On Friday, the Committment of Traders Report showed that money managers lightened up on their corn short positions. They are still net short. They sold 17,000 shorts and added 26 longs, leaving them net short 88,000 contracts. The COT Report includes some of the final trades of 2013.
WWhat do you think?
Re: COT Report
All news is bear food, decent weather in Brazil, a little less than perfect in Argentina.
Good crop here.
Might be like the bulls when the price was in the 7.50+ cash area thinking 8.50 was next.
Seems all are expecting $3.50ish. They might just be in the "hope" stage now?
We are already between fourty and fifty percent down from the highs, quite a drop in nineish months.