FI Ag Commitment of Traders 05/05/23

May 5, 2023

PDF attached

 

Money mangers and traditional funds sold a much larger amount of corn than the trade expected.  Funds missed the net short position by 58,200 contracts. The money manager position was also well off.  Funds sold more than expected soybeans and soybean meal and were a little less short for soybean oil. The funds short covering over the past three sessions is not surprising given the sharp increase in the short position for corn for the week ending May 2. Look for additional short covering next week if bullish headlines develop.

 

 

 

 

 

 

Reuters table

SUPPLEMENTAL      Non-Comm               Indexes                  Comm

                        Net        Chg        Net        Chg        Net        Chg

Corn              -153,429    -64,099    285,294    -30,973    -78,324     88,335

Soybeans            36,874    -22,009    123,910     -7,603   -131,445     28,158

Soyoil             -43,883     -1,553     96,808     -2,167    -51,706      3,624

CBOT wheat        -108,099     -7,737     68,887     -4,303     30,535     12,534

KCBT wheat         -20,269     -8,264     37,214     -3,263    -17,371      8,599

=================================================================================

 

FUTURES + OPTS     Managed                 Swaps              Producer

                        Net        Chg        Net        Chg        Net        Chg

Corn              -118,146   -102,849    245,054      7,289    -99,053     82,375

Soybeans            56,373    -30,835     99,873      4,952   -140,220     24,408

Soymeal             60,557    -25,816     93,808      1,979   -187,706     24,025

Soyoil             -23,734     -4,179    102,298     -4,795    -75,648      7,582

CBOT wheat        -126,324    -13,311     66,626       -760     27,064     11,070

KCBT wheat          -5,464    -12,835     31,510     -1,207    -18,336      9,755

MGEX wheat          -8,206     -4,796        902        -79      1,658      2,604

                 ———- ———- ———- ———- ———- ———-

Total wheat       -139,994    -30,942     99,038     -2,046     10,386     23,429

 

Live cattle        107,551        518     50,737        853   -168,949     -1,545

Feeder cattle       14,587      1,378        810       -472     -4,375       -319

Lean hogs           -6,823     13,839     46,994       -591    -36,371     -7,942

 

                      Other             NonReport                  Open

                        Net        Chg        Net        Chg   Interest        Chg

Corn                25,685      6,449    -53,540      6,736  1,619,667     50,130

Soybeans            13,313         22    -29,340      1,454    733,018    -16,995

Soymeal             16,975      1,177     16,368     -1,365    473,433     -9,139

Soyoil              -1,699      1,296     -1,218         96    508,660     12,772

CBOT wheat          23,958      3,496      8,677       -494    462,482     32,903

KCBT wheat          -8,136      1,360        425      2,928    202,728     18,250

MGEX wheat           2,435       -670      3,211      2,941     58,032      3,060

                 ———- ———- ———- ———- ———- ———-

Total wheat         18,257      4,186     12,313      5,375    723,242     54,213

 

Live cattle         27,789      1,905    -17,128     -1,731    426,486     -1,253

Feeder cattle        1,184       -827    -12,206        241     77,686     -1,100

Lean hogs           -5,604     -2,115      1,805     -3,191    309,981      5,780

 

 

 

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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