MarketsFarm — The speculative net short position in the ICE Futures canola market grew during the week ended Tuesday, as fund traders added more bearish bets, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC).
The net managed money short position in ICE Futures canola came in Tuesday at 24,164 contracts (4,846 long/29,010 short), an increase of about 2,900 from the previous week.
Open interest in the canola market moved higher during the week, increasing by about 7,000 contracts at 187,437.
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At the Chicago Board of Trade fund traders were still holding onto a net long position, but liquidation during the week saw it come down by about 4,700 contracts to just under 100,000.
The corn managed money net long position increased by roughly 5,000 contracts, to about 210,000.
In wheat, the Chicago soft wheat market reported a net short position of about 23,400 contracts, with fund traders reducing their holdings of both short and long positions during the week.
The net long position in K.C. wheat was down by about 1,000 contracts at 11,000. In Minneapolis, the net short position declined by about 400 contracts at around 1,000.
— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.
