SPECULATORS’ bearish Chicago corn stance has been relatively consistent since mid-March, but overall supply potential has eased since then given smaller US corn plantings, questionable weather in Brazil and unprecedented disease in Argentina.
In the week ended April 9, money managers increased their net short position in Chicago Board of Trade (CBOT) corn by about 4,000 contracts to 263,554 futures and options contracts, a five-week high but little changed from the previous four weeks.
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