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Funds may hold record bearish grain views

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    #1

    Funds may hold record bearish grain views

    Funds may hold record bearish grain views following USDA data - Speculators further increased their already massive net short stance on Chicago-traded grains last week, but they may have reached an all-time record in the days since. Combining net positions through Nov. 7 in CBOT corn and wheat, K.C. wheat, and Minneapolis-traded wheat futures and options, money managers notched their third most-bearish week ever with a net short of 349,922 contracts, according to data from the U.S. Commodity Futures Trading Commission. (REUTERS)
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    #2
    whats gonna make sentiment change

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      #3
      Anyone care to comment on carry in wheat futures?
      Looks like 75 cents December 2017 to 2018, $1.23 Dec 2017 to Dec 2019, Chicago wheat.
      Kansas wheat is 90 cents and $1.42 on Dec months.
      Might be an opportunity for those prepared to store currently unpriced winter or utility wheat.

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        #4
        Until we see something bullish in any of these markets this sentiment will continue.

        Everyone keeps talking about how corn can't go lower but really is there any bullish news on it to bring it up?

        Good opportunity for a short covering rally. "When" it happens.

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          #5
          Originally posted by Hopalong View Post
          Anyone care to comment on carry in wheat futures?
          Looks like 75 cents December 2017 to 2018, $1.23 Dec 2017 to Dec 2019, Chicago wheat.
          Kansas wheat is 90 cents and $1.42 on Dec months.
          Might be an opportunity for those prepared to store currently unpriced winter or utility wheat.
          An alternative to farm storage, move the physical for cashflow and bin space, then purchase new crop wheat put options to capture the carry. December $5 put options did recently trade for 30 cents/bu.

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            #6
            Originally posted by malleefarmer View Post
            whats gonna make sentiment change
            The record short position, that is what. Who is left to take the other side of the trade, when everyone is on one side? Eventually all of those shorts have to be bought back.

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              #7
              Mexican stand off...who will blink/sell first...buyers/market always makes $$$ going up or down.

              Need bins empty if growing another bumper crop/have bills to pay...and they know that!

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