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San Diego | "Some could see the market gap open higher on Monday and test the recent highs if the US Midwest ridge is over the US Midwest and is around for the rest of July. Same group though feels that if the ridge is not there we trade back below today's low."
http://www.admis.com/knowledge-center/latest-research
COT thru last tuesday the large specs were 'long and wrong':
"Managed funds buy 148K corn—going from short 47 to long 101K, soy goes from short 70K to long
19K (bought 89K), wheat long up 27K to+45K, oil long up 23K to +43K and meal short down 36K to
-7K. Managed funds in 5 major ag markets buy 323K contracts taking long to +200K—the longest since 3/7/17" (feltes)
with juli can estimate what's happened since last tuesday-
https://twitter.com/JuliJohnston
last sunday when telling about the COT showing gold&silver bottom, forgot the link. so look at the massive short side working of the large specs at this link and how the commercials took them all!
http://news.goldseek.com/COT/1499455834.php
it works the same in the ags, if not all futures: the commercials have all the product, and are usually short to what the large specs buy, knowing the large specs will have to sell. when the large specs sell like mad, the commercials go long and the commercials rarely (if ever) lose in the end!
cheers!
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Tug of war
