Floor Talk January 18
The grain and oilseed markets are closed to day in observance of the Dr. Martin Luther King Jr. holiday in the U.S.
There's still plent to talk about, especially Friday's report from the Commodity Futures Trading Commission that showed speculative investors were record net-short corn futures, meaning a lot of big-money folks are betting on price declines.
That could be read two ways:
Bears will say that it means even speculative investors know there are few positive price factors that could turn the market higher, so it's best to stay short.
Bulls, on the other hand, will say this is a prime opportunity to buy because investors who are short the market, or bet on price declines, will soon be spooked should even the most-remotely bit of bullish news present itself.
The question remains: is there anything bullish enough that it could cause short-betters to liquidate their positions and again start buying corn?