MarketsFarm — Fund traders covered some of their large net short positions in canola and soybeans during the week ended Tuesday, while adding to their bearish bets on corn, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC).
The net managed money short position in ICE Futures canola came in Tuesday at 68,627, a decline of about 4,500 contracts from the previous week.
Open interest in the canola market rose by 17,908 contracts, to 195,301 during the week.
At the Chicago Board of Trade the managed money net short position in soybeans was down by roughly 45,000 contracts, to 45,612 contracts as of Tuesday.
Meanwhile, the net managed money short position in corn grew by roughly 32,000 contracts, to roughly 176,643, as bearish investors continued to liquidate longs and put on new short positions.
— Phil Franz-Warkentin writes for MarketsFarm, a Glacier FarmMedia division specializing in grain and commodity market analysis and reporting.
