Markets Extra

Hedge fund positions in numbers, for week to November 5

Markets Extra10 Nov 2019by Markets Extra

Below, details of the shifts in managed money positioning in US-traded agricultural commodities, in the week to Tuesday November 5.

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

A breakdown of the previous week’s data is available by clicking here.

Hedge funds’ net positioning in grains and oilseeds
Contract	Net long position (contracts)	Week-on-week change (contracts)
Chicago soyoil	84,643	+9,290
Chicago soybeans	58,429	-13,896
Chicago wheat	-654	-5,696
Kansas City wheat	-33,929	-4,540
Chicago soymeal	-37,554	-8,504
Chicago corn	-104,846	-19,509

Hedge funds’ net positioning in New York-traded soft commodities
Contract	Net long position (contracts)	Week-on-week change
Cocoa	34,251	+5,517
Cotton	-15,247	-9,149
Arabica coffee	-40,715	+17,700
Raw sugar	-216,735	+5,913

Hedge funds’ net positioning in Chicago-traded livestock
Contract	Net long position (contracts)	Week-on-week change (contracts)
Live cattle	60,829	+20,362
Lean hogs	13,258	-582
Feeder cattle	91	+731

Hedge funds’ net positioning, by sector
Contract	Net long position (contracts)	Week-on-week change (contracts)
Livestock	74,178	+20,511
Grain and oilseeds	-33,911	-42,855
Soft commodities	-238,446	+19,981
Overall position	-198,179	-2,363

* = most extreme 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