CBT Corrects as Funds Par Risk on Margin/Limit Hikes; US Corn Exports to China Strong; Not Enough Rain for the N Plains/NW Midwest into mid May
CBT grain/soy futures are mixed at midday with July corn leading the rally while fund managers pare their market risk amid rising margin/daily position limits. AM selling is due to “Value at Risk” (VAR) calculations as CBT daily limits rise along with position limits. Both increases have risk managers telling traders to trim their exposure…