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Money managers were net sellers of corn and held a net short of 280,151 contracts, their most bearish corn view since June 2020. Most-active CBOT corn had hit its lowest since December 2020 on January 30, and the funds' soybean view was their most bearish since 2019.
Heavy fund short positioning signals that prices are under selling pressure, and a sharp shift in positions could cause a short-covering rally.
reuters.comFeb 5, 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.
Funds held a large net short in corn (most bearish since 2020), indicating heavy speculative selling pressure that can amplify a sharp one-day drop.
