Column: Funds buy CBOT corn and soybeans amid poor finish to US crop
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NAPERVILLE, Illinois, Sept 4 (Reuters) – The second half of August was exceptionally dry in the U.S. Corn Belt, likely trimming yields for corn and especially soybeans due to their reliance on late-season moisture. Speculators responded by boosting their bullish Chicago soybean bets, which they have held for more than three years, and easing bearishness in corn futures.
In the week ended Aug. 29, money managers cut their net short position in CBOT corn futures and options to 87,348 contracts from 106,135 in the week before, which had been their most bearish corn view since early May.
