Glacier FarmMedia COVID-19 & the Farm

Fund net long in canola steady, despite liquidation in U.S.

ice futures
(File photo by Dave Bedard)

MarketsFarm — The large net long position fund traders are holding in canola futures held relatively steady during the week ended Tuesday, despite long liquidation in U.S. grains and oilseeds, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC).

Managed money fund traders on Tuesday were holding a net long position in ICE Futures canola of 59,383 contracts (59,383 long/270 short), up by about 250 contracts on the week.

Open interest in the canola market rose by about 900 contracts on the week, coming in at 224,982 contracts.

At the Chicago Board of Trade the managed money net long position in soybeans was down by about 6,000 contracts, at around 189,000.

Meanwhile, the corn market saw its net long position drop by 15,000 contracts, to around 251,000.

In wheat, the Chicago soft wheat managed money position moved from a net long of about 13,000 contracts to a net short of 9,700 on a combination of long liquidation and new shorts being put on.

The Kansas City net long declined by about 4,000 contracts, to 43,900. Traders on Tuesday were holding a net long in Minneapolis spring wheat of about 4,700 contracts, down by about 1,000 from the previous week.

— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.

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