Quick Update On Futures Positioning
The latest Commitments of Traders report showed basically no change from prior weeks in the major themes. "Smart money" hedgers are holding:
- Massive shorts in gold and silver
- Some short-covering in the yen but it remains near a record short position for them
- Decreasing enthusiasm for the grains, especially soybeans which is nearing a record short for hedgers
- Near-record bets against sugar
