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Buxton ND | Frosty I would agree with you on the funds being friendly corn and wheat but not beans below is why.
ZW COT wheat numbers spec money added 18k,14k from short covering and 5k from net new buying futures only side of things. KC was neutral with MPL a tad negative..... I think that why we've rallied hard wheat so much is the fund got caught on the wrong side of the fence on the KS Tour.
Corn's the interesting one........... net longs @ 322k UP 32k for the week,that's the best new buying ALL YEAR ! ! ! 22k new buying and 10k short covering. SO EVEN with corn just messing around $5 its pretty interested numbers on the week )
Beans 159k net long with a 19k increase but almost 100% from short covering,,,NOOOOOOO new buying,price falling,OI falling since the 29th reads longs exiting IMO............... | |
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