MarketsFarm — The net fund short position in canola was reduced slightly during the week ended Tuesday, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC).
Speculators also bought back some of their bearish bets in soybeans and corn, the CoT report noted.
The net managed money short position in ICE Futures canola came in Sept. 24 at 64,050, a decline of nearly 5,000 contracts from the previous week.
Open interest in the canola market rose by 10,806 contracts, to 206,107 during the week.
At the Chicago Board of Trade the managed money net short position in soybeans was down by roughly 2,500 contracts, to 43,053 contracts as of Sept. 24.
Speculators were also covering short positions in corn during the week, with the net managed money short position declining by roughly 14,000 contracts, to roughly 162,551.
— Phil Franz-Warkentin reports for MarketsFarm, a Glacier FarmMedia division specializing in grain and commodity market analysis and reporting.
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