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But we saved everything 🙂.
Mike McGlone, industry influencer, highlights that hedge funds, operating as managed money, held net-long positions in grains at about 17 percent of futures open interest on May 4. This marks the highest optimism for grain price increases since June 2022, potentially increasing the risk of liquidation.
Earlier analysis from McGlone noted that corn prices rebounded near $5 a bushel as crude oil reached $120. He suggested that low prices may not resolve the existing surplus in corn. In a separate report, McGlone observed that volatility in gold and crude oil could become relevant for the stock market by 2026.