As of April 4, the net managed money short position in canola futures came in at 49,470 contracts (70,671 short; 21,201 long), a decrease of about 13,500 contracts from the previous week.

Open interest in the canola market came in at 287,760 contracts on April 4, which was down by about 9,000 from the previous week.

At the Chicago Board of Trade, fund traders were holding a net long of about 145,300 contracts in soybeans, which was up by 47,000 from the previous week. Meanwhile, corn moved from a small net short of about 13,400 to a net long of 24,600, on a combination of short covering and new longs being put on the books.

In wheat, the Chicago soft wheat market reported a net short position of about 89,750 contracts. The funds were holding a net long position in Kansas City hard red winter wheat of around 7,000. In Minneapolis spring wheat, managed money traders holding were holding a small net long of 694 contracts.

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

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Managed money fund traders were holding a net long position in ICE Futures canola of 43,967 contracts as of Tuesday, up by about 2,100 on the week. Of that overall position, the data showed 47,010 longs and 3,043 shorts on the other side.

Open interest in the canola market increased by about 2,000 contracts on the week, to come in at 217,408 contracts.

At the Chicago Board of Trade, the managed-money net long position in soybeans was up by about 11,000 contracts, at around 159,500.

Meanwhile, the corn market saw its net long position jump by 18,000 contracts, to around 340,400.

Activity was mixed in wheat, with the net long in Chicago soft wheat holding steady on a combination of long liquidation and short covering, at about 13,200. The Kansas City wheat net long increased by about 3,000 contracts, to 72,700.

Traders as of Tuesday were holding a net long in Minneapolis spring wheat of about 13,000 contracts, which was down by about 1,000 from the previous week.

— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.

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Ettner said he also expects the situation is very likely to continue, barring any kind of a major shake-up.

When it comes to CBOT soybeans, Ettner noted traders have “a pretty good-sized long position to liquidate.”

Those traders have been choosing good-news days in order to reduce their longs, he said, but that can leave common traders in a bind.

“You get too much good news and you get slapped in the face with fund selling.”

The broker said he fully expects this trend to remain in place in coming days, with a little bit of an upward bias.

“Nothing too extreme, as most of the positive news is from corn exports, rather than soybean exports.”

Going into February there could be some price increases on the CBOT. It’s expected the U.S. Department of Agriculture (USDA) will trim corn and soybean ending stocks a little more in its next supply and demand report, he said.

With Malaysian palm oil incurring several declines recently, soyoil hasn’t been following that edible oil too closely, Ettner said.

A bounce in palm oil on Wednesday didn’t generate too much interest at CBOT — but it could if Malaysian markets begin to see palm oil set new contract highs.

As for wheat, the broker said a lack of strong exports over the last three weeks has been keeping prices down, and he expects that to carry through for a fourth week.

— Glen Hallick reports for MarketsFarm from Winnipeg.

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Managed money fund traders as of Tuesday were holding a net long position in ICE Futures canola of 55,136 contracts (57,814 long/2,678 short), down by about 6,800 contracts on the week.

Open interest in the canola market rose by about 7,000 contracts on the week, coming in at 204,708 contracts.

At the Chicago Board of Trade the managed money net long position in soybeans was down by nearly 20,000 contracts, at around 204,000.

Meanwhile, the corn market saw its net long position rise by 11,500 contracts, to around 270,400.

In wheat, Minneapolis spring wheat saw its net long edge down slightly, to roughly 7,200 contracts. The Chicago soft wheat net long position was up by about 1,000, at 47,200 contracts. Kansas City hard red winter wheat posted a net long of about 45,160 contracts, up about 5,000 on the back of short-covering and new longs being put on.

— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.

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The net managed money short position in ICE Futures canola came in Tuesday at 29,869 (9,349 long/39,218 short), a decrease of about 9,000 contracts from the previous week, and marked the first time the net short position was below 30,000 contracts since January.

Open interest in the canola market increased slightly on the week, coming in at 159,559 contracts.

At the Chicago Board of Trade, the managed money net long position in soybeans was up sharply, rising by about 27,000 contracts on a combination of short-covering and new longs to just over 90,000.

Meanwhile, the corn managed money net short position fell by roughly 60,000 contracts, to about 150,338.

