Sunday Commentary

Funds Heavily Short Against Wet Central US Weather

Apr 16, 11:25 am | Sunday Commentary

** AgResource Pre Opening Sunday CBOT Market Calls: Soybeans 1-3 cents higher,  corn steady to 2-3 cents higher with wheat called 1-2 cents higher.       ** Sunday Weather & Market Comment Discussion: Happy Easter! Pre-opening weekly CBOT grain calls are firm. Friday’s domestic Chinese cash meal trade was sizeable which will likely result in CBOT purchases this evening to lock down margin. Moreover, Friday’s Commitment of Trader’s Report (CoT) reflected larger than expected short positions in corn, soy and wheat. The combination of wet Midwest weather forecasts into the closing days of April and a market that is seasonally too short should provide some CBOT lift to start the week.   The CFTC CoT reported that funds (managed…

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