By: Jeff Kaprelian – Corn Commercials were net sellers of 10,513 contracts on falling open interest. They sold out of 22,891 longs and bought back 12,378 shorts. Funds added to both sides of the market, but were a bit more aggressive on the long side. They added 31,645 new longs…
Author: Jeff Kaprelian
Afternoon Grain Market Recap
By: Jeff Kaprelian – Grains finished mixed after a quiet session. There wasn’t much in the news today other than the release of some estimates for next week’s report, as Dan pointed out earlier today. Informa released their estimates as well, and raised their yield estimates to 178.8 bpa for…
Commitments of Traders Analysis
By: Jeff Kaprelian – Corn I had to do a double take when I saw this week’s figures. Commercials were net buyers of 61,746 contracts after selling 6,355 longs and buying back 68,101 shorts. That speaks volumes, in my opinion. Funds were net sellers of 68,574 contracts after selling out…
Afternoon Grain Market Recap
By: Jeff Kaprelian – It was a strong day in the grains marked by short-covering after some bullish news this morning. Wheat got off to a head start after Statistics Canada dropped their forecasts for wheat, oats, and canola. Their wheat estimate was cut to 28.99 million metric tons, which…
Afternoon Grain Market Recap
By: Jeff Kaprelian – Grains finished lower after a slow day. Export sales, which Dan detailed this morning, did little to move them. Soybean meal sales, though, remain quite strong and above estimates. I continue to believe this will be a bullish factor for soybean prices. The USDA released a…