This is a sample entry from Tom Dosdall’s newsletter, Technical Ag Knowledge, published on Friday, July 14, 2017.
WOW that was a HUGE one week swing to the long side in both Corn AND Soybeans (as of the close Tuesday, July 11).
Net change of +147,679 in one week for corn was the 2nd biggest weekly short covering ever (biggest was 6/30/2015). Net change of +89,264 in one week for soybeans was the biggest ever one week change by FAR.
Knowing the funds were that long heading into the WASDE should help to better illustrate how such a beating like Wednesday/Thursday can happen. Without continued bullish news (WASDE data and weather) funds can pull out just as quickly as they got in.
Here are your net managed money positions as of the Tuesday close. Net change in (parentheses). Stay safe and smart out there!
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