PDF attached
CFTC Commitment of Traders
Traders missed the net long positions in soybeans and soybean oil (less than expected). Lower trade Sunday night could be taken under consideration.
The net longs for soybean oil managed money futures and options are down for the third consecutive week, while SBO futures traded higher.
What is next for the soybean/corn traditional funds futures & options relationship?
Depends in part on Index funds (they are near record long CBOT aggregated)
SUPPLEMENTAL Non-Comm Indexes Comm
Net Chg Net Chg Net Chg
Corn 339,802 -8,812 408,098 1,159 -738,710 6,286
Soybeans 129,770 3,238 165,766 -1,870 -291,244 -3,127
Soyoil 74,589 -4,147 125,347 -793 -220,282 6,096
CBOT wheat -4,234 -4,648 153,602 -2,685 -135,465 7,188
KCBT wheat 28,252 -4,442 69,062 -130 -92,607 4,167
=================================================================================
FUTURES + OPTS Managed Swaps Producer
Net Chg Net Chg Net Chg
Corn 356,514 7,966 260,678 -2,931 -723,193 6,373
Soybeans 159,601 4,040 90,567 -533 -277,756 -4,388
Soymeal 64,244 -1,179 70,306 633 -185,297 -3,218
Soyoil 99,574 -8,508 95,122 2,584 -235,110 3,952
CBOT wheat 27,576 -4,227 93,552 161 -116,891 4,683
KCBT wheat 47,664 -4,060 41,748 -424 -84,710 4,265
MGEX wheat 16,590 2,489 3,917 -275 -27,676 -2,166
———- ———- ———- ———- ———- ———-
Total wheat 91,830 -5,798 139,217 -538 -229,277 6,782
Live cattle 81,660 1,090 83,265 -1,012 -169,816 660
Feeder cattle 379 -784 7,425 -268 -2,731 -743
Lean hogs 74,287 155 55,368 337 -134,458 -5,942
Other NonReport Open
Net Chg Net Chg Interest Chg
Corn 115,193 -12,777 -9,190 1,368 2,374,719 16,167
Soybeans 31,882 -879 -4,293 1,759 1,193,643 37,019
Soymeal 17,922 408 32,824 3,357 471,502 10,492
Soyoil 20,067 3,127 20,347 -1,156 590,495 41,721
CBOT wheat 9,663 -762 -13,902 145 503,536 -7,013
KCBT wheat 5 -186 -4,707 404 233,235 -5,263
MGEX wheat 1,858 -235 5,312 186 87,446 2,502
———- ———- ———- ———- ———- ———-
Total wheat 11,526 -1,183 -13,297 735 824,217 -9,774
Live cattle 19,796 -1,764 -14,905 1,026 381,857 -4,472
Feeder cattle 3,992 1,283 -9,065 511 50,687 2,437
Lean hogs 13,866 3,890 -9,065 1,561 319,949 5,761
Source: Reuters, CFTC and FI
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
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CommitFI031221.pdf