This year ends with a peek at the latest numbers from the CFTC’s Commitment of Traders (COT) report. The chart below shows the net reported positions of the four different reporting groups. The producer/merchant/processor/user (PMPU) group is the commercial sector of the markets. However, the large speculative funds known as Pools is the sector of most concern. Note that the size of its short in Chicago wheat and corn futures remains record or near-record large. The Pools position in soybeans has shifted from a modest long three or four weeks ago to a small net short position at year-end, and this could be one of the keys to how the soy complex reacts in early 2018.
Weather in Argentina will be one of the key factors in the directi...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
