Loading…
Speculative funds have been buying grain and oilseed futures after holding large net-short positions earlier in the year. UK feed wheat and Paris rapeseed rose, supported by weather concerns in Russia and flooding in southern Brazil.
Fund short-covering amplifies weather-driven rallies in wheat, corn, soybeans and rapeseed, and the position shift may add to upward price pressure.
mainsitelive.azurewebsites.netMay 21, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not 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.
Speculative funds buying after large net-short positions amplified the rally through short covering.
Speculative funds covering large net-short positions in grain futures amid weather worries is a sentiment and positioning mechanism that can fuel sharp corn rallies like the 2.86% move.
