Net short position climbs in canola

MarketsFarm — The large speculative short position in ICE Futures canola contracts widened the week ended Tuesday, as speculators added to their bearish bets on the market, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC).

Managed money and other reportable speculators on Tuesday had a net short position of 68,362 contracts, an increase of about 10,000 from the previous week, according to the report.

Open interest in the canola market declined by roughly 9,000 contracts, to 168,023, during the week.

At the Chicago Board of Trade the net speculative short position in soybeans rose to 118,335 contracts, from 86,500 the previous week.

— Phil Franz-Warkentin writes for MarketsFarm, a Glacier FarmMedia division specializing in grain and commodity market analysis and reporting.

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