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Money managers cut their net short in CBOT corn futures and options to 17,703 contracts as of October 29, down nearly 54,000 contracts in a week. This was their least bearish position since early August 2023.
Heavy fund short covering removes some bearish pressure from corn, but the shift reflects positioning rather than a change in fundamentals, so price support may be limited.
reuters.comKaren BraunNov 4, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
