Dan Flynn is the writer of The Corn & Ethanol Report, a daily market letter covering grains, energies, and various global issues that are the driving force and backbone of the commodity markets. Contact Mr. Flynn at (312) 264-4374
After Fed Williams Speech on Sunday, We start Monday with Fed Bostic Speech at 7:30 A.M., Fed Jefferson & Fed Williams Speech at 7:45 A.M., CB Leading Index MoM at 9:00 A.M., Export Inspections at 10:00 A.M., 3-Month & 6-Month Bill Auction at 10:30 A.M., Fed Logan Speech at 12:15 P.M., and Fed Kashkari Speech at 12:30 P.M.
Reuters reported that speculators sold significantly more CBOT corn than expected last week, establishing their first bearish stance on the yellow grain in nearly 7 months. However, funds massive CBOT soybean meal short combined with their bullish soybean oil bets left them with record oil optimism in relation to meal. Don’t forget soybean oil’s lock on limit down beginning on May 14th evening session It still sounds like a bet for enlarged biodiesel and ethanol grind. With the current price of corn and crude oil, ethanol margins remain in the black and revenues are promising for producers, especially with tariff ethanol exports will rise to India and the UK for starters. CBOT July corn hit seven-month lows in the week ending May 13th, easing nearly 3%. US corn planting has been moving along without a hitch, and funds have been getting short ahead of last Monday’s reports (Export Inspections & Crop Progress) from the USDA. They certainly emerged as bears from data supplies well below analysts’ expectations but up 27% from the current year. In the week ended May 13th, money managers were sellers of nearly 99,000 CBOT corn futures and options contracts, resulting in a net short in corn of 84,976 contracts. That is their first net short in corn and the most bearish view since October. This is a stark contrast from early February, when fund’s net long position hit a three-year high of 364,217 contracts. They have been net sellers of corn in 12 of the last 14 weeks since, largely driven US trade policy jitters and the anticipation of a record US corn crop. July corn futures remained steady at the end of last week, but December futures on Friday sank to five-month lows. Money managers extended their net short in CBOT wheat futures and options through May 13, to 126,985 contracts, nearly their most bearish wheat view in more than seven years, most active CBOT wheat futures on May 13 sank to their lowest levels since August 2020 as USDA pegged global wheat supplies to rise in 2026 from the current levels. July wheat futures rose 1.5% over the last three sessions as US wheat exporters made some of their largest sales in years, but traders also noted improving crop conditions.
Have A Great Trading Day!
Contact me directly with any questions or to open a trading account at 1-888-264-5665 or dflynn@pricegroup.com
Ag Bears Grasping Control as Exports Continue to Roll. The Corn & Ethanol Report 05/19/2025
After Fed Williams Speech on Sunday, We start Monday with Fed Bostic Speech at 7:30 A.M., Fed Jefferson & Fed Williams Speech at 7:45 A.M., CB Leading Index MoM at 9:00 A.M., Export Inspections at 10:00 A.M., 3-Month & 6-Month Bill Auction at 10:30 A.M., Fed Logan Speech at 12:15 P.M., and Fed Kashkari Speech at 12:30 P.M.
Reuters reported that speculators sold significantly more CBOT corn than expected last week, establishing their first bearish stance on the yellow grain in nearly 7 months. However, funds massive CBOT soybean meal short combined with their bullish soybean oil bets left them with record oil optimism in relation to meal. Don’t forget soybean oil’s lock on limit down beginning on May 14th evening session It still sounds like a bet for enlarged biodiesel and ethanol grind. With the current price of corn and crude oil, ethanol margins remain in the black and revenues are promising for producers, especially with tariff ethanol exports will rise to India and the UK for starters. CBOT July corn hit seven-month lows in the week ending May 13th, easing nearly 3%. US corn planting has been moving along without a hitch, and funds have been getting short ahead of last Monday’s reports (Export Inspections & Crop Progress) from the USDA. They certainly emerged as bears from data supplies well below analysts’ expectations but up 27% from the current year. In the week ended May 13th, money managers were sellers of nearly 99,000 CBOT corn futures and options contracts, resulting in a net short in corn of 84,976 contracts. That is their first net short in corn and the most bearish view since October. This is a stark contrast from early February, when fund’s net long position hit a three-year high of 364,217 contracts. They have been net sellers of corn in 12 of the last 14 weeks since, largely driven US trade policy jitters and the anticipation of a record US corn crop. July corn futures remained steady at the end of last week, but December futures on Friday sank to five-month lows. Money managers extended their net short in CBOT wheat futures and options through May 13, to 126,985 contracts, nearly their most bearish wheat view in more than seven years, most active CBOT wheat futures on May 13 sank to their lowest levels since August 2020 as USDA pegged global wheat supplies to rise in 2026 from the current levels. July wheat futures rose 1.5% over the last three sessions as US wheat exporters made some of their largest sales in years, but traders also noted improving crop conditions.
Have A Great Trading Day!
Contact me directly with any questions or to open a trading account at 1-888-264-5665 or dflynn@pricegroup.com
Thanks,
Dan Flynn
Questions? Ask Dan Flynn today at 312-264-4374