Glacier FarmMedia – The managed money net short position in canola futures held steady during the week ended May 21, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
As of May 21, 2024, the net managed money short position in canola futures came in at 58,310 contracts (6,963 long/65,273 short), which was up by roughly 750 contracts from the previous week.
Open interest in the canola market jumped by 13,548 contracts on the week at 260,521 contracts.
At the Chicago Board of Trade, the net short position in soybeans was down by about 14,000 contracts to come in at around 18,000 contracts. Soyoil futures also saw their net short position shrink by about 14,000 contracts at roughly 44,600 contracts.
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Meanwhile, the net short position in corn grew for the first time in over a month, coming in at about 115,650 contracts.
In wheat, the Chicago soft wheat market reported a net short position of around 26,700 contracts. The net short in Kansas City hard red winter wheat came in at roughly 16,300 contracts. In Minneapolis spring wheat, managed money traders were holding a small net long of around 4,200 contracts.
