Another Outside-Day Down in Cattle
Presented by Heartland Investor Capital Management Inc. CTA
Wheat:
Ukraine hit the Kerch Bridge again, trying to disrupt key Russian wheat flow.
Wheat bounced 15 cents but faded later in the session.
Dec Chicago wheat shows inverse head and shoulders setup.
Rust and disease in Southern Plains threaten major yield loss.
Kansas wheat tested resistance but failed to break through.
Corn:
Corn bounced slightly after Monday’s sharp selloff.
Week 3–4 forecast shows warm and dry shift in Midwest.
Trend still lower; eight-day streak of lower highs remains.
September corn calls suggested as cheap weather hedge.
Soybeans:
July beans fell through 50-day, weak bounce to $10.50.
Nov beans rejected at major moving averages.
Sell bounce if undersold; wave 5 lower likely.
Cattle:
August cattle reversed on Cargill plant closure rumors.
Outside day down posted at 78% retracement level.
Cash may drop $20 to meet futures by late June.
Feeders reversed near 305; downside target near 288.
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.