Speculators Reduce Corn and Bean Holdings

July 31, 2010 02:13 PM
Between July 20 and 27, as corn prices slumped, non-commercial traders reduced their net long position by more than 6,000 contracts. They also reduced soybeans by 5,000, though bean prices were not so weak. Given the story of wheat crop losses, they lightened their short position by almost 7,000 contracts.
Commercials lightened short positions in corn and soybeans, while they added 6,000 contracts to their short wheat position. 
Index traders added to long corn and bean positions but reduced their long position in wheat by a modest 800 contracts.

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