Funds Short, Who's Long?
Are the funds smarter than everyone else? Are they only trading technicals and realize there is huge supply and less demand? Are they simply being objective and saying there is more grain on hand than buyers?
All the numbers say the funds are right.
It's easy to come to the conclusion that the farmers are in denial and are facing a marketing challenge of immense proportions.
What does one do? Go long the market and hope to make a dime on a short-covering rally?
Buy calls that limit the downside but which cuts drastically into the non-existent profit?
Farm the government crop insurance?