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Big speculators sold grain contracts again, adding 57,250 contracts to bearish ag bets, with a record net short in corn and widest 10-month net short in soybeans. Funds also extended net shorts in soybean oil and soft red winter wheat, while hard red winter wheat bucked the trend.
Heavy fund short positions pressure futures lower, which cheapens feed grain and oilseed meal inputs. Short-covering could trigger sharp rebounds when positions are unwound.
farmprogress.comBryce KnorrApr 26, 2019Not 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.
Fund net shorts in SRW wheat extended, indicating bearish speculative positioning and selling pressure heading into April 29.
Speculators extended a record net short in corn through April 26, so continued fund liquidation pressure plausibly carried into the April 29 selloff.
