PDF attached
Traditional funds and managed money sold a lot more corn and soybeans than the trade predicted for the week ending April 25. The large drop in open interest during this period helps explain this. Look for possible technical short covering early next week for corn and soybeans.
Reuters table
SUPPLEMENTAL Non-Comm Indexes Comm
Net Chg Net Chg Net Chg
Corn -89,330 -70,100 316,267 -1,574 -166,659 69,467
Soybeans 58,883 -52,373 131,514 -5,691 -159,603 58,015
Soyoil -42,331 -4,976 98,975 -4,751 -55,331 14,429
CBOT wheat -100,362 -10,940 73,190 -1,921 18,001 10,218
KCBT wheat -12,004 -1,696 40,478 -2,006 -25,970 6,015
FUTURES + OPTS Managed Swaps Producer
Net Chg Net Chg Net Chg
Corn -15,297 -64,730 237,767 7,358 -181,427 65,186
Soybeans 87,208 -47,573 94,921 7,859 -164,627 50,078
Soymeal 86,373 -19,309 91,828 1,253 -211,731 22,024
Soyoil -19,555 -3,811 107,093 -916 -83,229 13,807
CBOT wheat -113,012 -10,030 67,386 2,134 15,994 9,529
KCBT wheat 7,371 -3,219 32,718 -142 -28,091 6,080
MGEX wheat -3,410 -3,448 981 -244 -945 5,366
———- ———- ———- ———- ———- ———-
Total wheat -109,051 -16,697 101,085 1,748 -13,042 20,975
Live cattle 107,033 2,692 49,885 2,175 -167,404 -2,854
Feeder cattle 13,210 2,198 1,282 20 -4,056 -601
Lean hogs -20,663 3,907 47,585 709 -28,428 -4,250
Other NonReport Open
Net Chg Net Chg Interest Chg
Corn 19,234 -10,019 -60,278 2,205 1,569,537 -120,725
Soybeans 13,291 -10,414 -30,794 50 750,013 -105,995
Soymeal 15,797 -2,009 17,732 -1,959 482,573 -21,975
Soyoil -2,995 -4,379 -1,314 -4,701 495,888 -27,363
CBOT wheat 20,462 -4,276 9,171 2,643 429,579 -29,349
KCBT wheat -9,495 -405 -2,503 -2,313 184,479 -6,261
MGEX wheat 3,104 -876 270 -797 54,972 -6,185
———- ———- ———- ———- ———- ———-
Total wheat 14,071 -5,557 6,938 -467 669,030 -41,795
Live cattle 25,885 -1,827 -15,397 -186 427,739 7,256
Feeder cattle 2,011 -524 -12,447 -1,093 78,786 4,532
Lean hogs -3,489 826 4,996 -1,194 304,201 -27,777
| Terry Reilly Senior Commodity Analyst – Grain and Oilseeds |
| Futures International One Lincoln Center 18W140 Butterfield Rd. Suite 1450 Oakbrook terrace, Il. 60181 |
| Work: 312.604.1366 ICE IM: treilly1 Skype IM: fi.treilly |
| treilly@futures-int.com
|
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CommitFI042823.pdf