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Grain & Oilseeds with Craig Turner - Premium Producer | Funds Liquidate Corn

Craig Turner
Craig Turner

Senior Risk Management Consultant

GRAINS & OILSEEDS |  The CFTC released their Commitment of Traders (CoT) report after the close and managed money liquidated positions across all grain and oilseed commodities.  Corn was the biggest loser, down 86K contracts, but funds were still long 230K as of the close on Tuesday. They are probably closer to 200K by the close of today.

Harvest will roll on this weekend. That should lead to some pent up selling to start next week.  Corn and soybeans should be over 50% harvest sometime next week, if they are not already, and that tends to mark a seasonal harvest bottom.  

The 2nd and 3rd tables below show Corn and Soybean exports.  The pace of corn exports is starting to be a concern.  It is early but we are behind the USDA export pace.  Soybeans are the opposite, as bean exports are well ahead of pace.  Corn exports need to pick up or the USDA will eventually have to lower new crop export demand.

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CFTC Commitment of Traders

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Craig Turner

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