Hoosier Ag Today by: Hoosier Ag Today
Hedge funds and commodity traders have poured money into the U.S. grain markets of late, pushing up open interest, volume and prices in a sector that had previously seen limited action due to hefty supplies. While the inventory outlook has not changed, a drop in the U.S. dollar index and rise in crude oil futures have brought traders back to the U.S. grain markets.
Open interest in soybean futures climbed to an all-time high of 860,000 contracts last Wednesday, a 23 percent surge from the month prior. Also, last Wednesday, trading volume in corn and soybeans hit their highest level ever.
Source: NAFB News Service
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