Corn Futures Speculators Raised Their Bearish Bets
Zachary Storella | Oct 02, 2019 02:28AM ET
Get The News You Want
Corn Futures Non-Commercial Speculator Positions:
Get The News You Want
Get The News You Want
Large commodities speculators continued to increase their bearish net positions in the Corn Futures futures markets again last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.
Get The News You Want
Get The News You Want
The non-commercial futures contracts of Corn Futures futures, traded by large speculators and hedge funds, totaled a net position of -41,921 contracts in the data reported through Tuesday September 24th. This was a weekly change of -3,181 net contracts from the previous week which had a total of -38,740 net contracts.
Get The News You Want
The week’s net position was the result of the gross bullish position (longs) tumbling by -13,417 contracts (to a weekly total of 359,801 contracts) while the gross bearish position (shorts) fell by a lesser amount of -10,236 contracts for the week (to a total of 401,722 contracts).
Get The News You Want
Corn speculators once again raised their bearish bets for the tenth straight week and now by a total of -360,142 contracts over that time-frame. Speculative positions had gained strongly through most of the summer and reached a cycle high of +318,221 contracts on July 16th before a sharp shift in sentiment took place. Since then, positions have reversed, falling for ten consecutive weeks and dropping to the most bearish level in nineteen weeks at over -40,000 net contracts.
Get The News You Want
Get The News You Want
Corn Futures Commercial Positions:
Get The News You Want
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -51,962 contracts on the week. This was a weekly rise of 8,691 contracts from the total net of -60,653 contracts reported the previous week.
C:
Get The News You Want
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Corn CBOT Futures closed at approximately $398.75 which was a decrease of $-0.25 from the previous close of $399.00, according to unofficial market data.
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.