Grains Report
28 March 2022
Weekly Corn Continuous Close
As a whole this chart needs a decent correction after a rally of epic proportion. – looks like so far we are correcting after failing to make new highs.
I am looking for this chart to pull back to around the $6.72 level in the coming weeks.
This is in no way a bear market, but rather a correction in a greater bull market.
240 Min May22 Corn Candle Chart Close
The 240 min chart indicates a correction for now and I fancy downside targets of between $7.16 -$7.05.
I would be very wary of all these markets as a peace deal even if only a short term deal, will lead to a sentiment change. – They are meeting again on Wednesday!
Weekly WM Continuous Close
On a global level our maize market is super strong.
I can’t find a reason to be short this chart with only the top of the channel providing some resistance.
I have no strong views other than to urge producers to price as anything can happen.
Weekly YM Continuous Close
On a global level our maize market is super strong.
Close to ATH’s I cannot find a reason to sell this chart at all or pick tops.
I have no strong views other than to urge producers to price as anything can happen.
Weekly KC Wheat Continuous Close
#No Change in Commentary
Wheat has been the wildest of rides and the market now appears to be well into its corrective phase.
Stay out until further notice.
Weekly Chicago SRW Wheat Continuous
#No Change in Commentary
Wheat has been the wildest of rides and the market now appears to be well into its corrective phase.
Stay out until further notice.
Weekly Close KC Wheat v Chicago SRW Continuous Close
I have changed the timeline to Weekly and as it stands this chart could still trade higher, but the pullback will be wild.
Weekly SAF Wheat Continuous Close
#No Change in Commentary
Much like its US counter part, SAF wheat is in a corrective phase. – The correction could be over, but I don’t have the constitution to buy it here!
I will be patiently watching to see how this plays out over the next few weeks before looking to get in.
Daily Matif Wheat Continuous Close
Based on the current
formation the chart seems to have another leg higher, but I do not have the
gumption to buy it here!