Up, Up and Away
Presented by Heartland Investor Capital Management Inc. CTA
Corn
Grain trade mostly higher; corn soft with smaller acreage, 94 million acres at 183 bpa.
New crop carryout expected lower; Chinese buying potential in March-April may drive rallies.
May contract breaking new highs for the year; potential sales near 472, upside to 480 possible.
USDA notes 10% of crop damaged; old crop corn may surprise on upside.
Soybeans
Soybeans supported by soybean oil strength; May contract approaching highs from November.
Wave analysis suggests continuation toward 1170-1180, potential push to $12 if China buying materializes.
Old crop sales ongoing; new crop near highs, potential 1140-1150 measured move.
Wheat
May Kansas City and Chicago contracts breaking out of recent channels.
Concerns over Black Sea, cold weather with no snow cover driving rallies.
Potential old crop sales near top of breakout; July and September new crop opportunities forming.
Chart retracements: KC 592 range, Chicago slightly lower, weekly continuation target 6362-9563 area.
Cattle
Fed cattle: new continuation high, approaching 244-245 challenge; potential double top at 248.
Feeder cattle: non-event, inside day, left shoulder head right shoulder pattern developing.
Weekly charts show bullish continuation; cattle on feed report standard: 98% on feed, 96.5% placements, 87% marketing.
Crude Oil
Prices push higher toward 66.5; geopolitical risks in Iran and Strait of Hormuz driving volatility.
Upside targets: 70-72; supply risks remain, Saudi intervention possible but limited.
End-of-year purchases completed; market remains sensitive to global disruptions.
USDA/Weather Notes
Corn acreage down 3.8M, beans up 3.8M, wheat 45M acres; final intentions due March 31.
Weather risks: Oklahoma, Kansas, Texas; cold with little snow cover impacting wheat.
USDA under review after multiple adjustments; market reacting cautiously to numbers.
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.