Can Wheat Rally?

Presented by Heartland Investor Capital Management Inc. CTA

Corn:
Lower on planting progress (12%) and 96 million acre talk triggering two-day correction
Market near Wave 4 low around 479–480; rebound likely post-options expiry Friday
Focus remains on old crop demand and stocks rather than acreage expansion

Soybeans:
Higher on U.S.–China tariff talk optimism from Treasury Secretary Bessette
Holding above 100-day moving average; push above 1055 July could trigger broader rally
Exponential average cleared, but still battling simple 200-day resistance

Wheat:
Softer on Kansas rain forecasts; market pricing in moisture that hasn’t fallen yet
China wheat region extremely dry last 30 days with no rain through May 2
Ukraine dry through May 2; Russian wheat region remains largely dry except far south
Chicago wheat forming potential inverse head-and-shoulders pattern; neckline break above 569–570 key
Kansas City wheat remains in slow uptrend with frequent “pop and drop” action
Spring wheat pressing long-term resistance; dry Northern Plains could fuel breakout by June

Cattle:
Live cattle showing Wave 1 of new rally after strong recovery
Carcass weights at 950 lbs; boxed beef capped around 330–340
Wave pattern suggests potential summer rally path into October–December contracts

Feeder Cattle:
August continuation chart created gap; failed at 292 resistance
Higher corn post-options could pressure feeders; 1000+ lb steers cooling off in cash trade
Short-term pullback possible before continuation of broader uptrend

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.