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Investors continue to increase bullish position in US corn futures: CFTC

Houston (Platts)--2 Mar 2018 508 pm EST/2208 GMT


Non-commercial grain market participants increased their net long position in US corn futures to 214,492 contracts in the week ended Tuesday, up from 165,932 contracts a week earlier, the US Commodity Futures Trading Commission said Friday.

Long positions rose to 507,477 contracts from 495,901, while short positions dropped to 292,985 contracts from 329,969, the CFTC said in its weekly Commitments of Traders legacy report, issued after the market closed.

CBOT March corn futures rose 5 cents to $3.7050/bushel for the reporting week ended Tuesday.

CBOT March corn futures settled 1.5 cents lower at $3.7725/bu Friday.

Non-commercial market participants are large institutional investors, hedge funds and other entities trading in the futures market for investment. They are typically not involved directly in the production, distribution or management of the underlying commodity.

Corn is the main source of US-produced ethanol.

--Sergio Alvarado, sergio.alvarado@spglobal.com
--Edited by Derek Sands, derek.sands@spglobal.com

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