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Corn Leads Prices Higher

March 18, 2011
 
 

 

This information is provided by Mark Soderberg - Archer Financial Services, Inc. 800-933-3996.

Across the board the speculative traders were net sellers in agricultural commodities in the week ended Tuesday March 15th.  I suspect it would be quite a different picture if the data were thru today’s close of business.  In corn the NC traders sold just over 55,000 contracts, reducing their long position to 255,831 contracts, their smallest since early Aug-10. 

The index funds sold 16,435 contract, reducing their long position to just under 378,000 contracts.  Their combined positions account for just over 27% of the open interest, the smallest level since June-10.  In wheat the NC traders bought just over 5,000 contracts, reducing their short position to just under 5,000.  The index funds sold nearly 8,000 contracts.  In KC wheat the NC traders sold just over 2,500 contracts, while the index funds sold just over 1,600 contracts.   

In soybeans the NC traders sold just over 32,000 contracts, reducing their long position to just over 84,000 contracts.  The index funds sold just over 5,000 contracts, reducing their long position to 156,322.  Their combined long position accounts for 26.8% of the open interest, the smallest level since last July. 

In soybean oil the NC traders sold just over 25,000 contracts, reducing their long position to 26,847.  The index funds bought 978 contracts.  The NC traders sold 2,500 soybean meal futures, reducing their long position to 32,494, their smallest position since June-10.

 

3 18 11 Prices

(click to enlarge)

 Table 3 18 11

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