Fund traders hold steady in canola

ice futures
(File photo by Dave Bedard)

MarketsFarm — Commodity fund traders are maintaining a steady short position in ICE Futures canola, 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 at 53,576 contracts on Tuesday, steady with the previous week.

Open interest in the canola market rose by about 4,500 contracts, to 182,094 during the week.

At the Chicago Board of Trade the managed money long position declined to 25,460 contracts, from over 50,000 the previous week, as fund traders were both liquidating longs and putting on new short positions.

Speculators were on the sell side in corn during the week, with the net managed money short position growing by about 11,000 contracts, to 120,536.

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

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