Column: Funds abandon brief bullish stint in CBOT corn ahead of USDA data
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NAPERVILLE, Illinois, Aug 13 (Reuters) – Speculators have held relatively neutral but oscillating views in Chicago traded corn throughout the current U.S. growing season as unusual weather patterns have increased production uncertainty.
However, U.S. corn demand remains slow, and largely favorable weather so far this month has lured bears back into the yellow grain.
In the week ended Aug. 8, money managers established a net short position in CBOT corn futures and options of 26,656 contracts compared with the previous week’s net long of 16,741 contracts. That marked an unusual fourth time so far this calendar year that funds flipped bullish-to-bearish in corn.
