Teucrium Soybean Fund

Big Short Traders have been offloading Soybeans since November, peaking last week, as global stockpiles grow. As of Friday, traders had increased their bearish stance on CBOT (Chicago Board of Trade) soybean futures and options, reaching a new record net short position of 171,999 contracts, up from 160,653 the previous week. This surpasses the previous all-time high net short of 168,835 contracts from May of 2019. Chinese Demand China plays a pivotal role as the leading global soybean market, importing 60% of all internationally traded soybeans and around 30% of annual U.S. soybean production. Changes in its soybean needs have a huge impact on the US market. The long slide soybean prices have experienced is largely tied to ...Full story available on Benzinga.com

Related tickers: SOYB.

Big Purchase Between October and mid-December 2023, China purchased a massive amount of wheat, totaling 60 million bushels. This included a record-breaking weekly total of 55 million bushels. This unexpected development occurred when U.S. wheat prices had recently hit multi-year lows. Despite initial indications of a record-low year for U.S. wheat exports in 2023/24, China’s sudden purchases are expected to improve prospects in the face of strong competition from other exporting nations. Why Now? China, dealing with issues of wheat quality due to untimely rains during harvest season, is projected to be the top global wheat importer in 2023/24. This has led to increased global demand for affordable wheat.  Price Action  Market players ...Full story available on Benzinga.com

Related tickers: SOYB, WEAT.