Funds covering short positions in canola

(Dave Bedard photo)

MarketsFarm — Fund traders continued to bail out of short positions in canola during the week ended July 14, 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 July 14 at 23,113 (9,650 long/32,763 short), a decrease of about 6,000 contracts from the previous week.

Open interest in the canola market increased slightly on the week, coming in at 160,014 contracts.

At the Chicago Board of Trade the managed money net long position in soybeans was down sharply, dropping by about 26,000 contracts as investors liquidated long positions, to around 63,500.

Meanwhile, the corn managed money net short position held relatively steady, declining by only about 1,000 contracts to around 149,000.

In wheat, activity was mixed. The net short in Chicago soft wheat declined to only 6,500. The Kansas City hard red winter wheat net short was down by about 9,000 contracts, at 25,200 contracts. Meanwhile the net managed money net short in Minneapolis spring wheat was up by about 500 to come in at about 18,500 contracts.

— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.



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