In wheat, activity was mixed. The net short in Chicago soft wheat declined to 32,370. The Kansas City hard red winter wheat net short was down by about 3,000 contracts, at 34,000 contracts. Meanwhile the net managed money net short in Minneapolis spring wheat was up by about 400, to come in at about 18,000 contracts.

— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.

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The net managed money short position in ICE Futures canola came in Tuesday at 38,810 contracts (5,349 long/44,159 short), an increase of about 3,500 contracts from the previous week.

Open interest in the canola market was up by about 4,500 contracts, to 185,182 during the week.

At the Chicago Board of Trade, fund traders reduced their net long position in soybeans by about 5,000 contracts, taking it to about 7,000.

Meanwhile, the corn managed money net short position grew by roughly 30,000 contracts, to about 277,000.

In wheat, investors were bearish in the Kansas City hard red winter wheat market, growing the net short position to nearly 27,000 contracts.

Activity was more mixed in the Chicago soft wheat and Minneapolis spring wheat markets, with the managed money holding onto a net short of about 8,500 in soft wheat and 23,000 in Minneapolis.

— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.

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The net managed money short position in ICE Futures canola came in at 38,738 contracts on Tuesday, May 12 (5,373 long/44,111 short), a decrease of about 6,000 contracts from the previous week.

Open interest in the canola market was up by about 1,000 contracts, to 171,991 during the week.

At the Chicago Board of Trade, fund traders put on some new long positions in soybeans and covered previous bearish bets, taking the net long in the market to just over 31,000 contracts.

Meanwhile, the corn managed money net short position grew by roughly 25,000 contracts, to nearly 215,000.

In wheat, activity was mixed, with the net long position in Chicago soft wheat holding steady at around 6,200 contracts. Kansas City hard red winter wheat saw the net managed money long position fall to around 3,500 contracts.

The managed money net short position in Minneapolis spring wheat was steady at around 24,600 contracts.

— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.

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The net managed money short position in ICE Futures canola came in Tuesday at 44,161 contracts (4,107 long/49,161 short), an increase of about 7,000 contracts from the previous week.

Open interest in the canola market was up by about 6,800 contracts, to 177,566 during the week.

At the Chicago Board of Trade, the fund position in soybeans moved from a net long of about 11,500 contracts to a net short of nearly 5,000 as speculators placed new bearish bets.

Corn speculators added to their net short position by about 23,000 contracts, taking it to around 160,025.

In wheat, speculators were on both sides of the Chicago wheat market, with the net long position holding around 24,000. Kansas City hard red winter wheat saw the net managed money long position rise to just over 10,000 contracts.

The managed money net short position in Minneapolis spring wheat rose by about 5,000, to around 17,400 contracts.

— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.

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The net managed money short position in ICE Futures canola came in Tuesday at 38,129 contracts (3,494 long/41,623 short), an increase of about 600 contracts from the previous week.

Open interest in the canola market was up by about 1,000 contracts, to 170,808, during the week.

At the Chicago Board of Trade, soybean traders put on more new shorts than longs, reducing their net long position to about 11,500.

Corn speculators added to their net short position by about 27,000 contracts, taking it to around 137,300.

In wheat, speculators reduced their net long position in Chicago soft wheat by about 2,000 contracts, taking it to 25,786. Kansas City hard red winter wheat only saw the net managed money long position rise to just over 5,000 contracts.

The managed money net short position in Minneapolis spring wheat declined slightly, to around 12,500 contracts.

— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.

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The net managed money short position in ICE Futures canola came in April 7 at 37,586 contracts (1,623 long/39,209 short), down about 2,000 contracts from the previous week.

Open interest in the canola market declined by about 1,700 contracts, to 169,854, during the week.

At the Chicago Board of Trade, soybean traders were back placing fresh bearish bets, reducing their recently-created net long position to about 17,000.

Corn speculators were also putting on new shorts during the week, taking the net short position up by about 10,000 contracts, to 110,220.

In wheat, speculators reduced their net long position in Chicago soft wheat by about 10,000 contracts, taking it to 27,540. Kansas City hard red winter wheat only saw a small adjustment in the net managed money long position of about 2,000 contracts.

The managed money net short position in Minneapolis spring wheat held steady at just over 13,000 contracts.

— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.

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