Why it matters: A large fund position can sway the futures markets

The net managed money long position in canola futures came in at 110,658 contracts as of March 17 (135,694 long/25,036 short), up by about 18,000 contracts on the week due to a combination of short covering and new longs going on the books. That marked the largest net long position since July 2025.

Total open interest in canola futures increased to 364,317 contracts from 352,531 the previous week.

U.S. futures

Fund traders reduced their net long position in soybeans at the Chicago Board of Trade by roughly 16,000 contracts, with the net long dipping to about 195,200 contracts. That was the first contraction after six previous weeks of increases.

The net short position in corn came in at about 230,800 contracts on March 17, up by 32,000 contracts on the week.

In wheat, the Chicago soft wheat market reported a net short position of 11,900 contracts — down by about 10,000 contracts from the previous week.

Hard red winter wheat posted a net long of about 11,300 contracts. In MIAX spring wheat, the managed money net long position came in at about 15,300 contracts.

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Why it matters: A large fund position can sway the futures markets

The net managed money long position in canola futures came in at 26,844 contracts as of Feb. 24 (71,072 long/44,228 short), up by about 21,000 contracts on the week due to a combination of short covering and new bullish bets going on the books. That marked the largest net long position since August 2025.

Total open interest in canola futures dipped to 296,019 contracts from 305,730 the previous week.

U.S. futures

Fund traders grew their net long position in soybeans at the Chicago Board of Trade by roughly 12,000 contracts, with the net long rising to about 171,400 contracts.

The net short position in corn came in at about 13,200 contracts on Feb. 24, down by 30,000 contracts on the week.

In wheat, the Chicago soft wheat market reported a net short position of 17,800 contracts — down by about 52,000 contracts from the previous week as bullish chart signals had speculators covering short positions and putting on new longs.

Hard red winter wheat moved from a net short of about 11,100 to a net long of 6,300 contracts. That marked the first net long fund position for the market in two-and-a-half years. In MIAX spring wheat, the managed money net short position was cut from about 18,700 contracts to 9,800.

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Just a week after the managed money position in canola moved to a net long for the first time in one-and-a-half years, those bearish bets hit their largest level in records going back to 2018.

The net managed money long position in canola futures came in at 72,101 contracts as of Feb. 18 (106,682 long/34,581 short) — an increase of roughly 28,000 contracts from the previous week. That compares with the previous record managed money long canola futures position of 71,586 hit in January 2022.

Open interest in the canola market fell by 14,733 on the week at 249,095 contracts.

At the Chicago Board of Trade, the net long position in soybeans fell by about 9,000 contracts, to come in at roughly 33,700 contracts. Meanwhile, the net long position in soyoil was up by about 7,000 contracts, at about 57,500

The net long position in corn was up by about 33,600 contracts to come in at roughly 359,800

In wheat, the Chicago soft wheat market reported a net short position of 47,800 contracts. The net short in Kansas City hard red winter wheat came in at roughly 23,300 contracts. In Minneapolis spring wheat, managed money traders were holding a net short of around 7,800 contracts as of Feb. 18.

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The net managed money short position in canola futures came in at 33,047 contracts (26,638 long/59,685 short), down by roughly 33,000 contracts from the previous week and the lowest level since September 2023. Open interest in the canola market fell by 10,641 on the week at 211,684 contracts.

At the Chicago Board of Trade, the net short position in soybeans was up by about 3,800 contracts to come in at around 61,800. Meanwhile, the net long position in soyoil was dipped slightly to 37,200 contracts.

The net short position in corn was down by 52,300 contracts to come in at roughly 35,500.

In wheat, the Chicago soft wheat market reported a net short position of 36,000 contracts. The net short in Kansas City hard red winter wheat came in at roughly 9,500 contracts. In Minneapolis spring wheat, managed money traders were holding a net short of around 16,000 contracts as of Oct. 29.

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