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| If you look at the latest COT compared to a month ago, you see where end users appear to be locking in needs while farmers are still slow sellers. Until producers start selling the Funds can't get out from under their shorts without bidding up the market.
At the moment they have no reason to go long but that could change with the weather. Notice that non-reportables have increased their interest in corn, both long & short. some gambling corn will go down, some up.
The question is, did Cargill adjust their basis because they fully expect corn to go down another few cents and cancel it out?That's my guess.
 (COT corn (full).png)
 (COT corn 3-5-19 (full).png)
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 COT corn (full).png (81KB - 57 downloads)
COT corn 3-5-19 (full).png (64KB - 46 downloads)
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Cargill merchandiser called this afternoon
