# Ag Markets September 14, 2020 — Peak Trading Research

> Peak Trading Research says funds hold about 530k contracts net long, the largest since February 2017, with canola and soybeans flagged as extremely overbought. It also notes September is seasonally weak for the soy complex.

- Date: 2020-09-14 · published 2020-09-14T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/9340-ag-markets-september-14-2020-peak-trading-research
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Heavy speculative length and seasonal weakness raise downside risk for soybeans, meal and oil even as lower production prospects and Chinese demand provide support.

## Read by commodity

- SBM: bearish ▼
- SBO: bearish ▼
- SOY: bearish ▼
- CANMEAL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SOY | 2020-09-14 | 1 | -2.7% | -3.9 | Funds held their largest net long since 2017 with soybeans flagged as extremely overbought and September seasonally weak, which sets up a liquidation-driven selloff. |
| SBO | 2020-09-23 | 5 | -8.1% | -3.0 | Record fund net long positioning and overbought conditions in soybeans raised liquidation risk, which helps explain the sharp profit-taking selloff. |

## Sources

- peaktradingresearch.com: https://peaktradingresearch.com/ag-markets-this-week/2020/9/14/ag-markets-september-14-2020

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.