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Middle Tennessee | Sat, From the data, do you think the corn-bean positions represent the largest spread trade you've seen? Managed Money was net long soybeans 52k contracts on 3/21, as of tonight we can conservatively add another 25k to that, so almost 80k. Back in the salad days, Managed Money would be long 200k in the beans, but they were also long corn, with your 58k tonight I think we can safely say the funds are record short in the corn trade.
An interesting factoid on the bean rally for the month of March, for the whole uptrend there has not been a single session of noted short stop buying, no sessions with sizeable price increase and open interest decrease.
Another interesting fact today, Paris wheat didn't follow US markets, it even held a little gap down retesting the very very bottom of prices.
I GOT 2 TICKETS TO PARADISE | |
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Eddie money.
