Grain Express 6/13/22
Posted: June 13, 2022, 8:15 a.m.
Corn (July)
Fundamentals: Outside markets are under significant pressure this morning, but corn futures have so far been able to brush that off. Hot and dry forecasts have some market participants concerned, keep in mind that hot and dry forecasts are not abnormal for this time of year. The weekly crop progress report will be out after the close. Corn is expected to be just shy of 100% planted. 100% of what will continue to be the ongoing debate. Good/Excellent ratings are expected to come in near 73%. Last year at this time the crop was rated 68% G/E.
Commitments of Traders Update: Friday’s CoT report showed Managed Money were net sellers of 7,108 futures/options contracts, through June 7th. This shrinks their net long position to 239,592. Broken down, that is 307,876 longs VS 68,284 shorts.
Below is a 10-year chart of the CoT.
The RED line is Commercials, consisting of Producer/Merchant/Processor/User and Swap Dealers
The BLUE line is Small Speculators
The GREEN line is Non-Commercials or Large Speculators, consisting of Managed Money and Other Reportables
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Soybeans (July)
Fundamentals: Soybeans are under pressure to start the week, along with many other commodities and markets as last week's outside market turmoil has poured into this week's trade. This afternoon's Crop Progress report is expected to show the U.S. soybean crop near 90% planted. Good/Excellent conditions are expected to come in near 70%. Last year at this time the crop was rated 62% G/E.
Commitments of Traders Update: Friday’s CoT report showed Managed Money were net sellers of 6,505 futures/options contracts, through June 7th. This shrinks their net long position to 153,654. Broken down, that is 168,458 longs VS 14,804 shorts.
Below is a 10-year chart of the CoT.
The RED line is Commercials, consisting of Producer/Merchant/Processor/User and Swap Dealers
The BLUE line is Small Speculators
The GREEN line is Non-Commercials or Large Speculators, consisting of Managed Money and Other Reportables
Technicals Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
Levels Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
Wheat (July)
Commitments of Traders Update: Friday’s CoT report showed Managed Money were net sellers of 2,905 futures/options contracts, through June 7th. This shrinks their net long position to 13,774. Broken down, that is 82,385 longs VS 68,611 shorts.
Below is a 10-year chart of the CoT.
The RED line is Commercials, consisting of Producer/Merchant/Processor/User and Swap Dealers
The BLUE line is Small Speculators
The GREEN line is Non-Commercials or Large Speculators, consisting of Managed Money and Other Reportables
Technicals Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
Levels Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
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Futures trading involves a substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
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