CJS Securities

Grains Report

04 October 2021

Weekly Corn Continuous Close

Wonderful news, we have movement!

The great formation remains a correction but we are now headed higher.

The upside targets are between $5.70 – $5.80 on the Z21 contract.

Please note that I do not feel the correction is over until we have a weekly close over $6.42,  while I would only consider the Bull story to be over should we have a Weekly close under $4.56.

Until then trade the ranges, use the market volatility to build your confidence and don’t get married to a view as regret is a rough sheet to sleep on!

I REMAIN really bullish in the “big picture” but, we could easily see this market come off after trying to print $5.70, so in short you may well have the chance to get long sub $5.00!

240 Min December 21 Corn Candle Chart Close

I like this chart to still trade higher and print $5.70 – $5.80, but based on the current formation I would be highly surprised to see it hold those levels, in fact should we push up toward these levels I would consider selling with a stop over $5.95 as the downside target would be sub $5.00.  

In the BIGGER picture the dips remain buying opportunities potentially as low as $4.70.

I REMAIN a proponent of BTD’s and take cash on the rallies until we confirm a bull market over $6.00!.

 

Weekly WM Continuous Close

I cannot change any of the below commentary.

The chart looks great and the dips are still buying opportunities.

I would however take some risk off the table the higher we go as a pullback will be hard and fast and we do not want to be caught flat footed.

Even after the current rally off the low, the upside move has not confirmed but currently I feel like MT low is in!

 

Weekly YM Continuous Close

The chart looks great and the dips remain buying opportunities.

Congratulations to all who BTD, even though the chart went a little lower  than my technical comfort level.

All the pullbacks remains buying opportunities.

Once the correction is over, the correction is not over yet but its close, the chart will be looking to break out to the upside by R500 or more and make new MT highs.  

Weekly KC Wheat Continuous Close

There is ZERO reason to sell this chart or take profit, as the digital asset boys say, “HOLD”!

The chart looks great and it’s a buy!

The pullback is over and we are long and waiting to make some green (hope we don’t go home broke). 

Weekly Chicago SRW Wheat Continuous

There is ZERO reason to sell this chart or take profit, as the digital asset boys say, “HOLD”!

The pullback is over, the chart looks great!

We are long and waiting to make some green (hope we don’t go home broke). 

 

Daily Close KC Wheat v Chicago SRW Continuous Close

I am now keen to hang back for a week or two as this chart could be looking at consolidating before going higher.

I will happily ring the bell should we look to get in again. 

Weekly SAF Wheat Continuous Close

 Although this chart is distorted post the Sep 21 futures close out, I can still easily see the price rally R400 off its currently level.

I would look to buy the chart into weakness, down to R5350.

Daily Matif Wheat Continuous Close

The below view is playing out better than a Fast and Furious sequel and I could not be happier!

This chart looks decent and we are looking to buy scale down to €235.00 as I feel the correction is over with targets over €295.00.

If this chart has a daily close at or just under €257.00 we will most certainly go square as a failure at those level could see a €50.00 drop in prices.