Chicago-traded grain and oilseed futures continued rising last week, and while speculators were buyers of soybeans, soy products and wheat during the period, they trimmed bullishness in corn for the third consecutive week.
According to a report at Reuters, CBOT corn futures rose more than 1% in the week ended Dec. 15, but money managers reduced their net long position to 250,260 futures and options contracts from 269,583 a week earlier, according to data from the U.S. Commodity Futures Trading Commission.
Both commercial users and other reportable traders bought corn during that period, but trade estimates predicted commodity funds had bought 15,000 corn futures. At 30,000 contracts, those estimates were also overly aggressive for soybeans, which rallied more than 3% during that week.
Read the full report at
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