🌽🫛🍬 BIG inflows into Corn, Soybeans, and Sugar last COT week.

Largest agriculture fund flows:
🌽 Corn: +$1.9B
🫛 Soybeans: +$2.2B
🍬 Sugar No. 11: +$1.2B

Meanwhile:
🛢️ Brent saw massive liquidation
📉 Funds kept selling Wheat🌾
📑 Trump-Xi + WASDE ahead

Funds are still aggressively leaning into the ag trade - longest since March 2022.

#agriculture #COT #macromatters

🚨 Hedge funds are now +$36.5B net long agriculture futures.

That’s the largest bullish ag bet in FOUR YEARS, within striking distance of the *record* +$40.1B peak from February 2022. 📈

Big catalysts ahead: 🌱 Trump-Xi summit, 📑 May WASDE + first new crop balance sheets, and 🛢️ Continued U.S.-Iran / Crude Oil volatility.

Crowded trades can reverse fast.

Is this the top?

#agriculture #macromatters #commodities

📈 Risk-On, Dollar Down, Ags Up! 🌽

Record-high stock markets and a weak U.S. dollar - down for seven consecutive sessions - have boosted #agriculture markets this week as investors hope for a sustained U.S.-Iran ceasefire.

#MacroMatters

Commodity prices climbed again in November. 🌱📈

The Bloomberg Commodity Index - a diversified basket of agriculture, energy, and metals futures contracts - rose +2.9% ... following October's strong +4.9% gain.

#inflation #macromatters #markets