MacroVoices · Thursday, October 29, 2026
Patrick Ceresna notes that the USDA raised its corn production forecast to 234 million bushels, leading to significant long liquidation and shorting among traders as the bullish scarcity narrative cools.
“the USDA corn production forecast was raised to 234 million bushels. It's a higher yield, less support of the bullish scarcity story.”
“So we saw roughly 166,000 net contracts sold over the last two weeks, both long liquidation and fresh shorting.”