Markets Extra

Hedge fund positions in numbers, for week to May 7

Markets Extra13 May 2019by Markets Extra

Below, details of the shifts in managed money positioning in US-traded agricultural commodities, in the week to Tuesday May 7.

Data are for futures and options combined, and sourced from the Commodity Futures Trading Commission.

The previous week’s data are available here.

Hedge funds’ net positioning in grains and oilseeds
Contract	Net long position (contracts)	Week-on-week change (contracts)
Chicago soymeal	-33,135	-17,536
Kansas City wheat	-58,866*	-372
Chicago soyoil	-70,850	-12,778
Chicago wheat	-82,146	1,356
Chicago soybeans	-160,553*	-12,027
Chicago corn	-282,327	24,372

Hedge funds’ net positioning in New York-traded soft commodities
Contract	Net long position (contracts)	Week-on-week change
Cotton	-4,841	-15,088
Cocoa	-10,091	1,715
Raw sugar	-102,408	-49,980
Arabica coffee	-80,772	-7,468

Hedge funds’ net positioning in Chicago-traded livestock
Contract	Net long position (contracts)	Week-on-week change (contracts)
Live cattle	104,701	-24,881
Lean hogs	58,917	-817
Feeder cattle	-175	-3,653

Hedge funds’ net positioning, by sector
Contract	Net long position (contracts)	Week-on-week change (contracts)
Livestock	163,443	-29,351
Soft commodities	-198,112	-70,821
Grain and oilseeds	-687,877*	-16,985
Overall position	-722,546*	-117,157

* = record large on data going back to 2006

The likes of corn and wheat trade lower in closing deals of a positive week. But the vegetable oil complex, and canola, stay strong

There has been some movement at last in the new soybeans-versus-corn price ratio, seen as an influence on sowing area. Cotton stakes its claim too

UK wheat import needs to extend into early 2021-22... Cold European temperatures... "Rapeseed prices may be firm for a while"...

Monsoon rainfall is expected to total 98% of the long-term average, the Ministry of Earth Sciences says