CJS Securities

Grains Report

15 November 2021

Weekly Corn Continuous Close

I am not convinced this is the start of a “new bull” market as the short time frames keep me wondering.

I will only consider the correction over once we have a weekly close over $5.95.

We are pleased to be square until we have more confidence in our view.  

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

I have to stick to my guns and the below trade, and based on the chart currently, I am not sold on this being the start of the “new bull” market, but luckily for me, I happen to know where I am wrong.

“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

Today we saw an explosion in the price vs. the rest of the market

We would look to start buying back sub R3250. – we hope you picked up some stock.

“The big pullbacks are still decent buying opportunities.” – I cannot stress this enough!

 

Weekly YM Continuous Close

 

The chart looks very decent, and we remain proponents of BTD’s

“Now is the time to look to buy back those shorts.” – This has aged well. 

Weekly KC Wheat Continuous Close

New highs and for those that have been piggish, well done as I lacked the big brass ones to stay long, never the less decent profits were made by all.

This chart still has upside based on the oscillator being nowhere overbought.

Good luck to the longs, and always remember pigs generally get slaughtered.  

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

 

Weekly Chicago SRW Wheat Continuous

New highs and for those that have been piggish, well done as I lacked the big brass ones to stay long, never the less decent profits were made by all.

This chart still has upside based on the oscillator being nowhere overbought.

Good luck to the longs, and always remember pigs generally get slaughtered.  

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 am very unsure what I am now looking at, especially after the Sep 21 squeeze.   

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.

Keep your eye on the potential divergence developing!