Funds Bearish Sentiment on Us Grains and Oilseeds Hits Nine-Month High: Braun

Nervilla, Illinois, – Speculators Dug Deeper Into Bear Territory Last Week Across Us Grain and Oilseed Futures, And With This Time of Year Known To Feature Planty of Uncertia Their eyes glued on Upcoming Weather Forecasts for the Us Corn Belt.

In the week ended June 3, money manners’ Combined Net Short Position Across Us Grain and Oilseed Futures and Options Surpassed 400,000 Contracts, Up more than 90,000 on the week.

That marks their most bearish collective positions early September and their most bearish open to june in eight years. Just four months ago, The Combined Net long topped out at 300,000 contracts.

Last Week’s Move was driven by heavier seling in corn, soybeans and soybean oil. Money Manners MainTained Bully Soybean Oil Bets Through the Week Ended June 3, but they slashed their net long futures and options by 22,000 to 31,990 contraculats due to negative Us biofuels front.

Money manners Nearly Eraced Bully Bets in Cbot Soybean Futures and Options, Reducing Their Net Long to 8,601 Contracts from 36,697 a week earlier. Funds’ Bearish Soymeal Position Remained Near-Record Large as Prices have traded sides over the last several weeks, and they also maintaned Sizable Net Shortes

Last Week’s Net Selling in Corn Was Primarily Driven by a Large Wave of New Gross Short Positions, A Trend That Has Been Present in Six of the Last Seven Weeks. As of June 3, money manners’ Net short in cbot corn futures and options hit a nine-month high of 154,043 contracts, up from 100,760 a week earlier.

Recent Heavy Speculative Selling in Corn Comes Against The Backdrop of a Wildly Strong Us Export Program and Similarly Robust Us Ethhanol Grind. These factors have parade 2024-25 us corn ending stock predictions significantly over the last year.

However, the futures market does not see to be reflected a terribly tight situation. Late Last Week, CBOT July Corn Opened Up A Discount to December Corn, Not Sugggestive of Imminent Concen Over Supplies.

Funds’ Building Bearishness in Corn as Well as the newly Establed Market Carry BE Hinting at the Expectation that last year’s us corn crop was worker than the US department of agents stated. The Agency’s June 30 Stocks Report Could Potentially Validate this notion.

But in the meantime, traders will need to be watching the US weather forecasts, which as of Friday suggested a potential dry spell for the western corn belt over the next two weeks. Heat Risks Were Relatively low, Thought Corn and Soybean Crop Conditions Are Sitting at Just Average Levels.

In the week ahead, the market will be anticipating usda’s monthly supply and demand report on Thursday, and traders expect a further contraction in old-crop us corn supply.

All eyes will turn toward London on Monday, where top us and chinese officials will hold talks aimed at resolving trade disputes. Pending the outcome, this could have markets starting off the week with a bang.

But white that trejectory is higher or lower is anyone’s guess.

Karen braun is a market analyst for reates. Views Expressed Above Are Her Own.

This article was generated from an automated news agency feed without modifications to text.