Fresh Tender News Buoys Markets

CHICAGO - Aug 18/08 - SNS -- International agriculture commodity markets started the week's trading on a relatively busy note, helped by fresh tender news from Jordan.

Friday's Commitments of Traders Report for the week ending August 12 showed another week of large-scale net selling by funds, reports analysts at the Chicago Board of Trade (CBOT), "which has become a long term trend in corn. Trend-following funds were net sellers of 15,335 contracts to reduce their net long position to 61,981 contracts, while index funds were net sellers of 12,520. Small traders were net buyers of 11,239 contracts to reduce their net short position."

For soybeans, the Commitments of Traders Report showed "funds were large net sellers in soybeans and trend-following funds were net sellers in oil. note CBOT analysts.

"In soybeans, trend-following funds were net sellers of 11,657 contracts, which drops their net long position to 38,882. Index funds were nets sellers of 6,711 contracts in soybeans, while small traders were very small net buyers. In oil, trend-following funds were net sellers of 8,633 contracts to increase their net short position to 9,795. Index funds were net buyers of 3,844 contracts in oil, while small traders were very small net buyers. In meal, large non-commercial traders were net sellers of 4,253, while small traders were very small net sellers."

For wheat, CBOT analysts said the Commitments of Traders Report "showed that trend-following funds were net buyers of 2,229 contracts to decrease their net short position to 22,830. Index funds were net buyers of just 212 and small traders were net buyers of 415."

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