Silly me, I was thinking the March position report was due out tonight, it was actually released last night.
Shipments up 11.7% year to date with Californian export commitments down on the same time last year. Presumably this reduction is due to the Trump trade war talks.
Overall though with the higher shipments ytd and US domestic demand uncommitted inventory is still less than at the same time as last year.
As I have been overweight in SHV since the last raising I took today’s rise as an opportunity to return to a weighting that is more fitting with my circumstances/requirements. I was waiting for the March update before selling so nearly didn’t sell today.
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