Speculators grow net short position in canola

(Photo courtesy Canola Council of Canada)

CNS Canada — Large speculators added to their net short positions in the ICE Futures canola market during the week ended Tuesday, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC).

Managed money and other reportable speculators grew their net short position in canola to 27,709 contracts during the reporting period, which was up by about 6,000 contracts from the previous week, according to the report.

Meanwhile, commercial traders saw their net long position increase by about 6,000 contracts, to 28,322 contracts.

Total open interest in the canola market grew by about 10,000 contracts during the week, to 184,058.

The move from Winnipeg to the New York-based ICE Futures U.S. platform means that canola now falls under the jurisdiction of the U.S. CFTC. Speculative fund positions were not officially reported prior to the move to the U.S. platform at the end of July.

Market participants usually follow the movements in the funds with interest, as large positions have the potential to independently move the futures.

— Phil Franz-Warkentin writes for Commodity News Service Canada, a Glacier FarmMedia company specializing in grain and commodity market reporting.

Tagged , , , , , , , ,
COPA Medallion COPA finalist in 2012, 2014 and 2015.
©2019 AGCanada is a production of Glacier FarmMedia Limited Partnership. Any affiliated or third party content is the property of its respective owner and is used with permission.
Please refer to Copyright Page for details.
Click here to view our Website Terms of Use.