Oilseeds Report
06 June 2022
Weekly CBOT Soybean Continuous Close
The chart’s failure to capitulate has me starting to wonder, along with the formation, if it’s not experiencing a “running correction”, should this be the case we will be in a for a good few weeks of high volatility, followed by a serious rally that should print $20.00 and higher.
I feel its difficult being long this chart up here and hence why I am happy to be square, but going short is not an option!
240 Min CBOT July 22 Soybean Candle Chart
As with the weekly chart I am wondering based on the detailed 240 min formation if it’s not experiencing a “running correction”, should this be the case we will be in a for a good few weeks of high volatility, followed by a serious rally that should print $20.00 and higher.
I feel it’s difficult being long this chart up here and hence why I am happy to be square, but going short is not an option!
Board Crush Continuous Daily Close
I am not normally a bottom picker, but sometimes the opportunity is just too great to pass up. – we are long at $0.88 and looking at taking profit at $1.05.
This is one of those times and I will buy this chart at best and scale down to $0.85. – nice one so far!
Oil Share Continuous Daily Close
We have missed our buying opportunity, but for those that are long I am expecting new highs!
Weekly SAF Soy Continuous Close
#No Change in Commentary
There remains no reason to sell this chart but a pullback appears to be well on the cards. – as we are currently experiencing.
We are waiting for buying opportunities R400 – R600 lower.
Weekly SAF Suns Continuous Close
#No Change in Commentary
Technically I am now waiting to sell a rally R300 – R600 higher!
R11 400 – R11 700 in the July 2022 contract.
Weekly CBOT Soy Oil Continuous Close
Although I would allow the market to play out for a good few weeks, the current formation is pointing to new highs.
We are however, very happy to wait after making a massive profit being long and are now looking at playing the market from the short side.
Patience is a virtue!
Weekly CBOT SBM Continuous Close
This
chart is wild and I would stay out for at least another 2 weeks while allowing
the chart to play out.