Oliver Sloop sums up the grain trade this week in his weekly video for CME Group.
The position of the fund as of May 16, 2023 is as follows:
The position of the fund as of May 16, 2023 is as follows:
corn: By May 16, the fund was net long of 17,657 futures and options contracts, the majority of which were new longs (vs. short cover). This reduces the net short position to 91,985 contracts (171,753 long vs. 263,738 short).
soy: Money under management was net short of 24,517 futures/options contracts through May 16, the majority of which were new short (vs. long liquidations). This reduces the net long position to just 23,942 contracts (98,465 long vs. 74,523 short). 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 through May 16, most of which were new longs (vs. short cover). This brings their net short position to 112,769, a breakdown of 62,198 vs. long 174,967.
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