April 3rd

Published on: 22:16PM Apr 03, 2011

CoT for wheat and corn showed little change from the prior week while beans saw open interest shrink. Guess folks were waiting for Thursday's reports.

When balance is restored to corn, I imagine prices will go sideways for at least a few days. Weather is what everyone will respond to next. That's no change from most years. 

Next week's CoT may provide some insight as to what the funds are thinking -- or, more properly, what their models have them doing.