Death comes to us all. Life's but a walking shadow | Yesterday I pointed out that the pattern of ownership of new crop corn hasn't been seen since 2012. Well, interestingly the pattern of ownership of old crop at this time of year has never been seen since 2006 when the more detailed commitment of traders was first reported. You can see that commercial interest are holding unusually large positions for this time of year. This implies that merchants have bought, hedged and are holding a good deal of old crop corn. Perhaps this explains their relative ambivalence to the recent corn rally. Meanwhile, Managed Money and Other reportables are left holding the long side of this position.
Could this be the "long tail" of a "long crop"?
For what it's worth.
Edited by 1234 8/1/2015 06:46
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 old crop long 7-28-15-page-001.jpg (111KB - 509 downloads)
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No life left in old crop, don't be so sure.
