• Specs came back into the No.11 market last week, buying almost 15k lots of new longs, driving price above 15c.
  • This buying was facilitated by producers, who now have a record short position, in futures terms, of 820k lots.
  • This continued the increase in open interest in the raws market, which has risen by almost 200k lots since the start of October.
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Jack Haslam

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