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Funds bought far fewer soybean futures than expected in the week ended Feb. 22, 2022, according to trade estimates.
Most-active soybeans then came within 30 cents of their 2012 record high before selling off nearly 10% from the prior day's high on Feb. 25.
Fund positioning shifts amplified the volatility after Russia's invasion of Ukraine, and the sharp reversal shows the war premium was unwinding quickly. Traders should expect continued swings as geopolitical risk is priced in and out.
reuters.comKaren BraunFeb 27, 2022Not 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.
