CJS Securities

Grains Report

23 November 2021

Weekly Corn Continuous Close

I cannot change too much of the below commentary as I have to stick to my levels now.

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

So much for sticking to my levels.

I will bail on this position, albeit slightly in the money (lucky me), because I am starting to see the last leg as consolidation, so I now have low conviction.

“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

This chart looks great, and there is no reason it cannot continue to rally from current levels; hence, I say BTD’s.

“We would look to start buying back sub R3250.’ – we hope you picked up some stock as this is from 2 weeks ago.  

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

 

Weekly YM Continuous Close

This chart is headed to its targets, and well done to those who believed in BTD’s.

There are zero reasons to pick a top on this chart and do not get caught short over the next week, but instead wait to buy.  

Weekly KC Wheat Continuous Close

Congratulations to the Pigs who stayed long!!!!!

At this point, we could easily see this chart rally another $0.80 before coming off, and although we have missed the last part of this rally, we are now pleased to sit back and wait until the next opportunity comes our way!

 

Weekly Chicago SRW Wheat Continuous

Congratulations to the Pigs who stayed long!!!!!

At this point, we could easily see this chart rally another $0.80 before coming off, and although we have missed the last part of this rally, we are now pleased to sit back and wait until the next opportunity comes our way!

 

Daily Close KC Wheat v Chicago SRW Continuous Close

This chart now appears to want to target the  $0.30 level.

We are happy to sit back for a few weeks longer before getting involved. 

Weekly SAF Wheat Continuous Close

 This chart has traded R200 higher than its original targets and could likely go even further, but even so, 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  as this is not the place to get involved.

The oscillator can keep going!