Funds move to large net long position in canola

First net long since 2023

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Published: February 18, 2025

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Glacier FarmMedia | MarketsFarm — Speculative fund traders moved to a net long position in canola for the first time in one-and-a-half years, as they covered short positions and put on fresh bullish bets in early February, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).

The net managed money long position in canola futures came in at 43,434 contracts as of Feb. 11 (85,382 long/41,948 short) — a swing of roughly 51,000 contracts from the previous week’s net short position. Open interest in the canola market increased by 1,583 on the week at 263,828 contracts.

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At the Chicago Board of Trade, the net long position in soybeans fell by about 30,000 contracts, to come in at roughly 42,200 contracts. Meanwhile, the net long position in soyoil was up by about 5,500 contracts, at just under 50,000.

The net long position in corn was down by about 35,000 contracts to come in at roughly 326,200

In wheat, the Chicago soft wheat market reported a net short position of 74,200 contracts. The net short in Kansas City hard red winter wheat came in at roughly 29,700 contracts. In Minneapolis spring wheat, managed money traders were holding a net short of around 10,900 contracts as of Feb. 11.

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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