Canadian purchases of corn from the United States are off to a slow start in the 2024-25 marketing year, with ample old crop barley supplies likely limiting demand.
Managed money fund traders added to their large net short position in canola in early September, while profit-taking saw a reduction in the bearish bets for soybeans and corn in Chicago, according to the latest Commitments of Traders report.
Hot and dry weather saw crop conditions decline across much of Western Canada over the past month, with the latest model-based production estimates from Statistics Canada showing downward revisions in both canola and wheat production from the August report.
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