MarketsFarm — Speculators were busy adding to their growing net short position in canola during the week ended Jan. 24, according to the latest Commitments of Traders (CoT) report compiled by the U.S. Commodity Futures Trading Commission (CFTC).
The net managed money short position in ICE Futures canola came in at 32,625 contracts on Jan. 24 (11,974 long/44,599 short), an increase of about 20,000 contracts from the previous week on a combination of long liquidation and new shorts going on the books.
Open interest in the canola market increased by 18,686 contracts during the week, to 229,830.
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At the Chicago Board of Trade, the managed money net long position in soybeans declined by about 20,000 contracts, coming in at roughly 147,600 contracts.
The corn managed money net long position was up by roughly 4,000 contracts, to about 203,500.
In wheat, the Chicago soft wheat market reported a net short position of about 73,800 contracts, which was up by roughly 9,000 on the week. The fund position in K.C. wheat held steady with a net short of about 7,800. In Minneapolis, the net short position was also steady, at around 2,900 contracts.
— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.
