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Buxton ND | Gonna look at this as objectively as I can using the facts of money flows. Looking forward using what they've done in the past. Past goes back a few years in commodity's in general. I don't care if its crude/copper/corn or cows they react very similar.
Starting date is CC or March 1st 16 weeks all but 4 week funds have been buying beans. Nearly ALL of March and April I would call massive buying. The 4 weeks they did net sell beans was minimal. So call it 4 month the fund boys have had a HO the size of Texas for beans. This leaves them net long 247k up from -77k net short March 1st, all time record was 259k. That is a ***BIG RUN*** with most of this done in 10 weeks. So you decide will they keep buying going to a new long record net long during the uncertainty's of "Brexit"
Corn same time frame, I was surprised to find the same 4 out of 16 weeks. Massive selling 1 week off the March 31st (93.6 will do that) 2 weeks of fair selling and one of not Jack. So they went from net short -100k to net long 362k on June 14th sold 34k this past week to 329k. 462k of total buying,,,,,,,,,, corn really should have rallied more but producer hedge pressure has tempted this rally, very strong opinion on this. That 362k IS IMPORTANT in my mind, because the peak in 2012's drought was 359k So these big boys spec traders are MORE LONG then in 2012 with crop ratings of 75% G-E the last 2 weeks.
This maybe helps explain why I say they've gotten them self's too long before the drought hits and this rally has very little to do with the drought and everything to with the spec money buying the manure out of it. This started 4 weeks ago,,,,,,,,,,,,, I find it highly UN-likely these fund boys starting buying on Captain Kirk 90% confident drought.
Bean Oil was the start,,,,,,,,,, remember when that was the doggiest dog ? No one brings this up and it start before you started combining beans.....
They've done beans,,,,,,,,,,,,,,,
Then it was meal,,,,,,,,,,,,,,,,,,,,
They did corn,,,,,,,,,,,,,,,,,,,,,,,,,
Thennnnnnnnnnnnnnnnnnnnnn #THEwheatparty We have so dam much here its 3.50ish down south, world wide stocks are very high, stocks to usage ratio is very high. Yeah wheat should NEVER RALLY RIGHT ? ? ? Remember when they said that about beans and corn ? ? ? I mite have to buy one of demd dhere KEZ's just to piss off old 48 again :o) | |
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Will the funds still flee?
