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Funds Shed More CBOT Shorts

Focus of ag market this week will be on expectations for USDA’s next round of reports

Speculators’ optimism in Chicago-traded grains and oilseeds built further in the week ended June 18 as the U.S. corn and soybean crops are off to their latest-ever start, creating high uncertainty over production possibilities, reports Reuters.

But the market took a breather last week as CBOT corn futures hit a five-year high and traders weighed changes to U.S. weather forecasts, trying to figure out what they mean for the unprecedented growing season.

The focus of the agriculture market this week will be on expectations for the U.S. Department of Agriculture’s next round of reports that will be published on Friday.

Read the full report here.

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