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Buxton ND | Fund boys sitting +155k net long as of the 17th, estimated (the guess) since the 17th have them @ +160k was a wild week higher off the heavy duty rains in Argentina tho has mellowed out since Tuesday. Fair amount of the OI rise I see as hedge pressure, much more out of Brazil.
Brazil is said to be behind on producer sales, my question is are they hedging in H instead of K with alot of early harvested bushels ? Commercials are the only ones that know how much is sold in Brazil. | |
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A Few Observations on the Bean Market
