10/19/26 Funds Need Reason to Flip Buy Switch Back On

10/19/2026 Click Above to Watch the Morning Market Talk Video Funds Need Reason to Flip Buy Switch Back On On the Grains Wheat markets firmed a little overnight, while corn and soybeans pivoted around unchanged in quiet trade. Fresh market-moving news remains limited, technical trade and money flow will be key during daytime trade to open the week. Traders brushed aside last week’s aggressive Chinese soybean purchases as harvest pressure, technical selling and money flow dominated price action. Key for the new week is whether funds remain in liquidation mode or return as buyers. They likely need a fundamental reason to flip on the buy switch. As of Oct. 13, funds liquidated more length across the grain and soy markets, reducing their net long position to 783,174 futures contracts and 757,717 futures and options positions. Two noteworthy developments. 1) The futures and options position was smaller than the futures only position. 2) The corn long position was smaller than soybeans for the reporting period. Of note: The reporting period didn’t include the final three days last week during which November soybeans fell 22 1/2 cents and December corn dropped 8 cents. Geopolitically, Russia and Ukraine continue to attack each other…