Investors cut net long position in US corn futures by 13.2%.

Non-commercial grain market participants decreased their net long position in US corn futures to 286,650 contracts in the week that ended Tuesday, down 13.2% from a week earlier. After import tariffs by the US on Chinese goods, the market is expecting retaliation from China aimed at US agricultural products, which is driving funds to get short. This is not driven by fundamentals but by fear. Long positions rose to 655,972 contracts from 627,461, while short positions rose to 369,322 contracts from 297,422, the CFTC said in its weekly Commitments of Traders legacy report, issued after the market closed.