🚨BREAKING
CFTC CoT (Dec 2-9 data, released Dec 19):
• Ags: Corn MM long; SRW wheat MM short
• Energy: P/M short hedging; MM long
• NatGas: Huge OI; Swap Dealers heavy short; MM long
• Electricity: MM activity again NOT minimal
• Metals: Gold MM long; Copper OR short
Compared with the prior update, grain positioning shows stability rather than escalation. Managed Money exposure in corn remains net long but without a broad expansion across the complex, while SRW wheat stays net short, reinforcing that speculative interest is still selective and contract-specific, not trend-wide. Commercial