Grains Report
10 May 2022
Weekly Corn Continuous Close
We are now officially within the pullback range, and I would look to get long at current levels down to $0.30 lower.
I remain bullish in the greater scheme of things and am now happy to buy a pullback and hoping its goes lower before the weekend.
240 Min July 22 Corn Candle Chart Close
This chart has now traded $0.10 lower than its downside target and now currently only has two outcomes:
# 1 – this chart extents down to $7.50 before looking to rally again.
# 2- it rallies from here and is a widening triangle that tops and tails blokes until they have no ammo left.
I would buy a dip as the upside targets will be over the $9.00 level.
Weekly WM Continuous Close
#No Change in Commentary
There remains ZERO technical reason to sell this chart, but its could easily experience a R250 downside correction.
If you are a producer and you are reading this, now is your chance to price. – starting to sound like a broken watch
Weekly YM Continuous Close
#No Change in Commentary
The techs looks really good and I cannot find a reason to be short this chart even tough it could pullback R250 from here quite easily.
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. – starting to sound like a broken watch
Weekly KC Wheat Continuous Close
After a really good rally over the last week, I would now take profits and go square!
Weekly Chicago SRW Wheat Continuous
I am bullish this chart and would take profit $0.40 higher!
Weekly Close KC Wheat v Chicago SRW Continuous Close
I want to buy this chart at $0.60!
The chart REMAINS highly overbought on a weekly basis
Weekly SAF Wheat Continuous Close
#No Change in Commentary
This chart has had a great rally and although we missed our buy levels, for those that are long, this may not be a bad time to take some risk off the table.
Daily Matif Wheat Continuous Close
After a massive rally
take the cash as the ST top might well be in!