Grain Express 05/23/22
Posted: May 23, 2022, 8:05 a.m.
Corn (July)
Fundamentals: Commitments of Traders: Friday’s CoT report showed Managed Money were net buyers of 1,149 futures/options contracts, expanding their net long position to 339,711 futures/options contracts. Broken down that is 386,154 longs VS 46,443 shorts.
Corn futures are finding moderate strength as we start a new week of trade. Crop Progress will be out after the close, analysts are expecting the U.S. corn crop to be 65% planted.
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Soybeans (July)
Fundamentals: Commitments of Traders: Friday’s CoT report showed Managed Money were net buyers of 16,674 futures/options contracts, expanding their net long position to 147,335 futures/options contracts. Broken down that is 163,464 longs VS 16,129 shorts.
Soybean futures are higher to start a new week of trade. Crop Progress will be out after the close, analysts are expecting the U.S. soybean crop to be 49% planted.
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Wheat (July)
Fundamentals: Friday’s CoT report showed Managed Money were net buyers of 11,038 futures/options contracts, expanding their net long position to 26,586 futures/options contracts. Broken down that is 97,063 longs VS 70,477 shorts.
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