Edition:
International

Karen Braun

Market chaos not a guarantee in USDA's Wednesday data dump -Braun

Jan 12 2022

FORT COLLINS, Colo. (Reuters) -The U.S. Department of Agriculture on Wednesday will release its biggest data onslaught of the year, and industry analysts are expecting relatively ho-hum results, opposite of many report outcomes in the last couple years.

RPT-COLUMN-Funds open 2022 with less CBOT optimism than last year -Braun

Jan 10 2022

FORT COLLINS, Colo., Jan 9 Speculators have begun 2022 on an unusually enthusiastic note across Chicago-traded grains and oilseeds, though they were even more bullish a year ago at this time. Futures remain safely above the year-ago levels except for in soybeans and soybean meal.

COLUMN-Funds open 2022 with less CBOT optimism than last year -Braun

Jan 09 2022

FORT COLLINS, Colo., Jan 9 Speculators have begun 2022 on an unusually enthusiastic note across Chicago-traded grains and oilseeds, though they were even more bullish a year ago at this time. Futures remain safely above the year-ago levels except for in soybeans and soybean meal.

COLUMN-Funds snatch up CBOT soybeans as South America dries out -Braun

Jan 03 2022

FORT COLLINS, Colo., Jan 3 Speculators in the last two weeks of 2021 staged their largest soybean buying streak in well over a year as dry South American weather sent Chicago futures to five-month highs. That follows countless weeks of perhaps forced bullishness in the oilseed as investors increased their appetite for corn and soybean meal.

Column: Funds abandon CBOT oilshare long but buy more corn

Dec 20 2021

FORT COLLINS, Colo. End-of-year trade in Chicago grains and oilseeds can often be mundane, but that has not been the case with many contracts now at multi-year highs. Drama between the soybean products in particular had speculators on their toes last week.

COLUMN-Grain traders eye U.S. crops, China and biofuels to headline 2022 -Braun

Dec 14 2021

FORT COLLINS, Colo., Dec 14 Grain and oilseed markets in 2021 proved just as exciting as in 2020 with prices hitting multiyear highs on shrinking stockpiles. Whether those prices sustain or relax in 2022 will be partially guided by some of the industry mainstays.

COLUMN-Funds pause CBOT optimism but remain captivated by corn -Braun

Dec 12 2021

FORT COLLINS, Colo., Dec 12 Speculators were thought to have started off the month as modest buyers of Chicago grains and oilseeds while futures clawed back from a virus-fueled selloff, but corn was the only true beneficiary as funds defended near-record bullish bets for the date.

Column: Steep prices trim U.S. grain, oilseed exports despite healthy demand

Dec 09 2021

FORT COLLINS, Colo. Global agriculture demand has been respectable even as shrinking supplies have pushed prices to multiyear or even record highs, but the recent shortfalls in some key U.S. exports are a prime example of how U.S. products have been frequently priced out of the market when costs soar.

Grain investors race for the exits amid fresh virus panic -Braun

Dec 06 2021

FORT COLLINS, Colo. (Reuters) -An abrupt commodity selloff right after the Thanksgiving holiday had speculators and especially index traders dumping their positions in Chicago grains and oilseeds, but market participants retain relatively bullish views after an uptick late last week.

COLUMN-Grain investors race for the exits amid fresh virus panic -Braun

Dec 05 2021

(The opinions expressed here are those of the author, a market analyst for Reuters.) By Karen Braun FORT COLLINS, Colo., Dec 5 An abrupt commodity selloff right after the Thanksgiving holiday had speculators and especially index traders dumping their positions in Chicago grains and oilseeds, but market participants retain relatively bullish views after an uptick late last week. Fears surrounding a new coronavirus variant rattled both grain and outside markets just over a week ago, and that was immediately after traders had piled into CBOT grains, largely as a hedge against escalating inflation. In the week ended Nov. 30, commodity index traders dumped more than 154,000 CBOT wheat and corn futures and options contracts, including both longs and shorts. That is a record for a single week and represented a 17% reduction in the total corn and wheat positions. Money managers were also relatively big sellers of CBOT corn futures and options through Nov. 30, as their net long fell by more than 51,000 to 315,269 contracts. That was their second biggest corn selling week of 2021 following the week ended May 11. That is according to data published Friday afternoon by the U.S. Commodity Futures Trading Commission. The week ended Nov. 30 had only four days due to the U.S. Thanksgiving holiday, and trade was volatile on the days before and after. Speculative selling in corn futures had been pegged around 45,000 contracts for the week, though Chicago wheat selling was presumed to have hit 55,000 contracts, and that would have put money managers in their most bearish wheat position since June 2020. However, a genuinely bullish story in global wheat fundamentals may have prevented funds from taking the plunge. Money managers through Nov. 30 reduced their net long in CBOT wheat futures and options to 6,200 contracts, a decline of less than 12,000. CBOT wheat futures hit nine-year highs the Wednesday before Thanksgiving, but for the week ended Nov. 30, March futures lost 9.3%. March corn was down 3.5% that week, and crude oil tanked 13% on the Friday after Thanksgiving over virus panic. Markets are still assessing the impact of the newly identified variant on the global economy, though the gains across CBOT futures late last week likely signaled that the initial selloff was overdone. March corn rose nearly 3% between Wednesday and Friday and March wheat was up 2%, and commodity funds were pegged as moderate buyers of the grains. The soy complex was hit hard in the week ended Nov. 30, but the oilseeds staged a bigger comeback than the grains between Wednesday and Friday. Most-active soybeans rose 4.1% and funds are thought to have bought 24,500 futures contracts. The selling in soybeans through Nov. 30 was less than half of what estimates suggested. Money managers cut their net long to 33,425 soybean futures and options contracts from 49,356 in the prior week. Index traders cut soybean positions by less than 6% during the week, though the combined number of outright longs and shorts reached the lowest levels in more than two years. Open interest in soybeans fell 4% for the week compared with 20% and 23% respective declines in corn and wheat. Money managers sold about 18,000 soybean oil futures and options contracts through Nov. 30, their biggest weekly round of selling since January. That pared their net long to 64,360 contracts, a nine-week low. They sold nearly 16,000 soybean meal contracts, reducing their net long to 37,681 futures and options contracts as of Nov. 30. Most-active soybean meal futures jumped 4.9% over the last three sessions and soybean oil gained 3.6%. (Editing by Diane Craft)

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