Fund short position grows in canola

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Published: February 3, 2020

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(Dave Bedard photo)

MarketsFarm — Large fund traders were betting that canola and soybean futures would move lower in late January, with the net managed money short position in both oilseeds rising in the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC).

The net managed money short position in ICE Futures canola came in Tuesday at 37,445 contracts (3,492 long/40,937 short), an increase of about 17,000 contracts from the previous week.

Open interest in the canola market increased by about 3,500 contracts, to 191,502 during the week.

At the Chicago Board of Trade, the managed money net-short position grew to 55,446 contracts as investors put on more than 35,000 new short positions.

Meanwhile, corn traders continued to cover short positions, with the overall net-short position in the grain declining by about 40,000 contracts, to 25,390.

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

About the author

Phil Franz-Warkentin

Phil Franz-Warkentin

Editor - Daily News

Phil Franz-Warkentin grew up on an acreage in southern Manitoba and has reported on agriculture for over 20 years. Based in Winnipeg, his writing has appeared in publications across Canada and internationally. Phil is a trusted voice on the Prairie radio waves providing daily futures market updates. In his spare time, Phil enjoys playing music and making art.

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