Grains Report
25 April 2022
Weekly Corn Continuous Close
This chart has taken many a player to the cleaners.
I still favour more upside on a weekly close, but I am starting to feel the market overplay its hand and hence I would look to exit all long positions and say thank you for the wonderful rally.
On the flipside I am dying to short this market as not a single human actually knows where value is, but as the saying goes “today’s high could be tomorrows low” and it is with this in mind that I have zero conviction to pick a top.
240 Min May22 Corn Candle Chart Close
The 240 min charts support has held well and now I have to believe that any move lower from current levels is a buying opportunity.
If the chart rallies from here or $0.15 lower the upside targets will be over the $9.00 level.
Weekly WM Continuous Close
Even though the chart has traded R4400, although I feel its high, there is ZERO technical reason to sell this chart.
But if you are a producer and you are reading this, now if your chance to price, use strength in these markets to price
Weekly YM Continuous Close
The techs looks really good and I cannot find a reason to be short this chart.
We could easily see the price rally from here.
If you are a producer and you are reading this, now is your chance to price, use the strength in these markets to price.
Don’t be shy as we need to export urgently!
Weekly KC Wheat Continuous Close
#No Change in commentary.
The correction could be well and truly over and we will now monitor the formation over the week before looking at getting long.
Our bias is now to the long side.
Weekly Chicago SRW Wheat Continuous
#No Change in commentary.
The correction could be well and truly over and we will now monitor the formation over the week before looking at getting long.
Our bias is now to the long side.
Weekly Close KC Wheat v Chicago SRW Continuous Close
I want to get long this chart, but will need to wait for a pullback.
The chart REMAINS highly overbought on a weekly basis.
Weekly SAF Wheat Continuous Close
#No Change in commentary.
This chart much like US wheat seems to done with its correction and we will be looking at getting long under R6900. – unfortunately there was very little opportunity
Daily Matif Wheat Continuous Close
This chart’s correction is over and I am expecting new highs!