Oliver Sloup recaps this week’s grain trade in his weekly video for CME Group.
This is how the funds are positioned as of May 16, 2023:
This is how the funds are positioned as of May 16, 2023:
Corn: Money under management was a net buyer of 17,657 futures/options contracts as of May 16, the majority of which were new long positions (vs. short coverage). This reduces their net short position to 91,985 contracts (171,753 long versus 263,738 short).
soybeans: Money under management was a net seller of 24,517 futures/options contracts as of May 16th, the majority of which were new short positions (as opposed to long liquidation). This shrinks their net long position to just 23,942 contracts (98,465 longs vs. 74,523 shorts). This is the smallest net long position since November 9, 2021.
Wheat: Money under management was a net buyer of 4,136 futures/options contracts as of May 16, the majority of which were new long positions (vs. short coverage). This brings her net short position to 112,769, broken down into 62,198 long positions versus 174,967
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