PDF attached
CFTC COT
It is safe to say the trade for the last several weeks has missed predicting how much the longs have gone long. “Traditional” fund positions for corn have hit another record for futures only and futures and options combined. Managed money positions have a short stint to make new records, but this is a reminder they have room for the upside, and with open interest at a high level, higher prices can be achieved if the manage money plow another round of long positions in the markets.
SUPPLEMENTAL Non-Comm Indexes Comm
Net Chg Net Chg Net Chg
Corn 435,357 39,740 399,292 -9,786 -808,165 -10,952
Soybeans 158,524 -6,692 159,369 -6,813 -320,896 10,921
Soyoil 69,029 -22,897 123,201 289 -213,755 20,178
CBOT wheat -6,511 -4,778 137,518 503 -118,635 2,903
KCBT wheat 34,493 1,682 70,391 -2,569 -106,938 -1,016
=================================================================================
FUTURES + OPTS Managed Swaps Producer
Net Chg Net Chg Net Chg
Corn 374,714 24,826 243,283 -4,611 -774,381 -13,327
Soybeans 166,485 -9,342 70,230 -9,618 -297,117 16,847
Soymeal 84,408 -187 64,887 -3,271 -203,625 -3,018
Soyoil 93,536 -19,382 83,956 -1,906 -219,282 23,488
CBOT wheat 16,987 -8,224 82,881 2,211 -105,192 1,630
KCBT wheat 55,062 605 42,709 -206 -100,404 -928
MGEX wheat 11,797 4,049 3,401 211 -25,025 -4,501
———- ———- ———- ———- ———- ———-
Total wheat 83,846 -3,570 128,991 2,216 -230,621 -3,799
Live cattle 42,827 -3,160 76,489 7,941 -129,393 -1,861
Feeder cattle 13 -1,758 7,547 -532 -1,852 816
Lean hogs 38,742 1,664 53,195 2,563 -89,982 -1,961
Other NonReport Open
Net Chg Net Chg Interest Chg
Corn 182,867 12,113 -26,483 -19,001 2,580,675 201,473
Soybeans 57,399 -470 3,003 2,584 1,342,333 59,686
Soymeal 23,656 2,720 30,675 3,756 499,855 13,121
Soyoil 20,265 -4,631 21,526 2,431 568,408 -3,163
CBOT wheat 17,695 3,009 -12,372 1,372 538,192 15,758
KCBT wheat 578 -1,374 2,055 1,903 242,317 4,356
MGEX wheat 4,651 748 5,175 -507 88,317 6,000
———- ———- ———- ———- ———- ———-
Total wheat 22,924 2,383 -5,142 2,768 868,826 26,114
Live cattle 25,378 -847 -15,302 -2,072 359,752 16,012
Feeder cattle 2,033 885 -7,742 589 48,928 -87
Lean hogs 10,661 -2,208 -12,616 -58 245,388 3,674
Terry Reilly
Senior Commodity Analyst – Grain and Oilseeds
Futures International
One Lincoln Center
18 W 140 Butterfield Rd.
Oakbrook Terrace, Il. 60181
W: 312.604.1366
ICE IM: treilly1
Skype: fi.treilly
Trading of futures, options, swaps and other derivatives is risky and is not suitable for all persons. All of these investment products are leveraged, and you can lose more than your initial deposit. Each investment product is offered only to and from jurisdictions where solicitation and sale are lawful, and in accordance with applicable laws and regulations in such jurisdiction. The information provided here should not be relied upon as a substitute for independent research before making your investment decisions. Futures International, LLC is merely providing this information for your general information and the information does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision. The contents of this communication and any attachments are for informational purposes only and under no circumstances should they be construed as an offer to buy or sell, or a solicitation to buy or sell any future, option, swap or other derivative. The sources for the information and any opinions in this communication are believed to be reliable, but Futures International, LLC does not warrant or guarantee the accuracy of such information or opinions. Futures International, LLC and its principals and employees may take positions different from any positions described in this communication. Past results are not necessarily indicative of future results.
CommitFI011621.pdf