VENTURA NEWS & VIEWS
February 2nd, 2018
CBOT Factors: After last week’s bounce higher, bean oil futures ran out of steam this week, finishing 28 points lower vs last Friday’s close. Concerns over South American weather seem to have abated a bit, so the short-covering seen across the soy complex over the last few weeks seems to be over for now. While still short overall, these positions no longer appear to be burdensome, with the fund short for soybeans estimated to be around 20,000 contracts and soy oil around 16,000 contracts.
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