PDF attached


Index funds were very busy buying corn and soybean meal.  Traders missed estimates for the net long corn position (more long than expected) for the week ending 9/22 and also missed in the other direction the soybean position. 






FUTURES + OPTS     Managed                 Swaps              Producer

                        Net        Chg        Net        Chg        Net        Chg

Corn                95,912     37,356    179,215      5,992   -299,308    -35,471

Soybeans           211,143     19,369    122,210      3,247   -338,490    -13,692

Soymeal             65,248     21,550     77,182        610   -191,094    -25,940

Soyoil             101,702      7,139     89,707     -2,310   -232,384     -7,939

CBOT wheat          14,543       -570     89,683     -8,110   -100,818      4,701

KCBT wheat          18,463      8,272     44,006     -1,259    -64,594     -5,522

MGEX wheat          -2,298        710      2,313        154     -1,275     -1,395

                 ———- ———- ———- ———- ———- ———-

Total wheat         30,708      8,412    136,002     -9,215   -166,687     -2,216

Live cattle         57,999     -1,622     79,898       -301   -141,469      1,652

Feeder cattle          710       -800      4,680        510     -3,401         39

Lean hogs           43,580      1,108     48,462       -171    -99,605     -3,192

Source: Reuters and CFTC




Terry Reilly

Senior Commodity Analyst – Grain and Oilseeds

Futures International │190 S LaSalle St., Suite 410│Chicago, IL  60603

W: 312.604.1366


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