Fund short position rises in canola

MarketsFarm — Fund traders added to their net short position in ICE Futures canola contracts during the week ended Tuesday, according to the latest Commitment of Traders (CoT) report compiled by the U.S. Commodity Futures Trading Commission (CFTC).

After being delayed by the U.S. government shutdown, the CFTC was finally up to date with its reporting on Friday.

According to its latest report, managed money and other reportable speculators increased their net short position in canola by nearly 8,000 contracts, to roughly 46,800, during the week ended Tuesday.

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The net commercial long position also grew during the week, hitting 47,254.

Total open interest in the canola market increased by about 13,000 contracts compared to the previous week, to come in at 182,391 contracts.

For canola, less than one per cent of the total open interest was counted as non-reportable in the latest CoT report. That compares with soybean futures at the Chicago Board of Trade, where about 10 per cent of the open interest was non-reportable.

At the CBOT, speculators also added to their net short position in soybeans during the week, which increased by 8,000 contracts, to 30,931.

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

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