MarketsFarm — The speculative net short position in ICE Futures canola grew during the week ended Tuesday, as fund traders liquidated long positions and opened some new shorts, according to the latest Commitment of Traders (CoT) report compiled by the U.S. Commodity Futures Trading Commission (CFTC).
The net managed money short position in ICE Futures canola came in at 7,817 contracts on Tuesday (7,664 long/15,505 short), an increase of about 1,800 from the previous week.
Managed money traders had been sitting on a net long position for roughly two years before the balance shifted to the short side over the past month.
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Open interest in the canola market moved higher during the week, increasing by about 1,500 contracts at 130,809.
At the Chicago Board of Trade fund traders continued to reduce their net long position in soybeans, taking it to about 83,000 contracts.
The corn managed money net long position fell by roughly 25,000 contracts, to about 103,300.
In wheat, the Chicago soft wheat market reported a net short position of about 11,500 contracts, with fund traders adding both short and long positions during the week. The net long position in Kansas City wheat was down by about 4,500 contracts at 11,800. The net long position in Minneapolis held steady at just over 1,000 contracts.
— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.
