Column: Funds Continue Record Corn Sell-Off, Turn Bearish For First Time Since 2020

Mar 24, 2023

By Karen Braun

Speculators have drastically shifted their stance in Chicago-traded corn within the last month, selling much more heavily than expected and finally establishing a net short position last week.

The U.S. Commodity Futures Trading Commission on Tuesday afternoon published its Commitments of Traders (CoT) report for the week ended March 14. CoT data has been on delayed release for over a month, but it will be current on Friday if CFTC makes its regularly scheduled publication.

Money managers were net sellers of more than 75,000 CBOT corn futures and options contracts in the week ended March 14, establishing a net short of 54,134 contracts, their first bearish stance since August 2020.

Funds had held a net long of 215,928 corn futures and options contracts on Feb. 21, but they have actively added gross shorts and exited gross longs ever since, resulting in a record three-week sell-off of more than 270,000 contracts on the net – equivalent to 1.35 billion bushels.

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Video: Why Port Infrastructure is Key to Growing Canada's Farms and Economy

Grain Farmers of Ontario (GFO) knows that strong, modern port infrastructure is vital to the success of Canada’s agriculture. When our ports grow, Ontario grain farmers and Canadian farms grow too—and when we grow, Canada grows.

In this video, we highlight the importance of investing in port infrastructure and how these investments are key to growing Ontario agriculture and supporting global trade. The footage showcases the strength of both Ontario’s farming landscapes and vital port operations, including some key visuals from HOPA Ports, which we are grateful to use in this project.

Ontario’s grain farmers rely on efficient, sustainable ports and seaway systems to move grain to markets around the world. Port investments are crucial to increasing market access, driving economic growth, and ensuring food security for all Canadians.

Why Port Infrastructure Matters:

Investing in Ports = Investing in Farms: Modernized ports support the export of Canadian grain, driving growth in agriculture.

Sustainable Growth: Learn how stronger ports reduce environmental impact while boosting economic stability.

Global Trade Opportunities: Improved port and seaway systems help farmers access new global markets for their grain.

Stronger Communities: Investment in ports means more stable jobs and economic growth for rural communities across Ontario and Canada.

We are proud to support the ongoing investment in port infrastructure and to shine a light on its vital role in feeding the world and securing a prosperous future for Canadian agriculture.

Special thanks to HOPA Ports for providing some of the stunning port footage featured in this video.