Mumbai, 01 Apr (Commoditiescontrol): The latest CFTC Commitments of Traders report suggests changing sentiment within the soybean complex:
Soyoil: Managed money funds have covered all short positions and have become net long (951 lots). This is the first net buyer position since November 4th, 2023, signalling a potential bullish shift.
Soymeal: Funds reduced their short positions by 17,085 lots, indicating a lessening of bearish pressure on soy meal futures.
Soybeans: Managed money traders reduced their net short position by 13,560 lots. Though still short overall, this suggests a possible easing of downward pressure on soybean futures.
(By Commoditiescontrol Bureau; +91-9820130172)
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