Glacier FarmMedia | MarketsFarm — Speculative fund traders were busy putting on fresh bearish bets in early December, taking the net managed money short position back above 100,000 contracts for the first time in two months, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
The net managed money short position in canola futures came in at 115,643 contracts as of Dec. 3 (9,546 long/125,189 short), up by roughly 31,000 contracts from the previous week. Open interest in the canola market climbed by 24,768 on the week at 298,227 contracts.
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At the Chicago Board of Trade, the net short position in soybeans was down by about 13,000 contracts to come in at around 45,500. Meanwhile, the net long position in soyoil was down by about 14,000 contracts, at 7,300.
The net long position in corn was down by 10,000 contracts to come in at roughly 73,200.
In wheat, the Chicago soft wheat market reported a net short position of 70,900 contracts. The net short in Kansas City hard red winter wheat came in at roughly 39,500 contracts.
In Minneapolis spring wheat, managed money traders were holding a net short of around 32,150 contracts as of Dec. 3. That marked the largest net short in spring wheat on record going back to 2006.
