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Speculators Are Back in Corn and Beans

October 18, 2010
 
 

As expected following the blockbuster crop report on Oct. 8, non-commercial traders leaped back into ownership of corn and soybeans, adding 15,000 and 12,000 contracts to their long positions respectively. They also added 65,00 contracts to their short position in wheat.

Commercials added to their short positions in corn (32,000 contracts) and soybeans (11,000), while lightening up their short wheat positions by nearly 3,000.

With their long-term ownership focus, index funds made only modest moves, reducing corn by less than 1,000 contract, adding 1,400 each to corn and beans.

COT 10 15 10

(click to enlarge)

 

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