midwest dryness noted but premature
Chicago wheat holding support near 5.00
Trend remains weak but downside momentum slowing
Cattle:
Live cattle making new yearly highs
Select beef now valued above choice due to heavy weights
Major resistance at 238 to 240
Strong support near 228 to 231
LRP hedging and put strategies recommended
Feeder Cattle:
Resistance developing near 365
Potential to write 375 to 380 calls on rallies
Market vulnerable to consolidation after strong run
Crude Oil:
Crude pushing higher on geopolitical risk
Iran supply fears supporting prices
Key resistance near 62
Sales near resistance could support lower diesel prices this spring
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.