Commitment of Traders

Commitment of Traders

Corn funds added 43,000 new longs and covered 41,000 shorts in the week ending August 18, pushing managed money to net long 250,505. Sugar covered another 54,000 shorts and added 38,000 new longs for the second straight week of 90,000 plus net change, now net long 151,349. Soybeans added 29,000 new longs and covered 21,000 shorts to reach net long 151,662. T note leveraged funds added 90,000 new shorts, partially offset by 41,000 new longs, widening the net short to 2,172,277.

Corn at net long 250,000 is being built from both sides of the book simultaneously, not just shorts getting squeezed. The S&P had 38,000 longs liquidated and 34,000 shorts covered in the same week, leaving the net barely changed at short 259,000. Nasdaq reversed from last week’s long liquidation and covered 17,000 shorts. Nat gas funds added 17,000 new longs for the second straight week, pulling the net short below 100,000 for the first time in this data. Lean hogs added 8,000 new shorts to push the net to short 23,000.