CJS Securities

Oilseeds Report

18 October 2021

Weekly CBOT Soybean Continuous Close

Although I think this chart should come lower, we have now printed sub $12.00 and IMO the MT low is in, along with the 89 week EMA holding solidly.

In short the correction could well be over but we would need a $1.00 rally and Weekly Close over $13.02 to get me really excited.  

One should use the volatility to play the ranges with a bias to building a decent long sub $12.00! I hope many of you played ball sub $12.00.

My new downside target is sub $12.00 and potentially $11.70, this would be a massive MT buying opportunity to say the least. – we printed $11.84.

240 Min CBOT November 21 Soybean Candle Chart

Now that the downside has played out, I trust you are long and only look to cut should we make a new low, but based on the charts current formation we are going north!

I would look to take some cash off the table over $12.40 and keep BTFD’s until a new low is made, because until we have a move and close over $13.08 the bull market is not yet confirmed.

On a technical basis these are the set ups we crave and if we are correct we should be able to extract some serious value out of this chart. 

Board Crush Continuous Daily Close

#NO Change in Commentary

This chart can take you to the cleaners and return your dirty!

I would stay out until further notice.

The price action now feels binary!  

Oil Share Continuous Daily Close

For all of those that cashed out last week, congratulations.

For those looking to be piggish, I feel the chart can make a new high, but PLEASE remember the following when it comes to the market and that is “most pigs get slaughtered.” 

Weekly SAF Soy Continuous Close

#No Change in Commentary. (although nothing new to report, we know that no news or “steady as she goes”)

The chart is coming off beautifully and, with a bit of luck, could still trade as low as R6700.00.

Irrespective of the market moving, one should use weakness to price, daily!

Weekly SAF Suns Continuous Close

If anyone is still short Dec 21 SFS, I have no sympathy for you.

This market is now binary and could trade as high as R11 000 – R12 000.  

If you are long, enjoy it but you should be taking profits daily. 

Weekly CBOT Soy Oil Continuous Close

#No Change in Commentary. (although nothing new to report, we know that no news is really good news for the BULLS or “steady as she goes”)

I am super bullish and starting to wonder if the energy / power issues in China will transpire as the trigger for the below number to play out?

I feel the correction is done, (I feel good about this one) and all the pullbacks from here are buying opportunities with upside targets between $0.85 -$0.89!

I almost feel that we don’t have enough cash to get as long as we should, buy at best and scale down, this is budget making stuff with sprinkling of retirement!!!!  

Weekly CBOT SBM Continuous Close

I have snapped out of my Stockholm syndrome.

This chart will kick sooner or later, but its Fugly and could still print as low as $288, but we are long and burning worse than a California wild fire, but feel a move sub $290 will be an opportunity to buy more!