Fund short position down in canola, beans

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Published: September 20, 2019

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(Dave Bedard photo)

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.

About the author

Phil Franz-Warkentin

Phil Franz-Warkentin

Editor - Daily News

Phil Franz-Warkentin grew up on an acreage in southern Manitoba and has reported on agriculture for over 20 years. Based in Winnipeg, his writing has appeared in publications across Canada and internationally. Phil is a trusted voice on the Prairie radio waves providing daily futures market updates. In his spare time, Phil enjoys playing music and making art.

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