PDF attached
As of last Tuesday, traditional funds were more long than expected for corn, soybeans and wheat than expected. Soybean products were off a touch but near expectations ahead of the positioning ahead of the EPA announcement. As of Friday, we saw large net long reductions for soybeans and soybeans oil since Tuesday, with more room to sell, in our opinion. Wheat was not as short as expected early last week but don’t discount the short position to continue to influence possible selling in the other commodity markets if bearish developments arise (Black Sea ample supplies and Paris wheat selling). The Investment funds, in our opinion, have been rethinking their inflationary positions over the past week.
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.
CommitFI120222.pdf