During that week, money managers cut their net short in CBOT corn futures and options to 112,691 contracts from 159,433 a week earlier, marking their biggest round of net buying since late July.
Managed money net position in CBOT corn futures and optionsDecember corn futures had reached their U.S. harvest lows by mid-September in 2016, 2018 and 2019, and so far, the harvest low for December 2023 corn sits on Sept. 19 at $4.67-3/4 per bushel.
Money managers have not held a bearish soy view since April 2020 but have come close a couple times.
Managed money net position in CBOT soybean futures and optionsHowever, overall speculators’ soybean net short was preserved through Oct. 10 as other reportable traders were only slight net buyers during the week.
That small net short was established in the prior week for the first time since March 2020.
Persons:
Gleb Garanich, Wheat, Karen Braun, Deepa Babington
Organizations:
REUTERS, Rights, U.S ., U.S . Department, Agriculture’s, USDA, U.S . Renewable, Reuters, Thomson
Locations:
Bilohiria, Khmelnytskyi, Ukraine, Rights NAPERVILLE , Illinois, Chicago