Cattle Top & Counter Seasonal Wheat Rally

Presented by Heartland Investor Capital Management Inc. CTA

Wheat:
 Futures rallied double digits on concerns over Kansas disease-related light test weights
Dry weather in France and Eastern Europe impacting wheat’s reproductive phase
December wheat nearing neckline breakout with upside potential to $6
Kansas City and Minneapolis wheat also pressing resistance zones

Live Cattle:
 Rumors of resumed Mexican feeder cattle imports triggered market correction
USDA reportedly trying to ease tight U.S. feeder cattle supply
August futures broke trendline support, confirming wave five top and entering ABC correction
Possible C wave could push prices below $200 if unhedged positions aren't protected
Cash trade remains strong, but the board is disconnecting from fundamentals

Feeder Cattle:
 Also topped; wave pattern suggests drop to previous wave four support
Upside potential capped by plugged gap and Mexican import developments
Key levels near 288 could be tested again in correction

Corn:
 Holding support despite energy and soybean oil strength
Funds heavily short; short covering in wheat may spill into corn
Old crop liquidation and basis contract deliveries ongoing
Possible July bounce could offer pricing opportunity

Soybeans:
 Soybean oil strength driving bean rally; Brazil supplies remain tight
Board at year’s highs; potential retracement targets for oil near 57-62%
Fourth wave breakout implies possible targets of 1110-1120 for Nov beans
Higher crude may extend gains but could limit biodiesel profitability at extremes

Crude Oil:
 Surged to $77, breaking trendline resistance
Middle East risk could push prices even higher
Sustained rally supportive to ethanol and biodiesel, despite soybean oil nearing choke points

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.