Corn and Hogs at their COT extremes

Looking at Friday's CFTC data we can see that corn has continued to accumulate a large net short position from managed money.

Today's USDA release will give an insight into predicted ending stocks and with much of the money already positioned in the bear camp and expecting a jump stocks, it will be interesting to see just who is left to add to the short's camp.

Similarly lean hogs are still trading at an extreme net long position based on the most recent set of data.

I've been keeping an eye on this one as I currently have two spreads that will benefit from a fall in hogs prices.

Interestingly our spreads both held up quite well given the addition of more than 7000 new net long positions over the course of the week.