Glacier FarmMedia – The speculative net short position in canola futures climbed higher during the week ended June 11, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
As of June 11, 2024, the net managed money short position in canola futures came in at 99,252 contracts (1,950 long/101,202 short), which was up by roughly 30,000 contracts from the previous week.
Open interest in the canola market was down by 1,264 contracts on the week at 242,085 contracts.
At the Chicago Board of Trade, the net short position in soybeans was up by about 21,000 contracts to come in at around 61,400 contracts. Soyoil futures also saw their net short position grow by about 19,000 contracts at roughly 74,400 contracts.
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For the week ending July 12, Western Canadian yearling markets traded steady to $5 higher compared to seven days earlier. Calves weighing 550-800 pounds were quoted $5 lower to as much as $10 higher.
The net short position in corn held steady at just under 220,000 contracts.
In wheat, the Chicago soft wheat market reported a net short position of 50,400 contracts. The net short in Kansas City hard red winter wheat came in at roughly 15,700 contracts. In Minneapolis spring wheat, managed money traders were still holding a small net long of around 2,500 contracts which was down by about 5,000 from the previous week.
