Traders Sell Across the Board this Week

September 30, 2011

In corn, the NC traders sold 43,401 contracts, while the index funds sold nearly 16,000. The index funds reduced their long position to 342,550 contracts, their smallest position since September 2009. In wheat, the NC traders sold 11,229 contracts, extending their short position to 74,639 contracts, just a few thousand contracts shy of their record short position. The index funds sold just over 3,000 contracts, reducing their long position to 195,252. Their combined positions account for 23.5% of the fut/option open interest, it’s smallest level since June 2010. In KC wheat, the NC traders sold nearly 3,100 contracts, while the index funds sold nearly 1,000.

In soybeans, the NC traders sold 41,316 contracts, reducing their long position to 44,320 contracts. The index funds sold just over 10,000 contracts, reducing their long position to 148,823 contracts. Their combined positions account for 23.4% of the fut/options open interest, the smallest since June 2010.

In soybean oil, the NC traders sold nearly 26,000 contracts, liquidating their remaining long positions and establishing a short position of just over 12,000 contracts. The index funds sold just over 2,400 contracts. In soybean meal, the NC traders sold 22,693 futures, reducing their long position to just over 8,000, their smallest position since Mch-2010.