Commodity fund traders were back on the sell side in canola and corn during the week ended Oct. 22, but added to their net long position in soybeans, according to the latest Commitment of Traders (CoT) report compiled by the United States Commodity Futures Trading Commission (CFTC).
The net managed money short position in ICE Futures canola came in at 34,967 contracts on Oct. 8, which was an increase of about 6,800 contracts from the previous week.
Open interest in the canola market fell by about 10,000 contracts, to 185,052 during the week. That compares with the beginning of the month when the open interest had topped 300,000 contracts.
At the Chicago Board of Trade the managed money position in soybeans added 19,000 contracts to their recently created net long position, taking it to 67,172 contracts on a combination of fresh buying and short-covering.
Speculators were on the sell side in corn during the week, with the net managed money short position growing by about 10,000 contracts, to 75,186.