Sometimes the COT reports don’t tell us much, but when large speculators and commercial entities are at extreme odds with one another, that can lead to an aggressive unwinding which leads to fast and large price movements. We have seen this unwinding begin recently in corn, soybeans, soybean meal, wheat, and cotton. Hogs look set to follow suit.
For more details and analysis on how we’re reading these reports, subscribers can head to each commodity page.
