11/09/26 Funds’ Least Bullish Grain/Soy Position Since June

11/09/2026 Click Above to Watch the Morning Market Talk Video Funds’ Least Bullish Grain/Soy Position Since June On the Grains: Corn and soybean futures mildly favored the upside overnight. Wheat markets struggled to find buyers overnight, though they held above last week’s lows. The key market event this week will be USDA’s November crop reports on Tuesday. Typically by November most of the focus has started shifting from U.S. crop size and yield to demand – and South American production. After the shocking corn yield increase in October, however, there’s a level of supply uncertainty ahead of USDA’s Nov. 10 reports. Note: Funds will go into the reports with their least bullish stance in months, with the combined net long in grain and soy markets down to just 205,332 futures contracts; only 156,761 for futures and options combined. Funds have built a sizable net short position in the wheat markets. They were still long 8,795 corn futures, though it was a net short of 22,900 contracts when including options. That’s the first net short stance in corn since June. They remained long the soy complex, though that positions have been dramatically reduced. Following are pre-report expectations from a Reuters survey…