WASDE Overview & Grain Prospects

Presented by Heartland Investor Capital Management Inc. CTA

Corn:
 Old crop ending stocks declined to 1.43 billion bushels.
Potential for further reduction to 1.365 billion if adjustments reflect last year's crop.

Soybeans:
 Decreased acreage for new crop, increased old crop exports.
Tightening stocks could push prices higher with weather concerns in July-August.

Wheat:
 New crop stocks unexpectedly dropped to 1.8 billion bushels.
Market impact from disease concerns in Kansas hard red winter wheat.

Weather Outlook:
 Dry conditions in the Western Corn Belt raise concerns for June.
Rain expected in North Dakota, uncertainty in Nebraska and South Dakota.

Market Analysis:
 Corn and soybeans poised for potential rallies.
Wheat faces challenges with higher than expected stocks.

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.