Argentine Rain's in Focus
Presented by Heartland Investor Capital Management Inc. CTA
Soybean Market:
Rain in Argentina and southern Brazil triggered a 50-cent market pullback after recent 70-cent gains.
Key support lies at $10.16; failure risks further declines.
Reduced U.S. soybean acres could tighten domestic carryouts below 300 million bushels, driving potential June-July weather-driven rallies.
Corn Market:
Possible wave four correction after $4.79 highs, with potential to drop to $4.62-$4.63 before rebounding.
Safrinha crop delays in Brazil increase market risk, as planting must finish by March 1.
Majority of inventory sold, but aiming for $5 sales on rebounds.
Cattle Market:
Live cattle broke sharply, possibly reacting to Mexican feeder cattle imports resuming next week.
Wave three high may lead to a wave four pullback before rebounding in February-April.
Support expected at $260-$262, with potential highs later this year near $275-$286.
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.