Monday, April 25, 2016

"Hedge funds buy grains at fastest rate in six years"

I'm with Albert Edwards, not sure how much more of this I can take.
Here are the May corn futures regaining half of what they lost last Thursday and Friday:
Corn is up 10'6, soybeans up 28'6.
And here's the latest, from Agrimoney:
Hedge funds ramped up their bullish bets in grains by the fastest pace in six years last week, data shows. 
Managed money, a proxy for speculators, boosted its s its net long position in futures and options in the main 13 US-traded agricultural
Speculators' net longs in New York grains, April 19 (change on week)

Chicago wheat: -88.241, (+17,922)

Kansas wheat: -13,268, (+7,087)

Corn: -30,909, (+105,796)

Soybeans: 135,410, (+35,194)

Soyoil: 92,725 (+3,716)

Soymeal: 13,136 (+19,827)

Sources:, CFTC
commodities in the week to last Tuesday, to 323,995 lots, according to data from the Commodity Futures Trading Commission (CFTC) regulator. 
This was the largest bullish move across the ag commodity complex since March last year.
Still, with the data only running up to last Tuesday, there is still a question mark over current positions, after futher volatility including a rapid sell-off on Friday. 
Grains attract fund buyingMost of the bullish action was in grains, as hedge funds ramped up their bullish bets in grain by 182,110 lots, the fastest one-week rise since the middle of 2010.
The moves left speculators were net-long on grains for the first time since October last year....

After Incredible Spike, Grain Futures Plummet