Little bit of a mixed bag last week in regards to the funds and their positions in the grains. Sellers in the corn and the CHI Wheat While buyers in the Soybeans. Buyers across the board in the livestock, pushing to new highs for 2022 in both the Lean Hogs and Live Cattle.

Corn

• Last week the funds sold 35,219 contracts leaving their position at 337,332
• 10 Year Max Short (322,215) 10 Year Max Long 429,189
• 2022 Min Long 326,523 (1/18/22) 2022 Max Long 372,551 (2/1/22)

Soybeans

• Last week funds bought 11,827 brining positions to 166,315
• 10 Year Max Short (168,835) 10 Year Max Long 253,889
• 2022 Min Long 98,919 (1/4/22) 2022 Max Long 166,315 (2/8/22)

Chicago Wheat

• Last week funds sold 3,100 CHI Wheat landing their position at (29,552)
• 10 Year Max Short (162,327) 10 Year Max Long 80,827
• 2022 Max Short (29,552) (2/8/22) 2022 Min Short (13,427) (1/25/22)

Live Cattle

• Funds added 12,750 Live cattle last week, bringing position to 81,842
• 10 Year Max Short (47,428) 10 Year Max Long 108,778
• 2022 Min Long 49,321 (1/25/22) 2022 Max Long 81,842 (2/8/22)

Lean Hogs

• Funds tacked on 8,704 Lean Hogs last week brining their position to 78,672
• 10 Year Max Short (47,428) 10 Year Max Long 108,778
• 2022 Min Long 48,795 (1/18/22) 2022 Max Long 78,672 (2/8/22)

To me it would appear that the funds are a little unsure about their next move in the grains. They are carrying a strong position currently, but not sure if they want to continue to push. In the Livestock it seems that they have a little more room to add in the cattle and the hogs they still have some room to add if they would like to test their 10 year highs.

Looking to Trade or Hedge Commodities?  Please reach out and let’s chat…

David Ericson

712.435.7402

david@agoptimus.com

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