CJS Securities

Grains Report

08 November 2021

Weekly Corn Continuous Close

There is no change in the below commentary and all I can say is that I am happy we are out as there are potentially a few different outcomes.

“This corn chart has traded beautifully and has now printed its targets.

I would look to take profit on my longs and give the chart a few days to play out as I will only consider the correction over on a weekly close over $5.95.

We are very happy to be square until we have more confidence in our view and until then I am happy to live by the saying that one is only as good as your last trade.  

I REMAIN really bullish in the “big picture” but, we could easily see this market come off and look to trade back sub $5.30 and even $4.80.

240 Min December 21 Corn Candle Chart Close

We are short at $5.82, fingers crossed, as the below commentary has not changed.

“Sell at best and all the way up to $5.94 with a stop over $5.96.

The downside targets will be sub $5.30 and hence this trade will have a 7/1 risk reward.

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 trust you took some risk off the table after last Monday’s report.

We would look to start buying back sub R3250.

The big pullbacks are still decent buying opportunities. 

 

Weekly YM Continuous Close

I trust you took some risk off the table after last Monday’s report.

“I would look to take some profits into strength as a pullback will be hard and fast and we would like the ability to buy back.” – I hope you all took some cash off the table.  

Now is the time to look to buy back those shorts.

Weekly KC Wheat Continuous Close

I hope you have all taken the money, as this chart can still rally but right now it’s late at night.  

We are now very happy to sit back and wait until the next opportunity comes our way!

Weekly Chicago SRW Wheat Continuous

I hope you have all taken the money, as this chart can still rally but right now it’s late at night.  

We are now very happy to sit back and wait until the next opportunity comes our way!

Daily Close KC Wheat v Chicago SRW Continuous Close

This chart has topped out for the MT and traded just short of its targets at $0.28.

We are happy to sit back for a few weeks.

Weekly SAF Wheat Continuous Close

 I hope you have all taken the money, as this chart has the potential to continue to come off and potentially trade sub R5200.  

We are now very happy to sit back and wait until the next opportunity comes our way!

Daily Matif Wheat Continuous Close

We are happy to sit back and allow this chart to develop over the coming weeks.