Tidbits
The Spec funds and the Index funds were net buyers of corn, soybeans and all three classes of wheat on the Commitment of Traders Report (COT) released Friday afternoon for the reporting week ending last Tuesday.
End of the week profit-taking on long positions had everything weaker Thursday and Friday plus and pre-hedging pressure on the corn and beans. The increased rain in the forecast for Brazil also pressured beans to an extent, but rain does not mean more Brazilian beans. The start of the rainy season simply means the bean planting will begin.