Record large short position grows in canola

CBOT net short position on soybeans more than doubled

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Published: January 22, 2024

Photo: Canstock

Glacier FarmMedia – The record large net short position in ICE Futures canola continued to rise in mid-January, as fund traders put on more bearish bets and liquidated long positions, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).

As of Jan. 16, 2024, the net managed money short position in canola futures came in at 132,882 (4,270 long/137,152 short), which was up by about 12,000 from the previous week.

Open interest in the canola market came in at 263,342 contracts, which was up by 14,443 on the week.

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At the Chicago Board of Trade, a combination of long liquidating and new shorts saw the net short position in soybeans more than double on the week at about 78,800 contracts.

Meanwhile, the net short position in corn grew by about 34,000 contracts on the week to come in at roughly 271,650 contracts.

In wheat, the Chicago soft wheat market reported a net short position of about 76,800 contracts. The net short in Kansas City hard red winter wheat came in at roughly 38,100 contracts. In Minneapolis spring wheat, managed money traders were holding a net short of around 29,800 contracts.

Phil Franz-Warkentin is an associate editor/analyst with MarketsFarm in Winnipeg. 

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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