Wheat

Managed money positions in wheat moved to an increasingly bearish position last week, increasing the number of short positions held to over 100k, the largest number held since June 2020. Ukraine is still making headlines, but Black Sea wheat continues to drift lower.

Read more in the weekly grain market report

Corn

Last week Managed Money cut back on their bullish stance toward corn, trimming the number of long positions to 363.6k, while increasing the number of short positions to the largest number held since last October.

Soy

While bullish positions in grains were trimmed, Managed Money took an increasingly bullish stance toward soybeans and oilseeds last week. Brazilian yields and production estimates continuing to push markets higher. At 183k long contracts held, this is the most bullish Managed Money have been toward soybeans since December 2020.