Cattle Stumble
Presented by Heartland Investor Capital Management Inc. CTA
Corn
Quietly improving structure as soybeans lead
No technical damage yet and watching for follow through strength
Weather not currently a bearish driver
Soybeans
27 cent range and near unchanged close after China headline break
Trend intact and consolidation ongoing
Target zone 1196 to 1205 still in play
Flash sale to China could quickly extend rally
About 20 percent old crop still being marketed
Soybean Oil
Strong uptrend tied to biofuel blending expectations
White House policy supportive longer term
63 cent objective gaining credibility
Major pillar behind 12 dollar bean thesis
Soybean Meal
Consolidating as oil takes leadership
330 to 335 key resistance zone
Larger degree wave structure constructive into spring
Chicago Wheat
Held together despite heavy rain forecasts
Commercial demand and miller bids supportive
Another push toward highs possible into early March
Kansas City Wheat
Tested 38 percent retracement and bounced
Holding 200 day moving average constructive
Watching 60 day cycle window next week
Weather Outlook
Significant rain forecast for Missouri through mid March
Oklahoma moisture helpful after fires
Eastern Colorado and Wyoming still relatively dry
Heavy totals may cause runoff concerns in drought areas
Feeder Cattle
Break below 20 day moving average confirmed resistance
Nearly limit down before bounce
363 key resistance on recovery
Failure opens path toward 345
Live Cattle
Broke 32 day moving average and tested 235
233 near 75 day moving average critical
Head and shoulders risk building
Longer term liquida
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.