Death comes to us all. Life's but a walking shadow | At the risk of being redundant the answer to John e.c. MI 's question is two groups are buy the soybean futures market right now. This is very clear from the latest COT data. The conventional wisdom is that commercial long category is a measure of end user hedging. If this is true you can see from the chart below that end users have hedged about half again as many soybeans as last year, to the tune of 1.5 billion bushel. Likewise the managed money has been buying quite heavily for the past several weeks.
It will be very interesting to see how this all unwinds in about two months.
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When the market is in a tailspin like this...
