Commitment of Traders as of Nov 23rd:
Wheat S 22,117 marginally shorter than previous week.
Corn L 336,111 43K weak longs left the market.
Beans L 162,911 gained 2,500 longs.
Oil L 46, 370 lost 7000 longs.
Meal L 40,373 gained 1,000 longs.
Going back to the obvious differential between wheat and corn you can see why I like the relationship value of wheat at current levels.
—Matt Pierce
