MarketsFarm — Fund traders were on the buy side in grain and oilseed markets during the week ended Tuesday, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC).
Managed money fund traders as of Tuesday were holding a net long position in ICE Futures canola of 56,705 contracts (59,048 long/2,343 short), up about 3,800 contracts on the week due primarily to new longs being put on the books.
However, open interest in the canola market fell by about 11,000 contracts on the week as traders exited the front month, coming in at 193,182 contracts.
Read Also
U.S. grains: Corn futures edge up, soybeans sag on improving US crop ratings
Chicago Board of Trade corn futures extended slight gains on Tuesday as short covering and bargain buying continued to support a rebound from contract lows reached during the previous session.
At the Chicago Board of Trade the managed money net long position in soybeans was up by about 8,000 contracts, at around 227,600.
The corn market saw its net long position rise by 55,000 contracts, to around 211,575.
In wheat, Minneapolis spring wheat finally followed the winter wheats to move from a small net short to a net long of about 4,500 contracts. Chicago soft wheat saw its net long position grow by about 11,000, to 51,800 contracts. Kansas City hard red winter wheat posted a net long of about 36,400 contracts.
— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.
