Wheat/ Cattle/ Oil Observations
Presented by Heartland Investor Capital Management Inc. CTA
Corn
Market dipped after testing 62%-78% retracement levels.
3-wave structure suggests potential for higher prices on third-day reversal.
July contract could reach $5.05-$5.10.
Farmer selling picked up ahead of fieldwork.
Soybeans
Two-day pullback after strong 65-cent rally.
Holding above 100-day moving average; strength could resume.
Soybean oil bullish due to China’s used cooking oil import halt.
Watch $48.68 and $49.50 levels for upside triggers.
Wheat
Wheat stalled at 100-day moving average resistance.
HRW areas in CO/KS still mostly dry; rain outlooks mixed.
Russia/Ukraine/Baltics remain warm and dry—possible bullish catalyst.
Massive short position may fuel sharp rally if weather worsens.
Weather Outlook
Midwest/Delta wet conditions causing planting delays.
Moisture outlook reduced for western Kansas and eastern Colorado.
Dry spell continues in Black Sea region through April 25.
Cattle
Live cattle bouncing in wave B after outside-day reversal last week.
Resistance target near 202-204 before C-wave pullback.
Feeder cattle nearing wave 5 peak around 284, potential pullback ahead.
Crude Oil
Rebounded from $55 low in wave 4; targeting $65.50 area.
Further downside in wave 5 may reach low $50s.
Potential Trump SPR refill in future seen as market trigger.
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.