🌾 $27.5 billion long. 3-year highs. 8 weeks straight buying.
Hedge funds have been on a historic buying run in #agriculture markets - Iran War and Crude Oil are doing the heavy lifting. 🛢️🌾
The question now isn't if they're long ... it's how long they stay. 📈
Hedge funds have bought ag futures for EIGHT straight COT weeks - now +$27.5B, the longest since early 2023. 📈
Crude >$100, dry Plains, bullish seasonals = fuel for the bulls. 🐂
But positioning is crowded to the long side. 📊
Are we running out of buyers? 🌾
Return of the King 👑🛢️
Brent Crude Oil is back at No. 1 - the world’s most traded commodity futures market in Q1 2026. $184B traded per day.
Volatility is driving flows. Funds are active. Producers are hedging.
Crude is in the driver’s seat for the #commodity complex.
Crude Oil +43.8% in March, pulling ags along for the ride. BCOM returned +11.1% - best month in 16 years. Higher energy costs feed into fertilizers, transport, and production. Real assets are being repriced. 🛢️🌾🔥
Winners: Heating Oil (+62.5%), WTI (+51.6%), Palm Oil (+19.3%), Cocoa (+14.3%), Sugar (+11.7%). 🔥
