CFTC Commitment of Traders
Big miss on corn longs (estimates) last week as open interest increased a large amount on fund buying. We are concerned on bullish optimism as soybean prices failed to follow suite (as of last Tuesday) against the appreciation in grains and caution longs as we head into a period of favorable US harvest weather and good progress of SA plantings. I would not discount a lower trade in corn next week.
Senior Commodity Analyst – Grain and Oilseeds
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ICE IM: treilly1
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