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Funds move to large net long position in canola

First net long since 2023

Speculative fund traders moved to a net long position in canola for the first time in one-and-a-half years, as they covered short positions and put on fresh bullish bets in early February, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).









“But we lost a lot of acres… which suggests to me that some organic guys have let some of their organics land go. And they are growing canola on the side,” says Laura Telford. Photo: Greg Berg

ICE Canada Weekly: Canola set to climb higher

Supplies getting tighter

Canola has been on something of a tear for about a month with increases in 16 of its last 20 sessions on the Intercontinental Exchange as of Feb. 12. Despite a great amount of political chaos surrounding all of the markets, the Canadian oilseed is poised to climb higher for the rest of February, said broker Tony Tryhuk of RBC Dominion Securities in Winnipeg, Man.