Glacier FarmMedia COVID-19 & the Farm

Funds remain short canola and soybeans

ice futures
(File photo by Dave Bedard)

MarketsFarm — Fund traders continue to hold onto a large net short position in the canola market, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC).

The net managed money short position came in Tuesday at 57,512,an increase of roughly 5,000 contracts from the previous week.

Open interest in the canola market increased by 4,775 contracts, to 139,991 during the week.

At the Chicago Board of Trade, the net managed money short position in soybeans increased by about 5,250 contracts, to roughly 45,750 contracts.

Meanwhile, fund traders remained bullish on corn during the week, adding to their net long position. The managed money net long position in corn was up by about 4,000 contracts during the week, hitting just over 174,000 contracts.

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

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