Speculators reduced activity due to market uncertainty

2018-03-27 12:11:41
Machine translation
Speculators reduced activity due to market uncertainty

Adverse weather conditions and possible consequences of a trade war between the US and China forced hedge funds to reduce the number of long positions on futures contracts for soybeans and corn.

 

Published on Friday CFTC data showed that the number of long positions in corn dropped to 10 thousand lots, while short positions rose in the same range, in order to reduce net length to 213231 agreement – 19832 lot.

 

a Similar dynamic had soybean futures: long positions decreased by 11913 lots, and short increased by 765 lots, which corresponds to a week's growth of 8.4% in comparison with a low base.

 

In Chicago futures for soybean meal fell 3 $/MT 412,5 $/t, soybeans fell to 376 $/ton, oil – to 694,6 $/t

 

palm oil Prices in Kuala Lumpur remain at the level of 2434 ringgit or 625 $/t

 

Malaysia from 1 April raises export duty on crude palm oil to 5% after the for stimulate exports and reduce the huge stockpiles of previously it lowered from 6% to 0%.

 

on Monday futures on corn dropped to 147,5 $/t on the report data, USA Export Inspections on the reduction during the week of corn exports by 19.82% to 1,154 million tonnes, which is by 26.49% lower than in the corresponding week of last year.

 

the Bloomberg Survey indicates that market participants expect the new USDA report to see the remains of corn at 8,711 billion bushels, but the estimate of acreage under corn in the range of 89.5 million acres.

 

Recall that in response to the introduction of trump duty on steel and aluminium, China has established a 45% import duty on U.S. ethanol.