By: Dan Hueber – If you are a reader of this letter on a regular basis, you already know that I find it nonsensical that some in the trade appear to be hyper-focused on the minor changes in crop rating each week instead of taking a broader look at the…
Commentary
Afternoon Grain Market Recap
By: Jeff Kaprelian – Grains finished higher across the board on the back of crude oil. Crude oil futures are currently $7/bbl higher after the drone attack on a Saudi oil refinery. Iranian-backed Houthi rebels claimed responsibility, but the U.S. government is stating it was Iran directly. A late ABC…
Commitments of Traders Analysis
By: Jeff Kaprelian Corn Commercials were net buyers of 28,628 contracts on new longs and short-covering. Funds added 42,784 new shorts and 14,294 new longs to the net effect of being net sellers of 28,490. Funds have now switched from being net long to net short 7,478 contracts. The decline…