Oilseeds Report
21 February 2022
Weekly CBOT Soybean Continuous Close
The weekly close has hardly changed, and all I can say is that if Uncle Vlad provides you the opportunity to sell some of your long at a higher level, use it!
The chart remains bullish, but looking at where the weekly close and where the oscillator is I would advise taking profits for those that are long, because when the music stops playing and believe me it will, you don’t want to be the one without a chair!
If you have not thought about shipping in some puts, the time has come.
Please do not get married to your long position, it will only end in a bitter divorce.
240 Min CBOT January 22 Soybean Candle Chart
I wouldn’t say I like this chart, and I cannot advocate buying up here invasion or no invasion.
I have no strong view other than I would love to buy a deep pullback.
Board Crush Continuous Daily Close
The volatility on this chart remains rough.
We are happy to sit out a week or three.
The oscillator remains near oversold levels.
Oil Share Continuous Daily Close
#No Change in Commentary = winning!
We have not been stopped on the below view but will put in a stop under 40% as this chart is now highly overbought!
“After kicking off extremely oversold levels and making a new MT low, the chart remains at oversold levels and another leg lower to 42% will get me long. – lets see how this plays out.”
Weekly SAF Soy Continuous Close
#No Change in Commentary
Now is the time to sit back and wait for the next opportunity as its not every day that you will make R500 + on a trade.
Weekly SAF Suns Continuous Close
This
chart is not a true reflection of the Suns market, and come closer to harvest
it will likely print R8000.
Weekly CBOT Soy Oil Continuous Close
The below has not changed, and we are riding this one into the sunset as we are winning!
I seem to have this wrong and although we are long, this chart is now grossly oversold on a weekly basis and we need to dig deep and buy more scale down with a stop under $0.52 as the rally is coming, even if its only a kick!
I feel the correction is done (it had another leg lower), and all the pullbacks from here are buying opportunities with upside targets between $0.85 -$0.89! – the correction was obviously not done.
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!!!! – hope we don’t go broke before retiring.
Weekly CBOT SBM Continuous Close
Nothing has changed on the weekly chart, but we are happy to stay out until further notice.
With the oscillator being where it is, I would be a very nervous short around current levels.