Understanding The Black Sea Risk
Presented by Heartland Investor Capital Management Inc. CTA
Wheat
Black Sea tensions continue to escalate.
Ukraine is targeting Russian export infrastructure.
Kerch Strait shipping remains at risk.
French wheat closed near record highs.
Technical charts point toward additional upside.
Corn & Soybeans
Discussion centered primarily on wheat today.
Global grain trade remains sensitive to export disruptions.
No major change to the broader corn or soybean outlook.
Weather remains an important secondary influence.
Black Sea
Russia exports roughly one-third of its wheat through the Sea of Azov.
Kerch Bridge remains a strategic bottleneck.
Deep-water ports cannot easily absorb displaced shipments.
Diesel shortages also complicate Russian logistics.
Export disruptions could tighten world wheat supplies.
Cattle
Live cattle broke important technical support.
Feeder cattle continue forming a bearish head-and-shoulders pattern.
Major trendline support is now being tested.
Failure below support could trigger a larger correction.
Long-term bull trend remains intact unless trendlines fail.
Provided by:
Eugene Graner,
Heartland Investor Capitol Management, Inc., CTA
(A separate entity from Heartland Investor Services)
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