Investors kept building their bearish position in US corn futures: CFTC


Non-commercial grain market participants strengthened their net short positions in corn futures in the week ended Tuesday, finishing the period barely net short 46,070 contracts, a 31.53% rose from 35,026 contracts net long a week earlier, the US Commodity Futures Trading Commission said Friday.

From September 23 through Tuesday, long positions slightly rose to 359,963 contracts from 357,923, while short positions rose to 406,033 contracts from 392,949, the CFTC said in its weekly Commitments of Traders legacy report, issued after the market closed.

Non-commercial market participants are large institutional investors, hedge funds and other entities trading in the futures market for investment. They are typically not involved directly in the production, distribution or management of the underlying commodity.

CBOT December corn futures settled 7.5 cents higher at $3.3675/bushel Friday.

Corn is the main source of US-produced ethanol.


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