Fund short position climbs in canola

MarketsFarm — Fund traders were active in the ICE Futures canola market during the week ended Tuesday, adding to their large net short position, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC).

According to the latest report, managed money and other reportable speculators increased their net short position in canola by more than 8,000 contracts, to 55,273, during the week ended Tuesday.

The net commercial long position also grew during the week, hitting 55,180.

Open interest in the canola market increased by roughly 2,000 contracts, to 184,500.

For canola, less than one per cent of the total open interest was counted as non-reportable in the latest CoT report. That compares with soybean futures at the Chicago Board of Trade, where about 10 per cent of the open interest was non-reportable.

At the CBOT, speculators also added to their net short position in soybeans during the week, which doubled to nearly 66,000 contracts.

— Phil Franz-Warkentin writes for MarketsFarm, a Glacier FarmMedia division specializing in grain and commodity market analysis and reporting.

Related Articles

About the author

Phil Franz-Warkentin - MarketsFarm's recent articles

Comments

explore

Stories from our other publications