Replying to 

@kannbwx

This is interesting, though. Funds were massively short #corn in June but mildly long #soybeans. Funds are more than massively long corn now and long beans. The relative view is quite different now than nearly a year ago. Now vs. prior years on the same date is quite remarkable.

@kannbwx

Money managers were thought to have been RECORD long CBOT #corn futures & options as of Tuesday. The buying fell well short of expectations but funds' long pushed over 400k for the first time since January 2011, reaching 401,993 contracts as of April 13.

@kannbwx

CBOT #soybeans struggled to rally in 2019 despite a much smaller U.S. crop due to the trade war with #China and uncertainty over African swine fever, which had decimated China's hog herd and reduced feed demand. The U.S. soybean market is very heavily reliant on Chinese demand.

Replying to 

@kannbwx

Managed money record net short in #soybeans came a couple weeks later in May 2019 at 168,835 fut+opt contracts. Soybeans didn't really benefit from the 2019 planting delays. The most-active contract never even broke $9.50 in 2019 until late December.