Counter-Seasonal Rally In Wheat?
Presented by Heartland Investor Capital Management Inc. CTA
Trump Tariff Ruling and Market Reaction:
The court ruled Trump's tariffs unworkable, but he’s appealing and may use emergency powers to maintain them
Grain markets opened higher on the news but faded throughout the day
Wheat showed strength into the close, supporting prior V-bottom rally setup
Wheat Market Technicals:
Wheat’s V-bottom pattern gaining traction with potential for a rally into early June
December Chicago wheat showing inverse head and shoulders with resistance near 580–585
Kansas City wheat also forming a head and shoulders pattern, needs close above 550 for breakout
Minneapolis wheat holding prior support, targeting 645–650 for sales opportunity
Weather concerns including disease risk and rain in Kansas aiding wheat strength
Soybeans:
Soybeans broke below but closed above 200-day moving average
ABC correction pattern still plausible, but November beans struggling
Friday close needed above current levels to maintain bullish bias
Heavy sales from Brazil putting pressure on prices
Corn:
Corn fell below 200-day moving average due to Argentine and Brazilian exports
Recovery possible if futures can close above 455
If not, market may head lower toward 417–420 range in C wave correction
Overall action remains choppy with ABC patterns dominating
Cattle:
Feeder cattle recovered to $300 after two down days
Live cattle firming, August futures back to 210 with cash trade steady at 221–222
Short-term rally targets 213–214 range before potential downturn
Trendlines and historical black swan lows remain in focus
Feeder Cattle:
Possibly forming an ABC rally toward 304 before turning lower again
Gap from Monday's action remains unfilled; watching for Friday confirmation
Black swan events continue to guide major trend reversals
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.