Recent Commitments of Traders data from the Commodity Futures Trading Commission suggests that speculators, including the big “fund” traders, are becoming more interested in playing the long sides of the grain futures markets.
For several weeks now, I have said I believe the grain futures markets may be the next metals futures market, in terms of major rallies driving prices to historically high levels. The precious metals markets at present are a “tired trade,” meaning it’s very likely the vast majority of their bull market runs have already occurred, and the smart money is looking to invest in another sector. Let’s take a look at how the individual grain markets are performing, at present.
