MarketsFarm — Fund traders were busy liquidating some of their long positions in canola and soybeans during the week ended Tuesday, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC).
Managed money fund traders as of Tuesday were holding a net long position in ICE Futures canola of 55,136 contracts (57,814 long/2,678 short), down by about 6,800 contracts on the week.
Open interest in the canola market rose by about 7,000 contracts on the week, coming in at 204,708 contracts.
At the Chicago Board of Trade the managed money net long position in soybeans was down by nearly 20,000 contracts, at around 204,000.
Meanwhile, the corn market saw its net long position rise by 11,500 contracts, to around 270,400.
In wheat, Minneapolis spring wheat saw its net long edge down slightly, to roughly 7,200 contracts. The Chicago soft wheat net long position was up by about 1,000, at 47,200 contracts. Kansas City hard red winter wheat posted a net long of about 45,160 contracts, up about 5,000 on the back of short-covering and new longs being put on.
— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.