PDF attached
No major records stand out this week. Note the positions below are from last Tuesday and don’t reflect the ongoing fireworks we saw over the past three trading days. However, as of March 1, the net fund positions were much less long than expected for all five commodities we monitor on a daily basis, especially for Chicago wheat and soybean oil.
Estimates Friday afternoon
SUPPLEMENTAL Non-Comm Indexes Comm
Net Chg Net Chg Net Chg
Corn 293,763 7,070 444,009 -1,026 -715,256 -12,428
Soybeans 139,999 -4,863 189,461 -3,202 -297,577 8,831
Soyoil 46,586 5,541 125,138 1,780 -186,629 -7,777
CBOT wheat -31,298 9,028 149,824 4,140 -111,237 -12,662
KCBT wheat 21,161 4,164 57,669 -689 -80,028 -4,108
=================================================================================
FUTURES + OPTS Managed Swaps Producer
Net Chg Net Chg Net Chg
Corn 349,222 -5,213 301,888 4,507 -717,411 -14,783
Soybeans 175,721 -4,614 133,869 1,732 -305,293 9,861
Soymeal 94,829 4,412 94,834 130 -230,729 1,864
Soyoil 81,431 2,231 90,765 -469 -189,506 -6,329
CBOT wheat -7,036 11,017 88,718 -3,245 -90,463 -8,838
KCBT wheat 45,481 4,702 25,173 -372 -69,066 -4,296
MGEX wheat 10,602 3,619 1,639 -833 -20,632 -1,795
———- ———- ———- ———- ———- ———-
Total wheat 49,047 19,338 115,530 -4,450 -180,161 -14,929
Live cattle 60,152 -25,281 81,898 -2,260 -145,363 23,322
Feeder cattle -3,875 -6,542 6,994 151 3,124 4,010
Lean hogs 74,506 -2,455 61,626 -2,377 -130,978 5,916
Other NonReport Open
Net Chg Net Chg Interest Chg
Corn 88,816 9,106 -22,515 6,383 1,977,728 30,408
Soybeans 27,585 -6,213 -31,882 -767 1,007,315 -29,625
Soymeal 12,278 -5,902 28,788 -504 452,265 -36,903
Soyoil 2,404 4,111 14,906 456 439,766 -17,674
CBOT wheat 16,071 1,572 -7,289 -506 508,287 36,374
KCBT wheat -2,786 -668 1,198 634 234,174 208
MGEX wheat 4,961 100 3,430 -1,091 71,037 104
———- ———- ———- ———- ———- ———-
Total wheat 18,246 1,004 -2,661 -963 813,498 36,686
Live cattle 17,592 -3,438 -14,279 7,657 416,307 1,813
Feeder cattle 649 -1,038 -6,892 3,419 63,109 5,681
Lean hogs 5,897 -3,247 -11,051 2,164 356,855 -5,274
=================================================================================
Source: Reuters via CFTC, and FI
Terry Reilly
Senior Commodity Analyst – Grain and Oilseeds
Futures International
One Lincoln Center
18 W 140 Butterfield Rd.
Oakbrook Terrace, Il. 60181
W: 312.604.1366
ICE IM: treilly1
Skype: fi.treilly
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CommitFI030422.pdf