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Funds reduced their net short in CBOT soybean futures and options to a nine-week low of 154,096 contracts. CBOT November soybeans rose more than 2% through Sept.
3 after a mid-August low.
Fund short covering reflects shifting positioning rather than a new supply change, so it adds modest support to soybean and corn prices.
reuters.comKaren BraunSep 9, 2024Not enough comparable past events yet for a historical read.
Not 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.
