Fund traders add to net short positions in canola, corn

ICE futures
(Dave Bedard photo)

MarketsFarm — Fund traders added to their large net short position in canola during the week ended Tuesday, 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 canola came in Tuesday at 65,750, an increase of 3,600 contracts from the previous week.

Open interest in the canola market rose by 2,191 contracts, to 166,980 during the week.

At the Chicago Board of Trade the managed money net short position in soybeans declined by roughly 3,000 contracts, to 71,558.

Meanwhile, the net managed money short position in corn grew to nearly 124,000 contracts, from roughly 96,000 the previous week, as bearish investors continued to liquidate longs and put on new short positions.

— Phil Franz-Warkentin writes for MarketsFarm, a Glacier FarmMedia division specializing in grain and commodity market analysis and reporting.

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