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Houston,Tx | Per the COT and daily volume & open interest reporting from the cmegroup, corn and beans have added over 50,000 contracts of new open interest, each, since Sep 5th. longs are not net leaving - adding this many lots. Funds are interested in something...could it be, to make money?
some longs and shorts leaving, longs and shorts adding, most of the increase in OI is from spreading.. How negative are the bull spreads?. How much more carry needs to be added to the market before supply/demand is equalized and prices can go up. Nov/Mar beans are minus 29.
Do corn and beans always follow seasonals exactly every year?
Are the balance of funds bull spreading in C/B?. Bear spreading?, preparing for a big selloff, a rally? Which has more potential? You decide.
COT site: https://www.cftc.gov/dea/futures/deacbtsf.htm
daily volume and open interest data: https://www.cmegroup.com/markets/agriculture/grains/corn.volume.html...
In Sep 2014 I watched open interest increase substantially the last 10 days of September, as beans corrected down. They rallied about 20 % from Oct 1 - Nov 12th.
That's all I got - connect all the dots.
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Grain markets showing harvest pressure
