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Tidbits, Open Interest, Markets & Rain Days Update 04/25/2022

Highlights


Grocery stores in the United Kingdom have started to limit the sale of sunflower oil.


About half of the wheat flour millers in Kazakhstan have ceased operations due to a lack of wheat imports from Russia.


The US Secretaries of Defense and State met face to face yesterday with Ukraine’s president in a closed door meeting in Kyiv. There was no comment about what was discussed or even why they met.


 

Open Interest Explanation


Open interest is the number of contracts “on the books” at the end of a trading day. All these “open” contracts must eventually be offset with an opposite futures transaction or a delivery. OI is a very important technical factor all people who market grain should follow.


Each Friday, we report the open interest (OI) for corn, wheat, beans futures contracts and options contracts combined.


If open interest is increasing with the price going up, that means new money is coming into that market. That is important to you because there is a lot more money in the world than the money already invested in any commodity futures & options market.

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