CJS Securities

Grains Report

13 December 2021

Weekly Corn Continuous Close

Good morning.

This will be our last report of 2021.

Merry Xmas and blessings to you and yours, I will see you in 2022.

There REMAINS very little to add to the below view other than I would fade into a rally from $6.10 – $6.25 for profit taking and further fade into a move to $6.50 getting short.   

$5.95 remains a massive level to close above, but 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 a $20 or $0.50 move higher within the next couple of weeks, so BTD’s down to $5.65!

240 Min March 22 Corn Candle Chart Close

I REMAIN very uncertain of the ST view on this chart.

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! – You should all be long now!

The above view will only be negated under $5.55.

 

Weekly WM Continuous Close

Onward and upward!

A rally over R3650 would trigger me to take profits!

“We would look to start buying back sub R3250.’ – we hope you picked up some stock as this is from 3 weeks ago.  

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

 

Weekly YM Continuous Close

PLEASE take profit once we get near the target area and DO NOT get married to the long position. – we are nearly there!!!!

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

Although wheat has a bullish story, the chart can stuff around and take all your money before rallying again.

At this stage we are super happy to hang back and allow this chart to play out. 

 

Weekly Chicago SRW Wheat Continuous

Although wheat has a bullish story, the chart can stuff around and take all your money before rallying again.

At this stage we are super happy to hang back and allow this chart to play out. 

 

Daily Close KC Wheat v Chicago SRW Continuous Close

My current bias is to look for a selling opportunity as I feel the next big move will be lower.

I will sell at best all the way up with a stop over the high! 

Weekly SAF Wheat Continuous Close

#No change in the commentary.

After a significant drop, the chart has recovered nicely

However this does not mean we are keen buyers and in fact should we see a rally toward the previous highs I would be looking to get short.  

Daily Matif Wheat Continuous Close

#No change in the commentary.

I would sell this chart at €293 – €312 size as this correction is far from over!