Money managers are holding the highest number of short positions in US corn on record, as the outlook for more abundant supplies and lacklustre demand weigh on prices.
Money managers increased their short-only holdings in Chicago corn futures and options to 507,901 contracts, surpassing the previous record of 506,000 contracts seen in 2019.
The investors’ net position, which accounts for the difference in long and short holdings, was net-bearish by 353,983 contracts, also the biggest in records going back to 2006.
Chart: Bloomberg
