CJS Securities

Grains Report

29 November 2021

Weekly Corn Continuous Close

Ok, I am about to change my whole view, although it remains bullish!

$5.95 remains a massive level to close above, but as of now, I feel we could be going into a complex correction that has upside targets from $6.30 – $7.35.

So I remain bullish, but I am not sure that this will be the start of the next “bull” phase, however I do see $20 + move higher within the next couple of weeks, so BTD’s down to $5.65!

240 Min March 22 Corn Candle Chart Close

Ok, so here we have a new chart (Mar 2022) and a new MT view.

Firstly, we are happy we took a small profit on the Dec short, but now the time has come to go long!

I would buy at best and all the way down to Friday’s low with upside targets set at $6.18 -$6.31 which would give one around a $20.00 profit!

 

Weekly WM Continuous Close

The below view is still in place but I would advise putting in a stop profit should we have a daily close under R3400 on the Mar 2022 contract.

“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

The below view is still in place but I would advise putting in a stop profit should we have a daily close under R3610 on the Mar 2022 contract.

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

#No Change in commentary

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

#No Change in commentary

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

The below view has played out even better than imagined, but we are still keen to stay out.

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 could go even higher, 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 MT top is in!