Funds still net-short on canola

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Published: April 15, 2020

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(Dave Bedard photo)

MarketsFarm — Fund traders were on both sides of the canola market during the first week of April, reducing their net short position slightly, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC).

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.

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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.

About The Author

Phil Franz-Warkentin

Phil Franz-Warkentin

Editor - Daily News

Phil Franz-Warkentin grew up on an acreage in southern Manitoba and has reported on agriculture for over 20 years. Based in Winnipeg, his writing has appeared in publications across Canada and internationally. Phil is a trusted voice on the Prairie radio waves providing daily futures market updates. In his spare time, Phil enjoys playing music and making art.

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