First Notice Day Washout
Presented by Heartland Investor Capital Management Inc. CTA
Corn
Market fell sharply despite 120,000 MT sale to Spain.
Planting progress near 25% pressured old crop premiums.
Safrinha crop receiving moisture, further dampening old crop urgency.
December corn nearing 78% retracement; support near $4.60.
Summer rally now hinges on heat/dryness threats to yield.
Soybeans
110,000 MT export to unknown destination provided brief support.
July contract tested, then closed above 200-day MA.
Soybean oil weak, meal firmed, stabilizing crush margins.
$11.00 target remains possible with catalyst (e.g., Japan trade deal).
November beans failed at 200-day MA again after Friday spike.
Wheat
Russia and Belarus frost threats largely ignored by trade.
Chicago wheat made new contract lows, stuck in channel.
US wheat now cheapest globally; sales to North Africa, SE Asia expected.
Trade watching post–first notice day for direction.
Cattle
Feeder and live cattle surged; $300 feeder cattle in sight.
Mexico feeder spat resolved; June live cattle eyeing $212–213.
Seasonal shift ahead may temper highs as hamburger demand rises.
Wave count suggests near-term peak possible, driven by headlines.
Crude Oil
Outside day down led to further losses; likely wave 5 of 3.
Potential target in low $50s if momentum continues.
Bearish drivers include rising output, slower Chinese economy, and OPEC loosening.
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.