The total amount of Ag delivered on the COMEX for the first 10 Days of July is a record 13,903 contracts or 69.5 Million Ounces, or more than 2,000 Tonnes. That is the equivalent of 100 semi trailers (53' fully loaded).
As we know -
- Macquarie Bank took 169 tonnes or 8 semi trailers or 2 almost fully loaded 747F Boeing Jumbo's
- Goldman Sachs took 360 tonnes or 18 semi trailers, and
- Citi Group took 145 tonnes or 7 semi's.
All just for their house accounts.
Most of the rest went to clients of various banks.
The image below gives you an idea of the scale of the deliveries in 100 semi trailers. This would have taken some skilled logistics.
This is very significant. Yet what is more significant is that their are contracts up for delivery in September that total more than 10 times that delivered so far this July. You can find the delivery details month to date at the bottom of the following pdf.
https://www.cmegroup.com/delivery_reports/MetalsIssuesAndStopsYTDReport.pdf
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The total amount of Ag delivered on the COMEX for the first 10...
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