The net fund short position in canola grew in mid-September, as speculative selling took the futures to contract lows, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
Hard red spring wheat bids in Western Canada moved lower during the week ended Sept. 19, as losses in the United States futures and seasonal harvest pressure weighed on values.
Chicago corn and wheat futures ticked down on Thursday following lackluster export sales data released by the U.S. Department of Agriculture. Soybeans were dragged along for the ride despite more encouraging numbers, said analysts.
Soybean futures climbed on Wednesday on a round of short covering sparked by concerns over hot, dry weather in top producer Brazil that may threaten soybean seeding, traders said.
Chicago wheat futures eased on Tuesday as geopolitical tensions between Russia and Ukraine faded into the background and brisk exports of Black Sea wheat continued to pose tough competition to U.S. wheat exports, traders said.
Chicago wheat futures dipped from three-month highs on Monday on profit taking following the previous week's rally sparked by crop concerns in Europe and escalating tensions between Russia and Ukraine, traders said.
Hot and dry weather saw crop conditions decline across much of Western Canada over the past month, with the latest model-based production estimates from Statistics Canada showing downward revisions in both canola and wheat production from the August report.
Chicago Board of Trade wheat futures reached a 12-week high on Friday as escalating tensions in Russia's war with Ukraine increased uncertainty about Black Sea exports.