Largest U.S. corn crop no match for Mother Nature. So who is selling?

Market Pulse: July 10

COT Data 

So exactly who is selling corn into the Drought of 2012? To get your answer look at the weekly chart below. In the older, less transparent Legacy report, you can see that Commercials went from 9,902 contracts net long on June 15 to -116,048 net short this past week. In the more transparent Disaggregated report Producers were net short -272,259 contracts on June 15 and Swap Dealers were net long 282,161 contracts (difference 9,902). Managed was net long 47,962 contracts on June 15 and last week were 165,210 contracts net long.

If you need help understanding how to understand how to use the NEW COT report to your benefit get instant access to my new e-book "What Lies Beneath ALL Trends". It is filled with eye opening information.Commercial Net Tracker instructions: This form tracks the Commitment of Traders (COT) data for the commodity futures market. This form "looks" at the most recent five weeks of COT data and provides visual indications of the data. A) If the current value is at a 12-month low, the cell will display a red/burgundy background. B) If the current value is at a 12-month high, the cell will display a green background. C) If the current value went from net negative to net positive, the cell will display a blue background (indicating a bullish condition). D) If the current value is both a 12-month high and also went from a net negative to a net positive, the background will be green. You should view the data with green backgrounds to determine if they also went from net negative to net positive.

Proceed to Page 3 for this week's detailed fundementals...

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