CJS Securities

Grains Report

20 September 2021

Weekly Corn Continuous Close

How disappointing that on this chart pretty much nothing has changed week on week.

The chart remains in a corrective phase with very little movement over the last 2 weeks.   

The correction will only break with a weekly close over $6.42.

I would only consider the Bull story to be over should we have a Weekly close under $4.56.

Until then, all the deep dips REMAIN buying opportunities.

The rallies remain selling opportunities (profit taking only) and the dips remain buying opportunities (getting long)!

I REMAIN really bullish in the “big picture” but, we could easily see this market come off after trying to print $5.70, so in short you may well have the chance to get long sub $5.00!

240 Min December 21 Corn Candle Chart Close

This correction is taking longer to complete than Quade Cooper waits to take a penalty.

I still like this chart for a rally towards the $5.60 level.

The downside dips remain buying opportunities potentially as low as $4.70.

I REMAIN a proponent of BTD’s and take cash on the rallies until we confirm a bull market over $6.00!.

 

Weekly WM Continuous Close

After sounding like a broken record on BTD’s and congratulations to those who did, I would look at taking some cash off the table and making room to buy another dip as the market could look to pullback some within the next week.

However, all the dips remain buying opportunities and R2800 (DEC21) will be on the very low side should we get there with R2700 looking like the bottom of the range on the spot month.

The upside move has not confirmed yet, but currently I feel like MT low is in!

 

Weekly YM Continuous Close

Congratulations to all who BTD, even though the chart went a little lower  than my technical comfort level.

All the pullbacks remains buying opportunities.

Once the correction is over (the correction is not yet over) the chart will be looking to break out to the upside by R500 or more and make new MT highs.  

Weekly KC Wheat Continuous Close

#No Change in commentary

The pullback is over, this chart is a buy!

We are long and waiting to make some green (hope we don’t go home broke). 

 

Weekly Chicago SRW Wheat Continuous

#No Change in commentary

The pullback is over, this chart is a buy!

We are long and waiting to make some green (hope we don’t go home broke). 

 

Daily Close KC Wheat v Chicago SRW Continuous Close

#No Change in commentary

The chart looks well headed to $0.15 in the coming weeks.

All I can say that I would take a sneaky punt on the chart, but definitely not basket balls and all.  

Weekly SAF Wheat Continuous Close

 I did not expect the squeeze in nearby wheat to be this violent and that the rally over R6000 would come this quick, but alas it has and now all we can do is sit back and allow Sep 21 to go off the board. 

Daily Matif Wheat Continuous Close

This chart looks decent and we are looking to buy scale down to €235.00 as I feel the correction is over with targets over €295.00.