#COT, wk to Oct 6 – Managed Money net
🚦 = long liquidation risk
🔴 #Corn 330k (-51k, 3rd wk selling)
🟡 #Soymeal 205k (-2k, near 52w high)
🟡 #Soybeans 258k (+12k)
🟢 SRW #wheat -29k (-7k, 5th wk selling)
Corn -85k from Sep 15 peak; producers +45k. COT predates #WASDE.

📅 Ag Calendar Watch

Sep 30: Grain Stocks (USDA) — sets the base before Oct's yield call 🟡

Oct 9, 12ET: WASDE — first firm new-crop corn/soy yields, tests if USDA cuts EU corn like COCERAL/IGC did 🔴

Funds sit near 52w extremes — no neutral reaction here.

#WASDE #USDA

🌾 #wheat: rethinking the Sep #WASDE
📊 276.3 Mt world stocks
🔒 149.7 Mt locked in 🇨🇳🇮🇳 (54%)
⚓ 22.2 Mt stuck in 🇷🇺🇺🇦, exports cut again
✅ 44.3 Mt carryout in 🇺🇸🇪🇺🇨🇦🇦🇺🇦🇷
📉 down from 60.1 Mt last season
📊 stocks-to-use back to 21/22 lows
💵 $6.40/bu, 3yr high

📊 #CFTC COT 8 Sep — 3 days before #WASDE

Managed money net long, w/w change

🌽 #Corn 414,459 🟢 +13,456
🌱 #Soybeans 257,258 🟢 +22,338
🟫 #Soymeal 157,689 🟢 +510
🌾 #Wheat 4,873 🔴 −10,031

📌 Corn, soy, meal all at 52w highs