CJS Securities

Oilseeds Report

02 November 2021

Weekly CBOT Soybean Continuous Close

We have 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 as we printed $11.84.

240 Min CBOT November 21 Soybean Candle Chart

I don’t like this formation and although it can trade higher this chart needs and should see another leg lower.

My view is to take cash off the table over $12.40 and keep BTFD’s.

This view is valid as untill we have a move and close over $13.08 the bull market is not yet confirmed. 

Board Crush Continuous Daily Close

This chart is wild and although its now taking a breather, its going to take out the highs in the coming weeks.

We might look to get involved but the set up would have to be perfect and we are happy to sit out for now. 

Oil Share Continuous Daily Close

This chart can make a new high and in all likelihood will make a new high as long as the price stays above 47% ,so for those that are long please keep your stops tight. 

Weekly SAF Soy Continuous Close

#No Change in Commentary. 

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

This chart has now printed R11 000 on multiple occasions and all I can say is that one should not be in this market right now.    

If you are long you could be overplaying your hand.  

Weekly CBOT Soy Oil Continuous Close

#No Change in Commentary. (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

We are long and we are hoping, which is a terrible feeling.

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!